Peanut the Squirrel (PNUT) Breaks Out of 150-Day Downtrend, Targeting $1.7907

After spending nearly 150 days trapped beneath a relentless descending trendline, Peanut the Squirrel (PNUT) finally staged a powerful breakout.

Peanut the Squirrel (PNUT) staged a powerful breakout from a relentless descending trendline that had kept the coin largely contained for nearly 150 days. In doing so, the meme coin also moved above persistent resistance and caused a bullish target that now has traders eyeing the $1.7907 mark. To the surprise of some, the rally has also seen a great reversal in the structure of its chart.

The 1D chart shows a dramatic shift in market structure that began in mid-April. Peanut was suppressed beneath a curved descending resistance since late November 2023. But after the trend was broken, the implication is that the market could attempt to reach optimal entry points to varying degrees of success.

This time, however, the breakout has invalidated the bearish trendline and, more importantly, reintroduced Peanut to price discovery zones not seen in months.

$PNUT (Peanut The Squirrel) in Mid-April, showed a KEY PRICE BREAKOUT of a key resisting trend which prices were under for nearly 150 days!

Now being broken out, the target is at the $1.7907 level and prices have shown substantial strength towards it, recently climbing nearly 250%!

Easily heating up. pic.twitter.com/lS4iWXG7Zn

Peanut & 250% Rally

Following the breakout, Peanut surged nearly 280%, climbing from below $0.15 to a recent high around $0.56. The breakout was clean, accompanied by a noticeable spike in volume—a key confirmation that buyers are accumulating and capable of absorbing any overhead supply. Unlike prior rally attempts that fizzled out quickly, this move shows a true change in character. The downtrend wasn’t just paused; it was structurally broken.

From a technical perspective, Peanut’s current structure is incredibly constructive. The prior resistance arc has now become historical, and the bullish impulse that replaced it shows signs of follow-through. Price action forms higher highs and higher lows—a classic bullish signal. With the trend now pointing up, the next logical target is the pre-calculated measured move at $1.7907. This target is derived by projecting the height of the prior downtrend from the breakout point, a standard method to identify post-breakout objectives.

Is a 414% Rally Possible?

Reaching this target would require an additional 414% gain from the current level. However, considering the strength of the recent rally and the volume profile supporting it, the climb looks increasingly attainable. Price responsiveness post-breakout is a crucial factor in validating bullish breakouts, and Peanut has checked that box convincingly. Once the breakout occurred, the market didn’t hesitate.

The accumulation volume has visibly spiked. The volume bars show a clear increase in green-dominated sessions, indicating robust buying activity beyond retail speculation. Additionally, it suggests that informed participants might be positioning for a longer-term trend reversal.

Still, traders should be aware that after such a steep move, temporary pullbacks are natural. A short-term consolidation phase would be healthy and could serve to establish a new support base around the $0.40 – $0.50 range. This would allow latecomers to enter before the next leg up, while giving existing holders reassurance that the trend remains intact.

Peanut has decisively transformed its market narrative. From a dormant meme coin, it has now emerged as one of the most technically promising plays in the crypto space. As long as the breakout continues to hold and the strong volume persists, the $1.79 level might become a probability.