- Binance’s involvement sparks speculative trading in ACT and PNUT amid sharp price swings.
- ACT stabilizes post-correction, signaling traders await fresh catalysts for next moves.
- PNUT sees renewed interest as rising volume hints at a potential bullish breakout.
The memecoin market is, at its core, a hotbed of speculation and rapid price swings. To this mix, tokens ACT and PNUT are showing significant activity, attracting traders. Crypto analyst Tony Research notes Binance’s involvement with these coins, seen in secretive wallet movements and strategic announcements. Both tokens, for the most part, are showing volatile price trends.
ACT/SOL’s price chart tells a story of dramatic highs and lows. The token initially jumped upward, propelled by high trading volume and buyer momentum. This rally likely stemmed from news or speculative enthusiasm, creating a wave of investor interest. The price then quickly reversed with a steep decline, pointing to profit-taking or a loss of buyer interest.
ACT entered a consolidation phase after this. The price found stability at a lower level, showing a balance between buyers and sellers. This phase often precedes major price moves as traders await new developments. At press time, ACT traded at $0.013691, down 9.29% in the last 24 hours, with a trading volume of $781,285.
PNUT: Riding Waves of Volatility
PNUT/SOL demonstrates even greater volatility with extreme rises and dramatic corrections on its price chart. The token’s movement correlates with Binance-related events, which often generate speculative hype. For example, after Binance wallet activity, the price initially spiked before plummeting, likely due to corrections to intrinsic value or rapid profit-taking.
Read also: Whale Alert: Acet (ACT) and Peanut (PNUT) Experience High Volatility as Prices Shift
Despite these fluctuations, PNUT’s chart shows renewed interest. The token saw a rise in price and trading volume recently. This signals growing optimism and a potential bullish breakout. PNUT trades at $1.20, down 12.75% in the last 24 hours, with a 24-hour trading volume of $1,426,536,274.
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Source: https://coinedition.com/act-pnut-volatility-binances-hidden-hand-revealed/