Can PNUT Hit $50 Soon? Analyst Breaks Down Peanut the Squirrel’s Potential

The meme coin market is heating up again, and Peanut the Squirrel (PNUT) is right in the middle of it. With meme tokens seeing billions in daily trading volume, one crypto analyst thinks PNUT could be one of the next big movers. In a recent video breakdown, Crypto Aarav, a YouTuber with 35,000+ subscribers, shared his thoughts on where PNUT price might be headed and how traders should approach it.According to Aarav, PNUT isn’t just another meme coin, he calls it “the finest token in the meme category.” He believes that despite already making a 3x move, the real pump hasn’t even started. Meme coins as a whole are seeing massive attention right now, with over $1.2 billion in volume pouring in within just 24 hours.Read Also: SUI Price Blasts Past Resistance – Is a New All-Time High Coming This Week?PNUT’s also getting a boost from its exposure on major exchanges like Binance and Coinbase. It’s been trending in the top 5 meme coins for the past few days, which only adds to the hype.PNUT Price StrategyIf you’re thinking of getting in, Aarav suggests being smart about it. He and his group bought PNUT when it was around $0.15 and $0.17. Right now, he says anything up to $0.24 is still okay, but above that, you might want to wait for a breakout before jumping in.He points to a key level around $2.47 to $2.57 as the breakout zone. If PNUT price can push past that, he sees a short-term price target around $10. Long-term? He’s eyeing $100, though, of course, that depends on how things play out.Aarav makes it clear: trading on hope is a quick way to lose money. He’s been trading for 11 years and says that most people lose because they chase pumps without a plan. His advice? Buy the dip or wait for a confirmed breakout. No guessing.He also talks about placing smart stop losses, for example, if you’re buying after a breakout, set a stop around $2.30 just in case things pull back.Read Also: Why This Trader Thinks PEPE Price Will Explode This YearMore than anything, Aarav encourages people to treat trading seriously. He says luck might help once or twice, but it won’t last. He trades with big amounts, sometimes $100k or more, and doesn’t want to lose a single dollar. That’s the mindset he wants viewers to adopt, too.With a market cap still hovering around $500,000, PNUT price might have room to grow. But as Aarav puts it, don’t just chase the hype. Have a plan, know your entry, and stay disciplined.Read Also: Can Dogwifhat Repeat Its Early 2024 Pump? Here’s Why WIF Price Could Hit $3 SoonFollow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.Read our recent crypto market updates, news, and technical analysis here. We recommend eToro Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading. Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. Copy trading: allows users to copy the trades of leading traders, for free. User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate. The post Can PNUT Hit $50 Soon? Analyst Breaks Down Peanut the Squirrel’s Potential appeared first on CaptainAltcoin.