Reasons for Peanut the Squirrel (PNUT) and Act I : The AI ​​Prophecy (ACT) Viral and Trending

Bittime - In the cryptocurrency market, several altcoins are stealing the spotlight thanks to their incredible price spikes and growing trends. Two altcoins that are very popular right now are Peanut the Squirrel (PNUT) and Act I: The AI ​​Prophecy (ACT). 

What makes these two so attractive? The answer lies in their listing on Binance, which has driven their price skyrocket. This article will discuss why these two meme coins are currently a hot topic among investors.

What Is Meme Coin?

Before discussing more about Peanut the Squirrel (PNUT) and Act I: The AI ​​Prophecy (ACT), it is important to understand what a meme coin is. In general, meme coins are a type of cryptocurrency created with the main aim of being a joke or meme, but with the hope of attracting attention and creating a large community behind it. 

Typically, meme coins have no clear technical purpose or utility, but are often successful thanks to large community support, price speculation, and often due to promotion on social media.

Peanut the Squirrel (PNUT): A Meme Coin That's Gaining Major Spotlight

Peanut the Squirrel is a meme coin that has become popular after Elon Musk made a post about a squirrel that went viral. This token has a cute and adorable squirrel character, and although it does not have a large technical purpose, its popularity is driven by the community and social media. 

However, recently, PNUT received greater attention after it was announced that this token would be listed on Binance, one of the largest exchanges in the world.

Following the announcement of the listing on Binance, the price of PNUT jumped more than 300%, reaching around $0.42 per token. Trading volume also registered a significant increase of 950%, recording transactions worth $446 million. 

Using Chaikin Money Flow (CMF) analysis, which measures buying and selling pressure based on price and volume, it can be seen that there is a dominance of buying pressure which may continue to support further price increases. However, if too many buyers enter and investors start taking profits, the price of PNUT could fall to around $0.30.

Act I: The AI ​​Prophecy (ACT): An AI-Based Meme Coin That Rocks

Act I: The AI ​​Prophecy (ACT) is a meme coin that incorporates elements of artificial intelligence (AI) in its concept, adding to its appeal among technology and crypto enthusiasts. ACT is part of a meme coin trend that is capitalizing on the popularity of AI, a technology that is increasingly being talked about in the world of crypto and technology in general. 

Although the hype around this token had faded after a huge surge in Goatseus Maximum (GOAT), ACT's listing on Binance again sparked a spectacular price spike.

Also read Major Airdrops: Token Supply, Pre Market Data, and Price Predictions

Within 24 hours of Binance's announcement, the price of ACT surged more than 1,600%, recording a price of $0.40. Trading volume also saw a spike of 7,000%, showing tremendous interest in this token. 

The Moving Average Convergence Divergence (MACD) technical indicator suggests a shift towards bullish momentum, which could support further gains. However, as with other meme coins, if many investors take profits, the price of ACT could fall back to $0.20.

Why Is This Altcoin Going Viral?

Both Peanut the Squirrel (PNUT) and Act I: The AI ​​Prophecy (ACT) are currently very popular thanks to two main factors: their listing on Binance and huge attention from the social media community. 

Binance is one of the largest crypto exchange platforms in the world, and listings on the exchange are often the catalyst that drives altcoin prices soar. Additionally, the huge influence of social media and the involvement of public figures, such as Elon Musk, also provided a significant boost to the popularity of these two coins.

With a rapid increase in trading volume and high interest from large investors, especially crypto whales, these two altcoins look set to continue to be in the spotlight. This rapid price increase has also created a viral cycle among traders, attracting more and more people to join in the price movement.

Sui (SUI): A Layer-1 Blockchain Token That's Also Attracting Attention

Apart from PNUT and ACT, there is another altcoin that is currently receiving attention, namely Sui (SUI). Sui is a token of the layer-1 blockchain that is not only on the rise due to new listings, but also thanks to impressive price increases. In the past week, the price of SUI has risen around 70%, reaching $3.21 per token. Sui shows great potential in the market by continuing to reach new price levels without any significant resistance.

Analysts predict that if this trend continues, SUI price could continue its bull rally and even reach the $4 mark. However, like other altcoins, there is potential for a price drop if traders start taking profits. If that happens, SUI prices could fall back to around $2.63.

Also read Phantom Airdrop: How to Get Free PHNTM Tokens

Altcoin Trends That Are Increasingly Popular

Both meme coins Peanut the Squirrel and Act I: The AI ​​Prophecy managed to steal attention thanks to their listing on Binance which became a big catalyst for the price spike. 

Both show how important momentum is in the crypto market and how social media influence and big announcements can change the direction of the market quickly. With this trend, it is not surprising that this altcoin has become very viral and continues to be discussed on various crypto platforms and social media.

If you are interested in investing in this altcoin, always remember to do research first and be ready to face the high volatility that exists in the cryptocurrency market. 

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