The $PNUT token, also known as "Peanut the Squirrel," is a meme cryptocurrency launched on the Solana blockchain in early November 2024. It was inspired by the viral story of a pet squirrel, Peanut, whose tragic death during a government seizure caused widespread outrage on social media. This event spurred the creation of the token as a symbol of protest and community solidarity.
Since its launch, PNUT has experienced explosive growth, increasing in price by over 2,000% in its first week. It quickly gained traction, securing listings on major exchanges like Binance and OKX, and achieving a market cap exceeding $1 billion. This positions it among the top-performing meme coins and even surpasses some established cryptocurrencies in market capitalization.
The token's price movements remain highly volatile, with recent peaks around $2.47 and a pullback to approximately $1.16 as of late November. While some analysts believe it could reach $2.00 or higher again if demand persists, others caution about potential profit-taking due to its speculative nature.
Investing in PNUT is high-risk and should be approached with caution, as meme coins often rely heavily on hype and sentiment rather than intrinsic utility. Be sure to conduct thorough research and consider market trends before making any decisions.
$PNUT