The crypto world is buzzing again with the unmistakable āElon Musk effect.ā After a bold and politically charged post on X (formerly Twitter), Elon Musk has once again shaken the digital asset spaceāthis time reviving the meme coin Peanut the Squirrel ($PNUT), which surged by 13.5% within minutes.
š£ļø Muskās Jaw-Dropping Statement:
āThey arrested (and killed) Peanut, but didnāt even charge anyone on Epsteinās client list. The state is already corrupt.ā
This controversial post, filled with political undertones, didnāt just spark debateāit ignited a rapid āmini-pumpā in the meme coin market. PNUT Coin, which had been dormant, quickly jumped from $0.211 to $0.239.
š What is PNUT? A Meme Coin Born from Muskās Humor
First launched in October 2024, $PNUT gained traction after Musk began sharing squirrel-themed memes and humorous posts featuring āPeanut the Squirrel.ā It wasnāt long before the coinās market cap hit $120 millionāall thanks to Muskās influence.
š Whale Activity & Past Volatility
At its peak, a major whale invested 9,600 SOL (~$1.56M) into PNUT. But soon after, the projectās developer cashed out entirely, causing the price to crash. The market cap plummeted from $120M to $50M in a short span.
š„ Musk Effect: A Proven Market Mover
From DOGE to FLOKI, GROK, and now PNUT, Muskās tweets continue to cause massive market waves. The term āElon Pumpā has become standard in crypto slangāand todayās PNUT spike is another textbook example.
š Whatās 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 levelāif broken, it could spark a new hype cycle.
However, previous rug-pull concerns and whale actions mean caution is essential.
š„ Final Thoughts: The Squirrel Returns
Peanut the Squirrel isnāt just a memeāitās a movement. Once again, Muskās 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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