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Peanut

Just In: Coinbase Adds PNUT Meme Coin on Solana NetworkCoinbase has officially announced the listing of Peanut the Squirrel (PNUT), a Solana-based meme coin, for trading on January 14, 2025. The news has already sparked a 10% price surge for PNUT, though the token still trades below its all-time high. Let’s delve into the technical and fundamental aspects surrounding this development. Key Highlights 1. Coinbase Listing Details: - PNUT-USD trading pair launches on January 14, 2025, at 9:00 AM PT. - Token transfers for PNUT are live on Coinbase and Coinbase Exchange. - Trading will be rolled out in phases based on liquidity conditions. 2. Immediate Market Reaction: - PNUT’s price rose from $0.48 to $0.59, a 10% increase. - Trading volume surged over 107%, reaching $431.71 million. - Despite the rebound, PNUT remains 79% below its all-time high of $2.47, recorded in November 2024. 3. Historical Context and Legal Challenges: - PNUT originated in late 2024 following the controversial euthanasia of a pet squirrel named Peanut, which galvanized community support. - Legal disputes have since arisen, with Mark Longo, Peanut’s owner, suing Binance for alleged unauthorized intellectual property usage to promote the coin. Technical Analysis From a technical perspective, PNUT exhibits strong potential for further gains: PNUT’s recent price action forms a bullish engulfing pattern, signalling a potential upward trend. The Relative Strength Index (RSI) indicates that PNUT is not yet overbought, providing room for further price growth. Immediate support lies at the one-month low axis, providing a safety net in case of a pullback. The next resistance point aligns with the 38.2% Fibonacci retracement level, which traders are eyeing for a potential breakout. PNUT’s unique narrative and community support position it as a potential standout in the meme coin category. The Coinbase listing, coupled with strong technical indicators, creates a favorable environment for a potential rally toward $1 and beyond. Conclusion The listing of PNUT on Coinbase marks a pivotal moment for the Solana-based meme coin. With a bullish technical setup and growing community support, PNUT is well-positioned to capitalize on its newfound exposure. However, investors should remain cautious of potential legal and market risks. As the crypto industry evolves, PNUT’s journey underscores the power of community-driven innovation and the unpredictable nature of meme coins. Stay tuned for more updates as PNUT’s story unfolds in the coming weeks.
Long
by DEXWireNews
Peanut the Squirrel (PNUT): A coin Surge Driven by Social MediaPeanut the Squirrel ($PNUT) has become one of the most intriguing memecoins to capture the attention of cryptocurrency enthusiasts in recent weeks. Launched in the wake of a tragic event involving Peanut, the squirrel that became an internet sensation, the coin has witnessed explosive price growth and increasing market interest. But beyond the viral headlines and social media frenzy, a closer examination of both technical and fundamental factors shows that PNUT has all the hallmarks of a speculatively-driven asset poised for continued momentum. A Viral Meme Coin The story behind Peanut the Squirrel begins with the tragic death of the beloved rodent. Known for its viral fame on social media, Peanut the Squirrel was a pet of influencer Paul Longo, whose squirrel became an unlikely celebrity thanks to a series of popular videos. However, tragedy struck when the New York State Department of Environmental Conservation (NYSDEC) raided Longo's home, seized Peanut, and euthanized the animal under controversial circumstances. The incident quickly went viral, sparking outrage and sympathy across social media platforms. This viral wave helped to propel the launch of PNUT, a meme coin created in Peanut's memory. It follows in the footsteps of other famous meme coins like Dogecoin and Shiba Inu, tapping into the power of internet culture and community-driven movements. Since its launch, $PNUT has built a substantial following. The coin currently boasts over 45,000 holders, 23,000 followers on X (formerly Twitter), and more than 6,000 Telegram members. With its lighthearted origins and growing community, $PNUT has garnered attention from retail traders looking to capitalize on its meme value. The coin has also benefitted from media attention and support from prominent figures in the crypto space, including Elon Musk, whose social media commentary often drives market movements. Technical Analysis From a technical perspective, PNUT’s chart tells a story of explosive growth followed by consolidation. Over the last 24 hours, PNUT’s price has surged by 251%, reaching a high of $0.45 before retracing to around $0.3812. This dramatic increase follows a period of consolidation near the $0.10 level, where buying and selling pressures were balanced. On November 10, PNUT broke out of this consolidation range, signaling a shift in momentum as buyers stepped in. However, the Relative Strength Index (RSI) currently sits at 46. An RSI above 70 typically indicates that an asset is overbought, and in this case, PNUT may be due for a price surge. As the price cools off and market sentiment stabilizes, it’s possible that PNUT could retrace before making another push higher. Falling Wedge Pattern One of the more intriguing technical aspects of PNUT’s chart is the formation of a falling wedge pattern on the 45-minute timeframe. This