• Over the last day, Peanut the Squirrel (PNUT) has jumped in price by 20.80%, moving from $0.1596 up to $0.1928.
• The overall crypto market is valued at a massive $2.95 trillion, though daily trading activity has dipped by 22% to $144 billion.
• For PNUT, keep an eye on the $0.2406 mark as a strong hurdle to overcome, while $0.1600 seems to be holding as a reliable floor, even as the upward push loses a bit of steam.

Good news for crypto fans! The market is bouncing back from its recent dip, with the total value of all cryptocurrencies climbing to $2.95 trillion. Even though the market is looking up, the amount of trading in the last 24 hours has actually dropped by 22% to $144 billion. But don’t worry, leading alternative cryptocurrencies are picking up speed, and memecoins are also making a strong comeback, with their combined market value rising by 6% to $58.20 billion.

Leading the charge is Peanut the Squirrel (PNUT), a memecoin built on the Solana network. PNUT has really taken off, becoming one of the top performers with a 20.80% jump in just the last 24 hours, currently trading around $0.1758. This exciting run started on February 23, 2025, when PNUT took off from $0.1300 and reached a high of $0.2300. After hitting some resistance at $0.2300, the price briefly went back down to $0.1400, but it has since bounced back nicely.

As we’re writing this, PNUT has continued its recovery and is now trading at $0.1735, which means it’s up 25% over the past week, according to data from CMC. Even with all this positive movement, looking at the bigger picture, PNUT is still down 30% over the last month. On the bright side, its market capitalization has shot up to $173 million, and trading volume is an impressive $336 million.

Can PNUT Smash Through the $0.2400 Resistance?

Looking at the technical charts for the last hour, it seems PNUT is still on an upward trend. However, there are signs that this bullish energy might be slowing down as more people start selling, putting pressure on the price.

We’re starting to see red candlesticks on the chart, signaling a potential dip. This started when the price hit $0.2011, suggesting the bulls might be losing a bit of control. However, the $0.1600 level is still acting as strong support, meaning it should hold off any major drops and keep the overall bullish trend intact.

Looking at technical indicators like the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD), the outlook still seems positive. The RSI has reversed direction and is now trending upwards around the 50 mark, suggesting there’s still room for growth before things get overbought, potentially pushing the price even higher.

What’s more, the MACD indicator is also looking up! It’s shifting from negative to positive territory, and the red bars on the histogram are starting to disappear. This is generally seen as a sign that buying activity is picking up.

If the current momentum continues, breaking through the $0.2011 level could set the stage for another push towards the major resistance point at $0.2406. It will be crucial for buyers to maintain control so that the bulls can keep pushing PNUT’s price past these important levels.v