PNUT is showing early signs of a bullish reversal as price action holds above the key $0.3150 support level. Technical indicators and structural levels align to favor the bulls.
Recent data from TradingView shows that PNUT/USDT formed a descending wedge over the past week. This was after a sell-off from the $0.40 range. Indeed, this pattern, typically a bullish reversal signal, resulted in a breakout above the wedge’s upper trendline. The occurrence was during the early hours of May 21. Notably, the H1 candle confirming the breakout closed decisively in the green, supported by strong volume. This is a critical factor that suggests renewed buyer confidence at current levels.
PNUT Finds Price Stability
The crypto market structure supports this short-term bullish thesis. After declining sharply around May 14, the price found stability in the $0.31–$0.32 range. This aligned closely with the previously established daily support level of $0.3150. This level has now been tested multiple times and held firm, forming a potential higher low on the intraday charts. As of May 22, PNUT is trading around $0.36.
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Momentum indicators support this view. Though not explicitly shown in the latest chart, the candle structure and market reaction around the breakout suggest that buying pressure is gradually returning. If the price holds above $0.34, bulls could aim for key resistance levels around $0.3674. It could even move potentially as high as $0.3974.
Still, traders should approach with measured optimism. The current setup is bullish, but PNUT remains in a wider neutral daily zone. The price must clear several overhead resistance zones before confirming a macro-level uptrend. Any breakout attempts that fail to follow through could invite renewed selling pressure.
Is There More Upside in the Future?
A close above $0.3674 on the lower time frames could encourage further upside. That level, just below the psychological $0.37 threshold, marks a key decision point. Hence, reclaiming it would invalidate the prior local downtrend and set up a potential run toward the $0.39–$0.40 zone.
If buyers fail to defend $0.3150 in the event of another pullback, the bullish scenario would weaken considerably. A break below this zone would expose PNUT to downside risk toward the lower support range near $0.30. It could possibly go deeper into the red demand zone near $0.26.
With PNUT showing early signs of a bullish reversal and holding critical support, momentum is shifting in favor of the bulls across the meme coin market. As technical patterns flash green and investor sentiment rebounds, the window to catch the next big move is narrowing.
Next Wave of Meme Coins
Bitcoin Pepe (BPEP) is emerging as one of the most talked-about meme coin projects in the crypto space. BPEP is the first meme-based ICO to launch on the Bitcoin layer, and introduces the PEP-20 token standard. This is similar to how ERC-20 reshaped Ethereum. However, Bitcoin Pepe is more than just a playful meme.
The project’s ecosystem combines the lightning-fast transaction speeds seen in networks like Solana with the stability and trust of Bitcoin. The BPEP team envisions a future where meme tokens go beyond hype and become central to real-world use cases in DeFi, NFTs, and blockchain gaming.
The platform currently has more than 10 partnerships. Some of these include BETV for NFT content and CATAMOTO for fair launches. A partnership with GETE allows cross-chain games and Crypto Hunters for AR and AI experiences. Plena Finance provides support to its dApps and smart contracts, establishing a meme-centric decentralized exchange and NFT market.
With staking rewards sold out and high presale interest, the presale is ending shortly. The presale ends on May 31, 2025, placing Bitcoin Pepe as an emerging project picking up traction. As it prepares for its CEX listing, BPEP and its partnerships reinforce its mission to bring a Solana-style meme economy to the Bitcoin network.