pattern, often associated with bullish reversals, signals that the current downtrend may soon give way to a strong upward move. The breakout from the wedge has already led to a 9% price increase, suggesting that the coin may be on the cusp of another upward leg, particularly if broader market sentiment remains favorable. Market Sentiment At the heart of Peanut the Squirrel’s success is its community-driven nature. The viral video, the tragic backstory, and the meme culture surrounding the coin have created a loyal fanbase of traders and holders who are emotionally invested in the coin’s success. As with other meme coins, sentiment plays a significant role in driving price movements, and the $PNUT community has proven to be a major catalyst for its growth. Moreover, the token’s quick success following its launch highlights the potential for speculative trading in the meme coin space. While the project has no clear utility or long-term roadmap at the moment, its market cap has already surpassed $530 million, with over $1 billion in 24-hour trading volume. These figures point to a high level of speculative interest, which is a common characteristic of the memecoin market. Conclusion Peanut the Squirrel (PNUT) represents a fascinating case study in the world of meme coins. Its technical indicators suggest strong bullish momentum. On the fundamental side, the viral story and growing community provide a solid foundation for its price action, but as with all meme coins, the volatility and speculative nature of the asset must be carefully considered. For traders looking to get in on the action, it is essential to balance enthusiasm with caution. As PNUT gains attention and its community continues to grow, it could present opportunities for short-term gains, but longer-term success may depend on broader market conditions and the development of additional use cases or utility.
Long
by DEXWireNews
Just in: Peanut (SOL: $PNUT) Gets Listed on MEXC & LBANK In an intriguing turn of events, Peanut the Squirrel ($PNUT), a community-driven cryptocurrency inspired by the famous Instagram squirrel, has been making headlines. As of today, $PNUT saw a listing on two renowned centralized exchanges, MEXC and LBANK, without the team paying any listing fees. This rare occurrence underscores the strong community backing and potential of this token, which has traders buzzing. Market Performance & Technical Analysis At the time of writing, $PNUT is trading up by 9.16%, with a Relative Strength Index (RSI) of 44, indicating neutral momentum. Earlier, $PNUT surged to an impressive market cap of $130 million before cooling off and consolidating around $59 million. Despite this retracement, the token’s price pattern suggests bullish potential. It appears to be forming a presumed falling wedge, a bullish reversal setup. If Bitcoin ( CRYPTOCAP:BTC ) manages to stage a comeback amidst current market consolidation, $PNUT could potentially follow suit, giving investors reasons to stay hopeful. Trading Volume & Popularity The daily trading volume of $PNUT stands at $187,876,966, though it has seen a decrease of 42.60% in the past 24 hours, reflecting some ebb in market activity. Despite this, the coin continues to outperform its peers, especially in the meme cryptocurrency segment, even as the broader crypto market has struggled. Exchanges & Accessibility $PNUT is widely accessible, being traded on both decentralized and centralized platforms. The most active market remains Raydium, where the PNUT/SOL pair has amassed a trading volume of $134,905,786 in the last 24 hours. Other notable exchanges for $PNUT trading include Raydium (CLMM) and Meteora, alongside the new listings on MEXC and LBANK. Key Metrics & Price Highlights - All-Time High: The highest price recorded for $PNUT was $0.1279, achieved on November 3, 2024, marking a significant milestone for the token. However, it is currently 53.63% below this peak. - All-Time Low: The lowest recorded price was $0.04452, observed on November 4, 2024, with the current price now 33.24% higher. - Market Cap & FDV: The current market cap of $59,447,124 places $PNUT at #592 on CoinGecko. The fully diluted valuation (FDV) mirrors this figure, based on the 1 billion tokens circulating today. Community Power & Celebrity Influence What makes $PNUT more than just another meme coin is its emotional and social impact, stemming from the story of Peanut the Squirrel. The tragic and widely publicized euthanization of Peanut, owned by digital creator Mark Longo, has galvanized a passionate community. Figures like Elon Musk have even referenced the coin, using the ticker $PNUT in cryptic tweets, sparking waves of investor interest. A Coin with a Mission Beyond the financial allure, $PNUT embodies a movement against perceived governmental overreach, drawing on the powerful narrative of Longo’s loss and his dedication to animal welfare. With significant momentum, major exchange listings, and a loyal community, $PNUT stands as a testament to the strength of community-driven crypto projects. Conclusion With new exchange listings and a story that resonates deeply, $PNUT is positioned for further growth. However, as always, investors should proceed with caution, remembering that market dynamics can change rapidly. Is $PNUT a simple meme token, or does it have the potential to become a crypto legend? Time will tell. *Disclaimer: This article is for informational purposes only and does not constitute financial advice.*
Long
by DEXWireNews