PNUT Coin Price Prediction: Are Whales Shifting to FRED?

Following Donald Trump’s decisive victory in the 2024 U.S. presidential election, meme coins are gaining fresh momentum. Dogecoin (DOGE) remains a leader, but the Solana-based meme coin Peanut the Squirrel (PNUT) has stolen the spotlight, soaring over 1,500% in just the past week.

The mid-cap meme coin PNUT, now valued at about $1.8 billion, has gained significant traction since its recent listing on Binance. This exposure drove PNUT’s daily trading volume to an impressive $6.4 billion—more than triple its market cap—indicating high demand and widespread interest.

Read more about this below.

PNUT Whale Makes Moves

On-chain data shows that PNUT’s largest holder controls around 27 million tokens, valued at over $51 million at the time of writing. This major trader has engaged in 39 token trades, though only 9 have been successful, with PNUT emerging as a big win.

Between November 3 and 10, the trader purchased roughly $2.8 million worth of PNUT tokens, capturing a significant portion of the rally.

As PNUT’s price climbs, this key holder has begun taking profits, gradually shifting funds to a newer meme coin called First Convicted Raccoon (FRED). Over the past two days, they’ve purchased $671,000 worth of FRED tokens, now holding an unrealized profit of $1.24 million on this investment.

Why FRED?

Inspired by PNUT’s gains, speculative traders are increasingly interested in FRED, which has shown strong growth. In the last 24 hours, FRED surged over 200%, trading at around $0.21 on Thursday, November 14, during the early New York session.

According to recent on-chain data, FRED, with net liquidity of $5.2 million, is experiencing more buyer interest—72,000 buyers compared to 48,000 sellers. With a growing base of over 41,000 holders, FRED appears positioned for continued growth as interest builds.

Who knew a squirrel and a raccoon could cause such a stir in the crypto world? Stay tuned for the next big meme coin sensation.