---
🚨 “
The cryptocurrency market witnessed yet another example of the so-called “Musk Effect” as Peanut the Squirrel ($PNUT), a meme coin inspired by Elon Musk’s social media antics, surged by 13.5% within minutes following a politically charged post by the billionaire on X (formerly Twitter).
---
🗨️ Musk’s Controversial Statement Sparks Market Reaction
In a recent post on X, Tesla and SpaceX CEO Elon Musk made a striking political comment, stating:
> “They arrested (and killed) Peanut, but they didn’t even charge anyone on Epstein’s client list. The state is already corrupt.”
The tweet, though controversial in tone and context, triggered immediate interest in the PNUT token, propelling its price from $0.211 to $0.239 within minutes — a 13.5% jump in a largely stagnant market.
---
🐿️ PNUT: From Meme to Market Phenomenon
Launched in October 2024, PNUT (Peanut the Squirrel) initially gained traction thanks to Musk’s humorous posts involving the squirrel character. Fueled by viral memes and social media engagement, PNUT rapidly grew to a $120 million market cap, becoming a noteworthy meme coin in the ecosystem.
---
🐋 Whale Activity and Price Volatility
Early trading history of PNUT revealed signs of market manipulation. Notably:
A whale investor purchased PNUT worth 9,600 SOL (~$1.56 million).
Shortly thereafter, the project developer offloaded his holdings, prompting a sharp price correction.
PNUT’s market cap plummeted from $120 million to approximately $50 million, shaking investor confidence.
---
🔥 The Musk Effect in Action
Elon Musk’s influence on crypto markets has become a recurring phenomenon, often referred to as the “Musk Effect” or “Elon Pump.” Whether it’s DOGE, FLOKI, GROK, or now PNUT, Musk’s tweets frequently catalyze rapid and sizable market movements.
PNUT’s latest rally underscores this dynamic once again — a single post reviving interest in a previously dormant token, reigniting social media chatter and renewed investor engagement.
---
📊 What’s Next for PNUT?
Key indicators to watch in the short term include:
Social momentum: Activity on X, Reddit, and Telegram has spiked, with PNUT communities regaining visibility.
Resistance level: The $0.240 price level serves as a crucial technical resistance. A confirmed breakout could ignite a new wave of speculative buying.
Investor caution: Past whale activity and the developer’s history of rapid liquidation urge caution. Market sentiment remains speculative and reactive.
---
🧠 Final Thoughts: Speculation Meets Influence
Elon Musk’s ability to shape crypto narratives remains potent. His latest tweet not only revived the PNUT token but also highlighted the continued volatility and sentiment-driven nature of meme coin investing.
While Peanut the Squirrel may appear to be just another internet joke, its resurgence proves that narrative power and influencer-driven momentum still hold immense sway in the digital asset space.
Investors are advised to proceed with caution, balancing the potential for short-term gains against the high volatility and speculative risks that characterize meme coins.