The cryptocurrency market is once again witnessing the powerful influence of Elon Musk, as a single post from the Tesla and SpaceX CEO triggered a significant surge in a lesser-known meme coin ā Peanut the Squirrel ($PNUT ). The coin jumped 13.5% within minutes, fueled by Muskās politically charged commentary on X (formerly Twitter).
š£ļø Muskās Viral Statement: Political Commentary Turns Market Catalyst
Muskās post read:
āThey arrested (and killed) Peanut, but they didnāt even charge anyone on Epsteinās client list. The state is already corrupt.ā
The post, which blends satire with sharp political criticism, quickly gained traction across social media. While the broader context stirred debate, the crypto market responded in typical fashion ā with a sudden and sharp move in the related meme token.
Price Impact:
Before Tweet: $0.211
After Tweet: $0.239
Intraday Gain: +13.5%
šæļø About PNUT: From Internet Joke to Meme Coin
Launched in October 2024, PNUT began as a playful response to Musk's series of humorous posts featuring a fictional squirrel named āPeanut.ā Backed by viral memes and community-driven campaigns on X, the token quickly grew in visibility, reaching a peak market cap of $120 million.
However, early success was followed by turbulence. A major whale investment ā reportedly around 9,600 SOL (~$1.56 million) ā was soon followed by the developerās full exit, leading to a dramatic price drop. PNUTās market cap plunged to $50 million in a matter of weeks.
š Whale Activity and Volatility: A Double-Edged Sword
Past market behavior reveals a cautionary tale:
Whale Entry: Sudden injection of capital via a large purchase boosted short-term hype.
Developer Exit: Immediate liquidation of holdings by the projectās developer caused a sharp price correction.
While Muskās endorsement temporarily revives momentum, these historical red flags remind investors to remain vigilant.
š Technical Analysis & Community Sentiment
Current Resistance: $0.240
A decisive breakout above this level could spark another wave of momentum-driven buying.
Community Activity:
Renewed interest on X, Reddit, and Telegram.
Influencer commentary and meme sharing have increased significantly since Muskās tweet.
Despite short-term hype, the coinās prior instability and history of abrupt exits by insiders continue to shape cautious investor sentiment.
š„ Conclusion: The Musk Effect Strikes Again
Once again, Elon Musk demonstrates his outsized influence on digital assets. From DOGE and FLOKI to GROK and now PNUT, his tweets consistently serve as powerful catalysts in the meme coin space.
Key Takeaways:
š PNUT surged 13.5% after Muskās political meme post.
š Market interest and social media chatter have reignited.
ā ļø Historical volatility and insider activity remain major risks.
While Peanut the Squirrel may appear to be a lighthearted meme, the coinās renewed relevance shows how sentiment-driven surges ā especially from prominent figures like Musk ā continue to define the meme coin landscape.
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