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The booming sector entails risks
Peanut the Squirrel (PNUT), a homage to the star squirrel in Donald Trump's presidential campaign, also posted an extraordinary growth of 1,579 percent in seven days. A key role was played by Elon Musk with his tweets of (veiled) endorsement of X.
PNUT is already among the top 100 cryptos by capitalization and it does not seem intent on stopping there, given the boost from a “degen” community that is more alive than ever. Its ATH at $2.50 was followed by a consolidation phase around $1.80, and only the loss of critical support around $1.69 could invalidate the bullish trend.
The same reasoning applies to DOGE(GOV), on the strength of a bullish rally fueled by the same factors. Growth of 244% in the last week was followed by an ATH at $0.54, and now the game is on maintaining $0.16.
Investing in these assets entails taking on risks that are outsized even relative to an industry that is already inherently quite complicated. As we like to point out (and explain in depth in our Learn platform), the proper balance of one's portfolio is key when approaching these assets.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
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