Peanut the Squirrel (PNUT) shot up 12% after Elon Musk posted a vague tweet that sent crypto speculators into a frenzy. While the tweet didn’t mention PNUT directly, meme coin traders piled in—but on-chain data tells a different story.

Who Really Profited?

🔍 Smart Money Moved First:

• $1.54M PNUT flowed onto exchanges before the tweet (early positioning)
• $920K PNUT withdrawn after the peak (likely retail buying high)

📉 Retail Got Left Holding the Bag:

• Funding rates barely budged (still negative at -0.0074%)
• Shows weak conviction in the rally

Key Price Levels to Watch

✅ Resistance:

• $0.2386 (0.382 Fib)
• $0.245 (breakout zone)
• $0.256 (next target)

⚠️ Support:

• $0.216 (trendline & 0.786 Fib – must hold)
• Break below flips bias bearish

The Bigger Picture

Meme coins live and die by hype—but on-chain flows don’t lie. This looks like a classic case of:

1. Whales front-running the pump
2. Retail FOMO-ing near the top
3. Smart money exiting quietly