Peanut the Squirrel (PNUT), a new meme coin on the Solana blockchain, saw an astonishing 2,000% price increase in one week.
Since its recent launch, PNUT has quickly gained traction, making it one of the best performing tokens this week. As PNUT continues its remarkable rally, it has now reached another milestone in terms of market value.
PNUT is no longer worth peanuts
THE request for PNUT is clearly reflected in its trading volume, which jumped 690% in 36 hours. Initially, PNUT’s trading volume stood at $291 million, but jumped to $2.3 billion, highlighting the growing interest in this meme coin. The increase in trading volume suggests a growing appetite among investors, especially considering the recent launch of PNUT.
Although new, the PNUT already demonstrates strong market sentiment. The rapid increase in trading volume highlights investor interest, perhaps driven by the allure of high yields and the token’s recent popularity. This dynamic is crucial for PNUT, as sustained demand could further fuel price action in the short term.
PNUT’s recent rally has propelled it into the rankings of the top 100 crypto assets by market capitalization. With its market cap surpassing $1 billion, PNUT has already surpassed established tokens like Algorand (ALGO), Raydium (RADIUS) and Bitcoin SV (BSV). The token registration on Binance further fueled its growth, making it accessible to a wider audience and strengthening its market dynamics.
The rapid increase in the market value of the meme coin speaks volumes about its impact. As it climbs the ranks among established cryptocurrencies, PNUT’s growth highlights the influence of market trends and quotes on its performance. This high market capitalization and this important listing reinforce its dynamics and validate the interest of investors.
PNUT Price Prediction: Fueling the Rally
The price of the PNUT soared 154% on Wednesday, adding to the week’s gains and bringing its price back to $1.15. This rise is a key part of the ongoing rally that has pushed the token’s gains to nearly 2,000%, showing no signs of slowing down.
With the current coin market booming, PNUT could capitalize on this momentum, potentially reaching $2.00 if investor interest remains stable. This goal remains achievable if market demand continues to support the coin’s upward trajectory.
However, if investors decide to book profits, The price of the PNUT could face a setback. Profit-taking could erase some of the recent gains, reflecting volatility Often seen with new memes pieces.
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