Peanut the Squirrel Surges 13% Eyeing to Reclaim $1 Milestone

• Peanut the Squirrel has factored in a significant price increase of 13.59% in the past day.
• The memecoin’s daily trading volume surged by 200.12% as per CMC data.

The crypto market has begun to show a revival after Trump announced the summit at the White House. With Bitcoin reclaiming its $85K level, the alt sector has also proceeded towards a recovery in the past day. Particular altcoins have shown significant surges insinuating confidence among investors

Some of these altcoins include Hedera and Celestia. Within the memecoin sector, Peanut the Squirrel (PNUT) has factored in a significant 13.59% surge over the past day. In the afternoon hours of February 28, the memecoin was trading at a low of $0.1977. However, following this, the token surged to reach the $0.2 range

Additionally, Peanut the Squirrel hit an intra-day high of $0.306 as its price surged 28%. Due to a correction that followed, the cryptocurrency has retraced to the $0.2 level. At the time of writing, Peanut the Squirrel was trading at $0.2237 as per CMC data

Notably, if the memecoin manages to sustain its current bullish momentum, then it might surge to its previous high levels. Its weekly chart depicts a 34.26% surge highlighting the bullish trend. Thus PNUT is expected to soon reclaim its $1 milestone

Will Peanut the Squirrel Sustain the Bull Run?

Analyzing its technical indicators, the Moving Average Convergence Divergence (MACD) MACD line stands above the signal line. This clearly depicts the existence of a bullish trend, in the altcoin’s price movements

PNUT/USDT Daily Price Chart (Source: TradingView*)*Moreover, the altcoin’s RSI value stands at 51.85 as per TradingView data. This highlights an increasing interest of investors in the token. Moreover, if Peanut the Squirrel sustains the bullish trend it can be expected to face resistance at $0.2864 and $0.5454

Meanwhile, other altcoins such as Solana and XRP have also managed to break out of the bearish restraints in the past 24 hours

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