Just in: Peanut (SOL: $PNUT) Gets Listed on MEXC & LBANK

4 nov

In an intriguing turn of events, Peanut the Squirrel (PNUT), a community-driven cryptocurrency inspired by the famous Instagram squirrel, has been making headlines. As of today, PNUT saw a listing on two renowned centralized exchanges, MEXC and LBANK, without the team paying any listing fees. This rare occurrence underscores the strong community backing and potential of this token, which has traders buzzing.

Market Performance & Technical Analysis
At the time of writing, PNUT is trading up by 9.16%, with a Relative Strength Index (RSI) of 44, indicating neutral momentum. Earlier, PNUT surged to an impressive market cap of $130 million before cooling off and consolidating around $59 million. Despite this retracement, the token’s price pattern suggests bullish potential. It appears to be forming a presumed falling wedge, a bullish reversal setup. If Bitcoin (BTC) manages to stage a comeback amidst current market consolidation, PNUT could potentially follow suit, giving investors reasons to stay hopeful.

Trading Volume & Popularity
The daily trading volume of PNUT stands at $187,876,966, though it has seen a decrease of 42.60% in the past 24 hours, reflecting some ebb in market activity. Despite this, the coin continues to outperform its peers, especially in the meme cryptocurrency segment, even as the broader crypto market has struggled.

Exchanges & Accessibility
PNUT is widely accessible, being traded on both decentralized and centralized platforms. The most active market remains Raydium, where the PNUT/SOL pair has amassed a trading volume of $134,905,786 in the last 24 hours. Other notable exchanges for PNUT trading include Raydium (CLMM) and Meteora, alongside the new listings on MEXC and LBANK.

Key Metrics & Price Highlights
- All-Time High: The highest price recorded for PNUT was $0.1279, achieved on November 3, 2024, marking a significant milestone for the token. However, it is currently 53.63% below this peak.

- All-Time Low: The lowest recorded price was $0.04452, observed on November 4, 2024, with the current price now 33.24% higher.

- Market Cap & FDV: The current market cap of $59,447,124 places PNUT at #592 on CoinGecko. The fully diluted valuation (FDV) mirrors this figure, based on the 1 billion tokens circulating today.

Community Power & Celebrity Influence
What makes PNUT more than just another meme coin is its emotional and social impact, stemming from the story of Peanut the Squirrel. The tragic and widely publicized euthanization of Peanut, owned by digital creator Mark Longo, has galvanized a passionate community. Figures like Elon Musk have even referenced the coin, using the ticker PNUT in cryptic tweets, sparking waves of investor interest.

A Coin with a Mission
Beyond the financial allure, PNUT embodies a movement against perceived governmental overreach, drawing on the powerful narrative of Longo’s loss and his dedication to animal welfare. With significant momentum, major exchange listings, and a loyal community, PNUT stands as a testament to the strength of community-driven crypto projects.

Conclusion
With new exchange listings and a story that resonates deeply, PNUT is positioned for further growth. However, as always, investors should proceed with caution, remembering that market dynamics can change rapidly. Is PNUT a simple meme token, or does it have the potential to become a crypto legend? Time will tell.

*Disclaimer: This article is for informational purposes only and does not constitute financial advice.*