The crypto market is bouncing back after a recent decline. The total market cap has risen to $2.95 trillion. However, the 24-hour trading volume has dropped by 22% to $144 billion. Despite this, many altcoins are gaining strength. The memecoin sector has also seen a significant recovery, with its market cap increasing by 6% to $58.20 billion.
One standout performer is Peanut the Squirrel (PNUT), a memecoin based on Solana. In the last 24 hours, PNUT’s price jumped by 21.80% to $0.1858. This upward trend started on February 23, 2025, when PNUT rose from $0.1300 to a peak of $0.2300. After hitting resistance at $0.2300, the price fell back to $0.1400 but has since made a recovery.
Currently, PNUT is trading at $0.1735, marking a weekly gain of 25%, according to CoinMarketCap data. However, it is still down 30% for the month. The market cap for PNUT has increased to $173 million, with a trading volume of $336 million.
There is speculation about whether PNUT can break through the key resistance level at $0.2400. Technical indicators on the hourly chart show that PNUT is on a bullish path. However, the bullish momentum is slowing as selling pressure increases.
