Main Takeaways
- This article dives into the current hype of $PNUT and tracks its explosive growth.
- The heartfelt origin of the token is mentioned
- We attempt to explain the reasons for its significant attention.
A token originated from Peanut the Squirrel
Introduction
Recently, the cryptocurrency world has been shaken by several events. One of the most impactful must be the tragic death of Peanut the Squirrel. This incident has not only sparked outrage but also led to the birth of $PNUT (Peanut the Squirrel).
Since its launch, $PNUT has gained unimaginable attention. This is like a symbol of the emotional connection and the story behind the meme token.
The Origins of PNUT Coin
Peanut the Squirrel is the main mascot of the Instagram account @peanut_the_squirrel12. The owner of this account, Longo, rescued the squirrel and took care of him for 7 years.
The funny and heartwarming moments of Peanut and Longo uploaded on the account quickly captured the attention of the media. With his intelligence and cuteness, Peanut resonated with animal lovers worldwide.
However, strategy struck in late 2024 when the NYSDEC (New York State Department of Environmental Conservation) seized and euthanized Peanut. The reasons given were laws against keeping wildlife as pets.
The incident quickly sparked anger, amplified by public figures like Elon Musk and Donald Trump. The crowd criticized NYSDEC’s actions and expressed sorrow towards the death of an innocent animal. Eventually, this laid the foundation for $PNUT.
The Rise of PNUT: Tracking Its Explosive Growth
Within more than a week of its debut, Peanut the Squirrel reached a market cap of $2.21B. The 24-hour trading volume surged by 657.5% and surpassed $6.01B. At the moment this article is written, the ATH of this token is $2.47, almost 80 times compared to its lowest recorded. Despite that, it does not show any sign of slowing down.
The number of $PNUT holders is currently 58,790, increased by more than 10,000 holders in just less than 12 hours. With its significant hype, $PNUT is predicted to break the $3 barrier. The rise of this token was tied to its viral and emotional origins, thus distinguishing it from the others in the market.
MevX featured this meme coin in the Trending Section when the surge just started. If you want to look for tokens with similar potential, you may consider visiting MevX.io.
Tokenomics of PNUT
No: Peanut the Squirrel
Ticker: PNUT
Blockchain: Solana
Contract: 2qEHjDLDLbuBgRYvsxhc5D6uDWAivNFZGan56P1tpump
Total Supply: 999.86M
Circulating Supply: 999.86M
Community Take Over (CTO): The Turning Point
Community Takeover (CTO) is when the developer sold all their holdings and stepped away from the project. This leaves the community to take full control of the token’s future, preventing the potential dump from the developers. Overall, this means the community can gather as many tokens as possible without the worry of centralized control.
The CTO of $PNUT was significantly positive news for the token. As the concern for the developer’s dump was eliminated, the community gathered this meme coin in great amounts. Thus, this increased the price of the token significantly, transforming it into a fully community-driven project.
Binance Listing: The First Success
In less than a week since the launch, $PNUT was listed on the Spot market of Binance. This happened when the market cap of the token just surpassed $100M. This move from Binance raised curiosity revolving around Peanut the Squirrel. Note that other meme tokens with much higher market caps, such as $GOAT, are only listed on Binance Future.
Musk and Trump’s Impact on PNUT
Elon Musk’s public support for Peanut the Squirrel elevated the credibility of $PNUT. This multi-billionaire is well-known for his impact on the meme coin market. With just a post on X, he can single-handedly drive a coin to the moon. The current surge of $PNUT is assumed to originate from Musk’s recent post about the squirrel.
Elon Musk’s recent post on X assumed about the squirrel
In response, Peanut the Squirrel usually incorporates Musk’s image in their post on X. This directly brands the token with Musk. These visuals enhance the credibility of the token.
The response of PNUT right below Musk’s post
Trump’s Criticism of the NYSDEC and Government Priorities
Trump’s criticism towards NYSDEC
The recently elected president, Donald Trump, harshly criticized the NYSDEC for their actions on the poor squirrel. He questioned the government’s accountability priorities for letting such an event happen.
In a post on X, he directly stated that the government immediately responded to kill Peanut, a squirrel pet, but allowed 600,000 criminals, 13,000 murderers, and 16,000 rapists knowingly into their country.
With his victory in the election, this post has a great effect on $PNUT. His supporters see Peanut the Squirrel as a symbol of resistance and critique of the former political structures. Thus, $PNUT is attracting more and more investors.
Conclusion
Rooted in a story that resonates emotionally and is bolstered by influential endorsements, $PNUT has captured the attention of both the meme coin market and broader Web3 communities. With its unique backstory, strategic tokenomics, and endorsement from Elon Musk and Trump, $PNUT Coin has positioned itself as a standout in the crowded field of meme cryptocurrencies, paving the way for continued growth and impact.