Peanut the Squirrel (PNUT) has become the most popular memecoin based on Solana. From the price of $0.52, PNUT has increased to the high of $2.35, an increase of over 3,500% in a few days. However, investors should remember that memecoins are highly volatile and can cause gains to vanish in a single session.
Memecoins are good for trading plays, but actual wealth is made by investing in utility coins. Recently, Solana investors have been behind this multi-utility trading platform, DTX Exchange (DTX). DTX has been viral since its launch, not because of the hype but because of its good fundamentals.
Will PNUT Continue The Same Price Momentum?
Peanut the Squirrel (PNUT) is a meme coin inspired by a pet squirrel who became a social media star. Before making global headlines, Peanut had already gained over 500,000 followers on Instagram. Initially, PNUT’s market cap was just under $10,000. Two weeks later, it skyrocketed past $2 billion.
If the price of PNUT keeps gaining momentum, driven by growing adoption and a new all-time high (ATH), the coin could lead to a new price high. However, a bearish trend might push the price down to its support level of $1.5 and $1. Considering the current buying and selling activity, PNUT could retrace more for a few days.
Robinhood Introduces Solana and Additional Cryptos for US Investors
Robinhood Markets has expanded its crypto offerings for U.S. traders, adding Solana and other digital assets following Donald Trump’s presidential election. Solana, a cryptocurrency built for the Solana blockchain, powers decentralized and scalable applications.
Solana recently overtook BNB to become the fourth-largest cryptocurrency by market cap. This milestone fueled a spike in trading activity on its blockchain, which was celebrated for its speed and low fees. Data from DefiLlama shows that SOL’s daily trading volume reached $7 billion on Wednesday, with weekly volume soaring to $30 billion—a remarkable increase compared to the previous week.
DTX Exchange (DTX) Redefining Digital Trading
The cryptocurrency market defies expectations and records continuous innovation in different fields. DTX Exchange (DTX) is an example of such innovation, which has become popular in the trading industry due to its advanced technology and increasing market share.
DTX Exchange aims to completely change the way investors trade assets. Designed on the Layer 1 VulcanX blockchain, it offers unmatchable speed, efficiency, and security. Due to its hybrid nature, DTX Exchange has the features of centralized and decentralized trading exchanges, making it unique in its value proposition.
The platform supports 100,000 instruments in different popular assets. Its 1,000x leverage makes it popular among seasoned traders who can efficiently use the high leverage to produce large gains. For beginners, features like copy trading and social trading help them in their trading journey.
DTX Exchange has 0.4-millisecond order execution capabilities and advanced algorithmic and quantitative trading tools. These integrations make the outlook very promising. Currently, the DTX token is priced at $0.1, and early investors in the DTX token presale will receive more benefits.
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