Peanut the Squirrel (PNUT) Price Plunged 19% in the Last 24 Hours to Trade at $1.67

The Peanut the Squirrel price recently experienced a sharp upward movement, peaking near $2.5 before entering a consolidation phase

The Peanut the Squirrel (PNUT) price displayed bearish signs on Monday, showing a 19% decrease in the last 24 hours and trading at $1.67 as of 11:15 p.m. EST. The trading volume also took a hit, plummeting 57% to $3.6 billion.

Peanut The Squirrel Price Analysis: Bearish Trend, Support at $1.0

According to data from GeckoTerminal, the PNUT price showed a slight upward trend initially, peaking near $2.5 before entering a consolidation phase. The trend was initially bullish, with a strong upward price movement and the 50-day Simple Moving Average (SMA) rising sharply.

However, the price faced resistance at the upper channel boundary and began to retrace. The falling channel now has the Peanut the Squirrel price trading slightly below the 50-day SMA, indicating a slight retracement. But PNUT still trades above the 200-day SMA ($0.57), suggesting that the asset may still be in a bullish rally.

Furthermore, the Relative Strength Index (RSI) is currently at 45.13, which is below the midpoint (50), indicating that the momentum has cooled off after the recent peak. In this range, the asset is considered neither overbought nor oversold, leaning slightly bearish but potentially stabilizing. If it starts trending back toward 50 and above, it could signal renewed buying interest.

If the current bearish stance continues along the channel, the Peanut the Squirrel price could plunge, with the next possible support level at $1.0.

On the other hand, a breakout above the descending channel or flag with increased volume could trigger a resumption of the uptrend, potentially retesting the recent high around $2.5.

Investors looking for alternatives might consider Crypto All-Stars (STARS), a new ICO that has already raised over $3.7 million and is aiming for the $4 million mark.

According to ClayBro, a prominent crypto analyst on YouTube with over 130K subscribers, $STARS could increase by 10X after its launch.

Crypto All-Stars Presale: Best Meme Coin to Buy Now?

C͏rypto All-S͏t͏a͏r͏s is a revolu͏t͏ion͏ar͏y project that b͏ring͏s the M͏emeVault eco͏syste͏m to the cryp͏to wor͏l͏d. This͏ e͏cos͏yste͏m allows hold͏ers o͏f vari͏ous mem͏e c͏oins to e͏ar͏n rewards throu͏g͏h its native ͏token, ͏$STARS.͏

The project’s staking protocol allows investors to stake popular meme coins for combined rewards, offering both capital growth and passive income.

Why Is Everyone Excited?

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This early success shows that investors see BIG potential here. ?

Could this be the next $PEPE? ?

— web3telepath (@web3telepath) August 15, 2024

The meme coins that can be staked on Crypto All-Stars include Pepe, Dogecoin, Shiba Inu, Floki, Brett, Mog Coin, Milady, Turbo, Toshi, Coq Inu, and Bonk. More meme coins will be added in the coming months.

You can also earn passively through the project’s native staking mechanism, which offers an impressive 445% annual percentage yield (APY).

The token is currently available for purchase at a rate of $0.001568. After a little over two days, the price will increase, so act quickly to get the best deal.

Purchase $STARS from its official website here using BNB, USDT, or a bank card.

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