The new meme coin Peanut (PNUT), built on the Solana blockchain, has seen a dramatic 2,000% price increase in just a week. This rapid rise marks PNUT as one of the top-performing tokens of the week and has caught the crypto community’s attention.
PNUT’s Demand Surges, No Longer Worth Peanuts
The demand for PNUT is clear from its soaring trading volume. Within just 36 hours, the volume jumped 690%, rising from $291 million to a staggering $2.3 billion. This surge signals growing interest in the meme coin, especially considering its recent launch. Despite being a new entrant, PNUT is already showing strong market sentiment, attracting investors looking for high returns and driven by the token’s rising popularity.
PNUT Enters Top 100 Crypto Assets
PNUT’s impressive rally has pushed it into the top 100 cryptocurrencies by market capitalization. With a market cap now over $1 billion, the token has already outperformed established names like Algorand (ALGO), Raydium (RAY), and Bitcoin SV (BSV). The recent listing of PNUT on Binance has further boosted its visibility, making it accessible to more traders and driving its rapid growth.
This sharp rise in market value highlights the impact of crypto trends and major exchange listings on a token’s performance. PNUT’s growth and strong market presence showcase the significant influence of investor sentiment and market dynamics.
PNUT Price Prediction: Can the Rally Continue?
On Wednesday, PNUT’s price surged another 154%, pushing its trading price to $1.15. This gain adds to the week’s 2,000% increase, indicating strong momentum. If the current enthusiasm in the meme coin market persists, PNUT could aim for a target price of $2.00, assuming investor interest remains high.
However, there’s a risk of profit-taking, which could lead to a pullback in PNUT’s price. New meme coins often face high volatility, and a wave of selling might trim some of the recent gains.
What’s Next for Peanut (PNUT)?
With its strong market entry, Peanut (PNUT) is becoming a rising star among meme coins. The combination of high demand, a significant exchange listing, and strong price momentum could continue to drive its growth. Investors are closely watching to see if PNUT can sustain its rally and reach new price milestones in the coming days.
