Peanut the Squirrel (PNUT) Price Pumped 10% After Coinbase Added USD Trading Pair

The Peanut the Squirrel price pumped over 10% in the last 24 hours to trade at $0.6129 as of 3:40 a.m. EST as traders rush to buy the meme coin.

Peanut the Squirrel price pumped over 10% in the last 24 hours to trade at $0.6129 as of 3:40 a.m. EST as traders rush to buy the meme coin.

This jump in the PNUT price comes after leading US crypto exchange Coinbase announced that it added a USD trading pair for the meme coin.

Coinbase will add support for Peanut the Squirrel (PNUT) on the Solana network (SPL token). Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.

— Coinbase Assets 🛡️ (@CoinbaseAssets) January sqqq, 2025

Trading for the crypto will begin “on or after 9AM,” on Jan. 14, 2025, “if liquidity conditions are met,” the exchange said in a Jan. 13 X thread.

Peanut The Squirrel Price Trying To Breach Resistance

4-hour chart for PNUT/USD (Source: GeckoTerminal)

The Peanut the Squirrel price bounced off of the $0.4651 support level in the last 24 hours and then broke above the $0.5178 resistance. Now, the meme coin is attempting to flip the technical barrier at $0.6135 into support. Should the altcoin close a 4-hour candle above this threshold within the next 12 hours, it might climb to as high as $0.7045.

On the other hand, a rejection from the $0.6135 resistance level in the next 12 hours could lead to a pullback in the Peanut the Squirrel price. Traders might then panic sell, which could push the meme coin price back to the $0.5178 mark. In an extremely bearish scenario, PNUT could even stand the risk of retesting the aforementioned $0.4651 support level.

Technicals Point To A Continued Increase In The Peanut The Squirrel Price

From a technical perspective, indicators on the meme coin’s 4-hour chart suggest the Peanut the Squirrel price might continue to rise in the coming 24 hours. Both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) point to a continued increase in the price of PNUT.

The MACD line briefly crossed below the MACD Signal line, but has since recovered. Now, with the prior positioned above the latter, the gap between the two technical indicators is starting to grow. This suggests that PNUT’s bullish momentum is starting to pick up steam.

Meanwhile, RSI readings have risen in the last couple of hours. Traders generally see increasing RSI values as a sign of growing buyer strength. This corroborates the bullishness shown by the MACD indicator.

If these technical indicators influence traders’ decision making in the short term, the Peanut the Squirrel price might soon flip the $0.6135 mark into support.

As PNUT tries to overcome resistance, investors are piling into a new meme coin presale by the name of Meme Index (MEMEX) to grow their crypto portfolios.

Several experts have stepped forward to share their bullish predictions for MEMEX. Among them is popular crypto analyst and YouTuber ClayBro, with over 135K subscribers, who says Meme Index could achieve 26X growth in the anticipated meme coin supercycle.

Giving Investors An Innovative Way To Gain Exposure To Meme Coins

Meme Index is a pioneering project that makes it easier for investors to gain exposure to the highly-speculative and booming meme coin market. Central to the project are four unique investment baskets, which cater to investors of varying risk appetites. 

These baskets include the Meme Titan basket, the Meme Moonshot basket, the Meme Midcap basket and the Meme Frenzy basket. Each of these investment products offers a different risk-reward profile. Through this diversified structure, investors are able to balance risk while also positioning themselves in the lighthearted sector of the crypto market.

What’s more, each of the baskets offers investors the ability to invest in more than one meme coin, which could potentially prove to be less risky than if an investor were to go all in on one project.

These baskets are also adjusted on a frequent basis, with MEMEX holders having the opportunity to say which tokens should be added or removed from the project’s baskets. 

MEMEX Raises Over $2.3 Million In Presale – Best Crypto To Buy Now?

Meme Index has already raised more than $2.3 million through its ongoing presale, signaling strong investor confidence in the project’s future. With the opportunity to invest in multiple meme coins at once, combined with the bullish predictions from experts such as ClayBro, it’s no wonder a buying frenzy has erupted around the new meme coin.

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