ACT and PNUT Experience High Volatility as Prices Shift

The memecoin market is, at its core, a hotbed of speculation and rapid price swings. To this mix, tokens ACT and PNUT are showing significant

The memecoin market is known for its high volatility and speculation, and two tokens that have been attracting traders with this mix are ACT and PNUT. Crypto analyst Tony Research highlights Binance’s involvement with these coins, evident in secretive wallet movements and strategic announcements.

While both tokens have been showing volatile price trends, here's a closer look at each coin's price action.

ACT price soared on the chart, driven by high trading volume and buyer momentum. This rise could be attributed to news or speculation that sparked investor interest in the token. However, the price quickly reversed with a steep decline, indicating profit-taking or a loss of buyer interest.

After this, ACT entered a consolidation phase. The price found stability at a lower level, indicating a balance between buyers and sellers. Such a phase usually precedes major price moves as traders await new developments. At the time of writing, ACT was trading at $0.013691, down 9.29% in the last 24 hours, with a trading volume of $781,285.

On the other hand, PNUT price showed even greater volatility, with extreme rises and dramatic corrections visible on its price chart. The token's movement appeared to be linked to events involving Binance, which often led to speculative hype. For instance, after Binance wallet activity, the price initially spiked before plummeting, which could be attributed to corrections to intrinsic value or rapid profit-taking.

However, PNUT chart indicated renewed interest in the token with a rise in price and trading volume. This signaled growing optimism and a potential bullish breakout. PNUT traded at $1.20, down 12.75% in the last 24 hours, with a 24-hour trading volume of $1,426,536,274.

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