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Whale Grab $6M PNUT – Sign of Imminent Rally?
In a surprising turn of events, whale activity has emerged in the Peanut the Squirrel [PNUT] market. A massive purchase worth over $6 million was made by a single entity, with 10 million PNUT tokens being bought from Binance exchange.
According to blockchain analytics firm Spot On Chain, this significant accumulation brings the holding of PNUT by this whale to 1% of the memecoin’s total supply. This notable move has had a noticeable impact on the market, as PNUT bounced 20% in the past 24 hours and reclaimed its short-term support at $0.6.
While this sudden increase in buying power may seem like an indication that the tide is about to turn for PNUT, it’s essential to take a closer look at key technical indicators before making any definitive predictions.
Source: ambcrypto.com
