Elon Musk’s Response to Peanut the Squirrel Causes Surge in PNUT Meme Coin

Solana-based meme coin Peanut the Squirrel (PNUT) has witnessed a rare market surge.

Solana-based meme coin Peanut the Squirrel (PNUT) has witnessed a rare market surge, reaching a staggering $130 million market capitalization in simply three days following a controversial incident involving its namesake.

The exceptional worth motion was triggered by Tesla CEO Elon Musk’s response to the tragic information of a beloved squirrel’s demise whereas in the custody of New York’s Division of Environmental Conservation (NYS DEC).

The incident started when Mark Lengthy, the squirrel’s caretaker, reported that authorities had confiscated each the squirrel and a raccoon beneath his care. The next information of the animal’s demise sparked widespread outrage, with Musk notably commenting, “The federal government is a senseless and heartless killing machine.”

This social media storm catalyzed an unprecedented shopping for spree of the PNUT token. According to information from sensible cash platform GMGN, early buyers dedicated hundreds of {dollars} inside hours of Musk’s remark. The momentum intensified as whale buyers entered the market, with one notable dealer exchanging 5,100 Solana tokens for roughly 8.99 million PNUT, valued at almost $840,000.

The token’s buying and selling quantity surged previous $300 million as its worth peaked at $0.14, although profit-taking has since pulled the market capitalization again to round $94 million, with the worth settling at $0.094.

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Elon Musk’s Response to Peanut the Squirrel Causes Surge in PNUT Meme Coin coinmarketcap.com 2024-11-04 15:24:14

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