KEYTAKEAWAYS
- $PNUT, inspired by Peanut the Squirrel, surged over 600% within days, symbolizing social and political change.
- Major listings like Binance accelerated $PNUT's growth, showcasing the wealth potential of trending meme coins.
- Despite its popularity, $PNUT’s rapid rise reveals high volatility, highlighting the need for cautious investment strategies.
CONTENT
$PNUT, a memecoin inspired by a beloved squirrel, captivated social media and saw explosive growth. Listed on Binance, $PNUT represents both social buzz and political reform influence.
WHAT IS $PNUT?
In New York State, the seven-year journey of Peanut, a beloved squirrel adored by social media fans, and his owner, Mark Longo, came to an abrupt end.
Last Wednesday, the New York State Department of Environmental Conservation (DEC) raided Longo’s farm, seizing Peanut along with a raccoon that was under rehabilitation.
Recently, the DEC updated its statement, confirming that both animals were euthanized for rabies testing.
The incident has sparked a massive discussion on social media across the U.S., leading some to launch a memecoin, $PNUT, in memory of Peanut.
Within a week, $PNUT attracted listings on major exchanges like Binance and OKX, surging over 600% since November 4.
▶ Official webiste: https://www.pnutsol.com/
The controversy surrounding Peanut gained intense attention even before Trump’s election.
Elon Musk publicly voiced his support, and Trump’s son used the incident to rally against the Democratic administration, calling for its removal.
For PNut https://t.co/v9lr3UxpVC
— Elon Musk (@elonmusk) November 5, 2024
Some even believe that Peanut indirectly contributed to Trump’s victory. Following Peanut’s euthanasia, $PNUT, a memecoin themed around him was created.
The $PNUT website states: “Our beloved squirrel Peanut was taken and euthanized by the NYSDEC.
This rescued seven-year-old squirrel symbolized the P’Nut Family Free Farm Animal Sanctuary, an organization dedicated to rescuing and rehabilitating injured and abandoned animals.
Though no longer with us, Peanut will live on forever. Forever Peanut.”
▶ Official X: https://x.com/pnutsolana
THE RISE OF $PNUT
In the crypto world, aside from Bitcoin, memecoins have proven to be among the most impactful in generating wealth. DOGE and SHIB are the two most iconic examples.
At its peak, DOGE’s market cap exceeded $100 billion, while SHIB reached $60 billion. Both coins have strong ties to Elon Musk, whose support fueled their explosive growth.
In the recent bull market, Bitcoin reached new all-time highs, and DOGE’s market cap surged from $10 billion to $57 billion within days—again influenced by Musk’s impact.
Memecoins have garnered such attention largely because they represent a focal point of global interest: Musk himself.
This time, $PNUT symbolizes political reform and America’s future, showcasing a more mature side of Musk and Trump. PNUT is rapidly emerging as a high-potential meme coin in today’s market.
(source: coinmarketcap)
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$PNUT Surges Again Following Binance Listing
On November 11, 2024, at 18:00, Binance listed Peanut the Squirrel ($PNUT) and opened spot trading. Within just an hour, $PNUT tripled in price, with its market cap soaring to $400 million.
Fueled by social media buzz and political events, $PNUT’s impressive rise exemplifies meme coins’ “quick profit through trends” potential to the fullest.
However, despite its popularity driven by the squirrel incident, $PNUT—like other meme coins—carries inherent risks. Behind the rapid price surge lies significant volatility, and investors should remain mindful of risk management.
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$PNUT Story: A Missed Fortune
If you missed out on the recent $PNUT wealth surge and are feeling down or anxious, take a look at this story—it might ease your mind.
Earlier this month, one man bought 19.4 million $PNUT in three transactions, spending $1,366. Shortly after, he sold everything for around $694, incurring a $669 loss. As of this writing, those $PNUT are now worth $32 million!
>>> More to read: Peanut the Squirrel: How a Viral Pet Story Sparked Crypto Surge Amid 2024 U.S. ElectionWhat Is Memecoin And Why Are They Popular?
$PNUT Conclusion
Currently, market capital is flowing towards BTC, VC-backed tokens, and meme coins like $PNUT. For investors, $PNUT stands out as one of the most promising meme coin options available.
If you believe in the future of meme coins, $PNUT is undoubtedly a potential stock worth watching.
With Elon Musk’s influence continuing to grow, $PNUT’s future looks promising. We may be witnessing the rise of a new wave of meme coins, driven by forces of politics, reform, and the power of a new administration.
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