PNUT Plummets 8% As Investors Pivot To This PEPE Upgrade For Parabolic Gains

The Peanut The Squirrel price slumped 8% in the last 24 hours to trade at $0.04952 as of 3.50 a.m. EST on trading volume that plummeted 50% to $77.43 million.

The project was inspired by a beloved pet that became an internet sensation after being seized and euthanized by New York State’s Department of Environmental Control. The popular squirrel already had more than 500,000 followers on Instagram, a figure that has skyrocketed to 751k since the incident.

Both Peanut and Fred the raccoon were seized after multiple anonymous complaints. The DEC also claimed that Peanut bit an investigator on the hand while being confiscated from his home.

Internet communities rallied behind the squirrel, and before long a meme coin project commemorating his struggle emerged. So far, the PNUT token has seen quite a volatile price following its launch. The question now is where is the price going from here?

Peanut The Squirrel Price Prediction

While the PNUT price is moving up and down rather quickly, and is far from being stable right now, there are still ways to predict what is likely to happen next to the project. Granted, the fact that it is so young means that there is no historical data that could show how it behaves in certain situations, but certain technical indicators can still help with short-term predictions.

For example, the project’s Bollinger bands are still extremely wide right now, with the lower one being at $0.0343 and the upper one at $0.05501. Meanwhile, the token’s price is currently recovering toward the upper band after being rejected in the past several hours, showing that the traders are getting bullish again, despite the fact that the project is still trading in the red.

Then, there is PNUT’s Relative Strength Index (RSI) value, which has been fluctuating between the neutral area and the overbought zone in the last 12 hours or so, dropping below the value of 50 only once during this time.

At the time of writing, the RSI sits at the value of 60, where it found stability over the last few hours. Its behavior in the last 24 hours shows that there is plenty of optimism surrounding the new token, but also that many are just waiting for an opportunity to take profit as soon as the buyers pump its price up.

This is likely to continue, especially since the token’s price is struggling against the resistance at $0.050, which has rejected it multiple times in the last 24 hours, typically sending it back to the value of $0.030.

In other words, the volatility is expected to continue, especially as the support for the squirrel continues to grow, and at the same time, the crypto market seems to be entering a new bullish phase.

Promising Alternative To Peanut The Squirrel

With the Peanut The Squirrel price seemingly reaching its limit for the time being, traders are piling into a new meme coin called Pepe Unchained (PEPU), which has raised an incredible $24.7 million to become one of the largest meme coin presales ever.

Pepe Unchained is unlike any other Pepe-inspired meme coins thanks to the fact that it has its own blockchain. In fact, it is the first Pepe-themed crypto that can say that.

The idea behind the project is that it will catapult PEPE into the modern era, freeing it from its clunky, slow Ethereum blockchain and, thus, ”unchaining” it.

PEPU’s native Layer 2 chain allows it to be fast, cheap, and scalable, unlike PEPE which is anything but.

More than that, the project is developing an entire ecosystem, and it already developed a DEX, a block explorer, and is offering developer grants to those who come to build on PEPU’s network.

ClayBro, a YouTuber with 130k subscribers, says the project is building the biggest and perhaps best Layer 2 blockchain, and that it could be a 10x crypto after its launch.

You can buy PEPU with ETH, USDT, BNB, or credit/debit card while its price is still only $0.1219. Buy before a price hike in less than 17 hours to lock in the best deal.

Visit PEPU here.

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