Digital asset markets are once again talking about the #ElonMusk effect. After Tesla and SpaceX CEO Elon Musk made a harsh post on the social media platform X (formerly Twitter), the meme coin called #peanut the Squirrel ($PNUT ) gained 13.5% in a short time.
The squirrel named âPeanutâ, who became a social media phenomenon, returned to the stage this time with an Elon Musk tweet full of political references. Then, there was a small âpumpâ in the meme coin market.
đŁïž Striking Statement from Musk: âThey Arrested Peanut, But Didnât Touch Epstein Clientsâ
Elon Musk used the following statements in his post from his X account:
âThey arrested (and killed) Peanut, but they didnât even charge anyone on Epsteinâs client list. The state is already corrupt.â
While this post included harsh reactions both socially and politically, it had a completely different effect on the crypto markets. PNUT Coin, which had been silent for a long time, suddenly skyrocketed and experienced a 13.5% jump from $ 0.211 to $ 0.239.
đ PNUT History: A Meme Coin That Came to Life with Musk's Tweets
Peanut the Squirrel (#Pnut ) was first launched in October 2024. However, the coin's fame came thanks to Musk's humorous posts at the time. Humorous posts made through the "Peanut" character and squirrel-themed memes spread on X enabled the coin to reach a market value of $ 120 million in a short time.
đŻ Whale Entry and Volatility
A large investor movement that took place during that period in particular attracted attention. A whale purchased a large amount of PNUT for 9,600 SOL (approximately $ 1.56 million). However, the developer of the project realized his profit by selling all his assets in a short time, which brought about a sharp decline in price. PNUT's market value dropped from $ 120 million to $ 50 million in a short time.
đ§ Musk Effect: Ignites the Market with a Tweet
Elon Musk's influence on the cryptocurrency market is now an indisputable fact. DOGE, FLOKI, GROK and now PNUT... Musk can cause movements of millions of dollars with just a few words of post. This situation is called "Elon Pump" or "Musk effect" in the crypto market.
Today's PNUT rise is also a classic example of this phenomenon. While the coin's social media interest has increased again, communities have started to reposition themselves in order not to miss this opportunity.
đ What Happens Next?
The following headlines stand out for PNUT in the short term:
Social media interaction has increased again. PNUT groups have become active again on X, Reddit and Telegram.
The $0.240 resistance is critical in terms of technical analysis. If it is broken, a new âhype waveâ may be triggered.
However, the whale movements and developer sales in the coinâs past force investors to be cautious.
𧚠Result: A Squirrel Changed Everything Again!
Peanut the Squirrel is not just a cute meme character⊠Thanks to Elon Muskâs post, he has come back to the crypto agenda and entered the radar of investors. This short-term rise of PNUT Coin showed that Muskâs influence on the crypto market is still strong.
However, considering the sudden collapses and speculative movements in the past, it is very important for investors to act carefully and strategically.
