The crypto world is buzzing again with the unmistakable “Elon Musk effect.” After a bold and politically charged post on X (formerly Twitter), Elon Musk has once again shaken the digital asset space—this time reviving the meme coin Peanut the Squirrel ($PNUT), which surged by 13.5% within minutes.
🗣️ Musk’s Jaw-Dropping Statement:
“They arrested (and killed) Peanut, but didn’t even charge anyone on Epstein’s client list. The state is already corrupt.”
This controversial post, filled with political undertones, didn’t just spark debate—it ignited a rapid “mini-pump” in the meme coin market. PNUT Coin, which had been dormant, quickly jumped from $0.211 to $0.239.
📈 What is PNUT? A Meme Coin Born from Musk’s Humor
First launched in October 2024, $PNUT gained traction after Musk began sharing squirrel-themed memes and humorous posts featuring “Peanut the Squirrel.” It wasn’t long before the coin’s market cap hit $120 million—all thanks to Musk’s influence.
🐋 Whale Activity & Past Volatility
At its peak, a major whale invested 9,600 SOL (~$1.56M) into PNUT. But soon after, the project’s developer cashed out entirely, causing the price to crash. The market cap plummeted from $120M to $50M in a short span.
🔥 Musk Effect: A Proven Market Mover
From DOGE to FLOKI, GROK, and now PNUT, Musk’s tweets continue to cause massive market waves. The term “Elon Pump” has become standard in crypto slang—and today’s PNUT spike is another textbook example.
📊 What’s Next for PNUT?
Key developments to watch in the near term:
Social activity is rising fast across X, Reddit, and Telegram.
Technical resistance at $0.240 is a crucial level—if broken, it could spark a new hype cycle.
However, previous rug-pull concerns and whale actions mean caution is essential.
💥 Final Thoughts: The Squirrel Returns
Peanut the Squirrel isn’t just a meme—it’s a movement. Once again, Musk’s words have brought $PNUT back into the spotlight. While the hype is real, so is the risk. For investors, navigating the Musk-fueled meme coin space means staying alert, strategic, and skeptical of sudden swings.
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