Peanut the Squirrel Crypto

Peanut the Squirrel (PNUT), a crypto coin on the Solana blockchain, has surged 1,541% in just seven days and 127% in the past 24 hours, reaching $2.10, with its market capitalization exceeding $2 billion. The viral story behind this cryptocurrency and Elon Musk’s humorous post led to this massive surge.

Peanut The Squirrel (PNUT) Crypto Daily Price Chart. Source: CoinMarketCap From Viral Pet to Peanut the Squirrel Crypto

Peanut the Squirrel rose to fame as a beloved pet rescued by a family in New York. The squirrel gained a massive following on TikTok and 500,000 followers on Instagram for its endearing antics.

However, Peanut’s story took a heartbreaking turn when New York wildlife officials seized the animal, citing state laws that prohibit keeping wild squirrels as pets. Soon after, Peanut was euthanized on October 30, leading to outrage across social media.

The incident went viral online, with critics calling out the then-Biden government for what they viewed as excessive enforcement. Peanut’s owner, Mark Longo, shared the tragic news, which led to further public backlash.

Moreover, Elon Musk jumped in on the controversy on Nov.2, before the 2024 US presidential election. He made a post on X offering condolences to Peanut the Squirrel.

President @realDonaldTrump will save the squirrels

Musk offered his condolences to Peanut the Squirrel. Source: X

Musk’s post can be seen as political support for Trump. After Trump secured his victory in the election, Musk again posted on X yesterday Nov. 13.

Elon Musk posted on X after Trump’s victory in the election.

Moreover, the billionaire’s remark followed his sharing of an image of PNUT in response to a post from Rabbit Hole. The post criticized government spending on HIV research involving transgender monkeys.

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The Launch of PNUT Crypto

Seizing on the viral story, developers launched Peanut the Squirrel crypto (PNUT) on the Solana blockchain on Nov. 5. Initially marketed as a tribute to the late Peanut, the token drew investors’ attention almost immediately. It debuted on the memecoin aggregator platform Pump.Fun and quickly secured listings on major cryptocurrency exchanges. Even Binance listed this memecoin on Nov.11.

The timing of the Peanut the Squirrel coin’s launch—amid widespread online outrage and Musk’s tweets—helped PNUT gain attention from the crypto community. Within days, the coin’s value skyrocketed, becoming one of the most talked-about crypto tokens.

The post Peanut the Squirrel Crypto (PNUT) Soars 1,541% in a Week Following Elon Musk Post On X appeared first on CoinChapter.