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- PNUT price surged more than 150% in a day and 1300% after Binance listing.
- Peanut the Squirrel (PNUT) reached a market cap of $2.20 Billion, surpassing popular meme coins, such as POPCAT and GOAT.
Peanut the Squirrel (PNUT), a recently launched meme coin, has delivered massive speculative moves. The PNUT Price started surging recently and it currently stands as the second top gainer of the week.
The broader cryptocurrency market was enjoying the bullish sentiment after the 2024 US Election results. Amidst this, PNUT crypto gained significant interest and soared more than 1300% after its listing on a major crypto exchange, Binance.
PNUT immediately began running rampant after its launch because it was connected with a tragic real-world event. Peanut the Squirrel became popular on social media, and it was sadly euthanized. That event outraged many crypto enthusiasts and social media users.
The PNUT token drew numerous crypto users’ attention, and the Binance listing turned it into an even more parabolic phenomenon.
A Look at the Transaction
A trader spent $721K to purchase 1.92 Million PNUT at $0.38 immediately after Binance announced the listing. The trader still holds the meme coin and that unrealized profit exceeded $2.2 Million.
PNUT token experienced exponential growth in trading volume in the recent sessions. The recent sharp rise might attract more traders, and a further short-term rise can be anticipated in the coming sessions.
PNUT Price Prediction: Is it Too Late to Buy PNUT?
When writing, the PNUT price was trading at $2.16, noting an intraday rise of over 153.20%. Its market cap soared to $2.16 billion. It exceeded the market cap of Solana-based meme coins such as Popcat, which held a market cap of $1.65 Billion.
Following PNUT’s promising entrance and substantial market cap achievement, there’s speculative potential for it to reach a $10 Billion market cap.
A daily close above the $2.50 mark can trigger further buying action. Amidst the recent price surge, the meme coin still has the potential to outperform. It could also rally in the coming sessions.
Going forward, the bullish sentiment across the meme coin space has fueled the gigantic price rally. With the listing on the prominent exchange, Binance, bullish sentiment emerged among the market participants.
The PNUT crypto price action signifies the bullish momentum. The buyers have gained the upper hand, while sellers look in trouble.
Trader Forfeits $17 Million Potential Profit by Selling at a Loss
Many PNUT holders gained multifold returns as this meme coin’s price surged. There are some who might be disappointed due to selling too early. Once such trader’s action was reported by Lookonchain via an X post.
This trader bought 19.4 Million PNUT coins for 8 SOL coins, which were worth $1,366 at that time. The trader then sold the same for 4.08 SOL which equals to $697 only. He witnessed a loss of $669. At the time of the sale, the trader might have been driven by fear.
As it is evident, the value of PNUT has increased later. Exactly the same number of PNUT crypto coins would have been valued at over $17.5 million.
Early exit, triggered by emotions such as fear or short-term market signals, deprives investors of high potential returns.
The message of the Smart Trader is to take one’s decisions wisely and not risk it at every breakout by being overly bearish or bullish at the slightest of dips or spikes in the market.
Disclaimer
In this article, the views and opinions stated by the author or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
