Bullish & Bearish Predictions for PNUT (2024)
- Bullish Prediction: $2.51 to $6.07
- Bearish Prediction: $0.55
- Long-term Target: PNUT may hit $10 in the near future.
In this analysis, we will evaluate the potential price trajectory of Peanut the Squirrel (PNUT) through advanced technical tools and market insights, covering the years 2024 to 2030.
Peanut the Squirrel (PNUT): Current Market Overview
- Current Price: $1.35
- Trading Volume: $1.92 billion
- Market Cap: $1.35 billion
- Circulating Supply: 999.85 million PNUT
- All-Time High (ATH): $2.47 (achieved on November 14, 2024)
- All-Time Low (ATL): $0.03128 (recorded on November 5, 2024)
What is Peanut the Squirrel (PNUT)?
Peanut the Squirrel (PNUT) is the utility token of Peanut Trade, a decentralized finance (DeFi) platform aiming to simplify trading while maximizing profitability. Built on the Ethereum (ERC-20) blockchain, PNUT serves multiple purposes within its ecosystem, including governance, staking rewards, and transaction fee payments.
Key Features:
- Smart Trading Algorithm: This feature minimizes slippage and improves pricing efficiency across DeFi platforms.
- Yield Farming: Users can earn passive income through liquidity mining.
- Deflationary Tokenomics: A portion of transaction fees is burned, creating a scarcity effect that supports price stability.
With its unique blend of tools and accessibility, Peanut Trade caters to both beginners and seasoned traders, making PNUT a promising player in the DeFi landscape.
Technical Analysis: Peanut the Squirrel (PNUT) 2024
Price Pattern Overview
The daily chart reveals that PNUT is currently following a descending channel pattern, typically indicative of short-term bearish momentum. However, such patterns can serve as a precursor to a bullish breakout when the upper trendline is breached.
- Current Price: $1.35
- Potential Resistance Levels: $1.49, $1.89, $2.46
- Key Support Levels: $0.95
Support & Resistance Levels for 2024
| Level | Price |
|---|---|
| Resistance 1 | $2.51 |
| Resistance 2 | $6.07 |
| Support 1 | $1.27 |
| Support 2 | $0.55 |
Key Indicators
| Indicator | Purpose | Reading | Inference |
|---|---|---|---|
| 50-Day Moving Average | Tracks short-term trend direction | $1.58 > $1.35 | Bearish trend |
| Relative Strength Index | Identifies overbought/oversold zones | RSI = 45.79 | Nearly oversold |
| Relative Volume (RVOL) | Compares trading activity | Below cutoff line | Weak momentum |
Volatility & Trend Strength
| Indicator | Purpose | Reading | Inference |
|---|---|---|---|
| ADX | Measures trend strength | 17.31 | Weak trend |
| RVI | Analyzes price volatility | 47.45 | Low volatility |
PNUT Price Prediction: 2024 to 2030
| Year | Bullish Price | Bearish Price |
|---|---|---|
| 2024 | $13 | $0.50 |
| 2025 | $15 | $0.40 |
| 2026 | $17 | $0.30 |
| 2027 | $22 | $0.20 |
| 2028 | $25 | $0.10 |
| 2029 | $27 | $0.09 |
| 2030 | $30 | $0.08 |
Conclusion
Peanut the Squirrel (PNUT) shows significant potential for growth if it continues its trajectory of innovation and market adoption. With its deflationary model and utility-driven ecosystem, PNUT is well-positioned to attract investors.
- Bullish Outlook: The price could hit $6.07 or higher if the market remains favorable.
- Bearish Risks: In case of negative sentiment, prices might drop to $0.55 or lower.
As PNUT evolves with updates and upgrades, surpassing its ATH of $2.47 and achieving long-term price milestones of $10 or more is plausible.
Frequently Asked Questions (FAQ)
What is Peanut the Squirrel (PNUT)?
PNUT is the native token of Peanut Trade, a DeFi platform offering tools for efficient and profitable digital asset management.
Where can I buy PNUT?
PNUT is available on major exchanges like Binance, Gate.io, and DigiFinex.
Can PNUT reach $10?
Yes, with sustained bullish momentum and ecosystem upgrades, PNUT might hit $10 soon.
What’s PNUT’s all-time high?
PNUT’s ATH is $2.47, achieved on November 14, 2024.
What is PNUT’s price forecast for 2024?
PNUT could reach $13 in a bullish scenario or drop to $0.50 in bearish conditions.
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Disclaimer: The information here reflects the insights of individual analysts and does not represent financial advice from Data room technology. Conduct thorough research and consider all risks before making investment decisions.