$PNUT $PNUT (Peanut the Squirrel) is a meme coin based on the Solana blockchain, inspired by a popular squirrel named Peanut. Peanut is a pet squirrel widely loved in the United States, whose owner Mark frequently shares its daily life on Instagram, amassing over 500,000 followers. However, on October 30, 2024, the New York State Department of Environmental Conservation (DEC) confiscated and euthanized Peanut due to illegal keeping of wild animals and rabies risk, an incident that sparked public outrage and mourning.
The launch of the PNUT token is precisely to commemorate Peanut and turn its story into a community movement aimed at protecting small animals. After its launch on the Solana blockchain, the token quickly gained market attention and investor interest. The market capitalization of PNUT skyrocketed in a short time, and trading volume was also substantial. Additionally, PNUT received support from several prominent figures, including Elon Musk, who expressed their condolences for Peanut on social media and helped propel the popularity of the PNUT token.
The surge of the PNUT token has been remarkable, with a daily increase of 47.77%. This strong market performance is mainly attributed to its unique story background, community support, and social media promotion. Although the increase in PNUT is eye-catching, investors should remain cautious of its high volatility and potential risks as a meme coin.
