The Peanut the Squirrel coin price has plummeted by over 17% during the past 24 hours, trading at $1.33 in the evening of November 19, as traders sold their remaining meme coins on the market.
The PNUT has pushed its performance further into the negative zone with this latest drop. The meme coin has dropped by more than 33% over the long-term.
Peanut the Squirrel Price Clinging To A Key Support
Chart for the PNUT/USD 4-hour chart (Source: GeckoTerminal)
According to data, the Peanut The Squirrel Price is testing its key support at $1.2697. GeckoTerminal. A drop below this technical net in the next twelve hours could result in a fall to the following mark, all the way to $0.8822. PNUT’s closing of the next 2 four-hour candles above $1.2697 could invalidate the bearish hypothesis.
In a bullish scenario, Peanut The Squirrel could rebound from its current support level and challenge the $1.6417 price resistance. If the The word “Meme” is a good example. manages to break above this obstacle, it could then clear the space needed to rise to $1.9827 in the short term.
The price of the peanut and squirrel might drop more, according to technicals
Technical indicators on PNUT’s 4-hour chart warn that bears still have control of the Peanut The Squirrel price, which might lead to a continued drop in the price of the meme coin. Moving Average Convergence Divergence(MACD) as well as the Relative Strength Index(RSI) flashes bearish.
RSI values have dropped from mid-50s to mid-30s in the last few hours. RSI values decreasing are often interpreted as a sign that buying power is waning. What’s more, the latest reading above 30 suggests the Peanut The Squirrel price could still drop further before it enters oversold territory.
Momentum also seems to favor bears, as evident by the MACD line’s positioning below the MACD Signal line. Sellers also seem to be gaining strength as the gap between these two lines starts to widen.
With the current technical indicators of the MACD & RSI, traders could continue shorting the Peanut The Squirrel price. This could result in a break under the $1.2697 resistance.
Investors are buying meme coins rivals as the Peanut the Squirrel prices try to hold onto the $1.2697 price support. Crypto All-Stars Stars For potential gains, parabolic.
One platform for Meme coin fans to passively grow their bags
Crypto All-Stars STARS is a project for meme coins that challenges the status quo. The crypto does not revolve around its token alone, but instead allows meme coin enthusiasts to increase their holdings of multiple cryptos on one platform. This is made possible through the project’s innovative MemeVault offering.
Leading tokens including DOGE, SHIB, PEPECOIN, FLOKI, BRETT, MOG, LADYS, TOSHI, COQ, BONK, and TURBO can all be locked up in the Crypto All-Stars ecosystem for rewards that are paid out in the project’s native STARS token.
The fact that investors are able to stake STARS passively adds an extra dimension to this unprecedented staking. Anyone who buys STARS today will be able to access a 379% staking APY.
Apart from the high stakes, several experts also shared their optimistic outlook on the meme coins. Among those that anticipates great things in the project’s future is the popular YouTuber ClayBro. ClayBro, a popular YouTuber with more than 130K followers, said that STARS had the potential to grow 10X following its launch.
Investors rush to purchase STARS in its presale phase
Crypto All-Stars has managed to raise more than $4.7 million throughout its ongoing ICO (initial coin offering), signaling strong investor confidence in the project’s future. Whales are also buying into the meme coin, even at this early stage.
Investors who want to position themselves ahead of the project’s launch and the potential 10X surge forecasted by ClayBro can do so using the simple buy widget embedded on the project’s website.
Currently, STARS is available for purchase at $0.0015933. You can pay with ETH, BNB USDT SHIB FLOKI DOGE PEPE, BNB SHIB FLOKI or by bank card. Once purchased, investors can then put the STARS tokens to work on the website’s staking page to get in on the 379% APY currently on offer.
Buy STARS and stake them here to get the 379% APY.
