With the Peanut The Squirrel price seemingly reaching its limit for the time being, traders are piling into a new meme coin called Pepe Unchained (PEPU), which has raised an incredible $24.7 million to become one of the largest meme coin presales ever.

According to the PNUT/USD 1 hr chart analysis, the Peanut the Squirrel price is on a bearish trend, as it moves towards the lower boundary of the sideways pattern. If this pressure from the bears is sustained, the price of Peanut Squirrel could plunge, with $0.045 acting as the next possible support level in the short term.

The news has sparked widespread backlash, with even Elon Musk weighing in after retweeting a post that urged, “The government should leave people and their animals alone."

The Peanut price has skyrocketed 2,585% in the last 24 hours to trade at $0.01495 as of 8:30 p.m. EST on a 3,403% pump in trading volume to $6.1 million. The PNUT token was created in memory of Peanut,