Over the past month, institutional investors have been accumulating PNUT while everyday traders were caught offguard with heavy liquidations. Meanwhile, the price action told quite a story:

• First came the brutal selloff—sharp and unforgiving
• Then sideways grind near the lows, testing resolve
• Finally a spike back above where this whole downturn kicked off

The whale activity here is particularly telling. Big players were loading up even as smaller retail accounts hit the exit. That divergence between whale buys and retail outflows typically signals something brewing beneath the surface. When institutional money is moving against retail sentiment, history suggests paying attention.