Peanut the Squirrel Surges 27% in 24 Hours, Hits a Four Months High: A Rally to $0.5?

Key Insights

• Peanut the Squirrel price rallies hitting a four months high of $0.42.

• RSI reaches overbought indicating potential correction ahead

Peanut the Squirrel Price Hits 4 Months High

Peanut the Squirrel sees a significant price surge, gaining over 16% as trading volume hits 58.69M. The RSI and Stochastic RSI indicate strong buying momentum.

The memecoin frenzy has held strong throughout the last 7 days. Amidst memecoin rally, Peanut the Squirrel has recorded significant gains.

After months of consolidation, PNUT has erupted with 166.20% surge over the past 7 days reaching a 4 months high. On daily charts, PNUT is up by 27.11% pushing the token to around $0.421 at press time.

So what's driving the action, and more importantly — is there still room to run?

What PNUT Charts Say

Looking at PNUT price chart, the memecoin had been consolidating quietly since mid-February. But over the past two days, a massive breakout candle shattered resistance with aggressive volume.

This breakout is solely backed by aggressive buying activity. The memecoin's RSI show that buyers are currently dominant players in the market. As of now, RSI sits at 81 placing PNUT firmly in overbought territory, suggesting it may be due for a cool-off or consolidation phase.

Also Stoch sits (91.91): Also overbought — but in the world of meme coins, this can last longer than expected before a pullback.

What Comes Next?

There’s no doubt PNUT is riding a strong uptrend, but with both RSI and Stoch RSI over 80, a retracement or short-term consolidation is likely. That said, if the hype train continues and the meme community rallies behind it, we could see new highs above $0.50 in the coming days.