According to research by CoinGecko, Peanut the Squirrel broke records by reaching a market value of US$1 billion in just 11 days.
This feat surpasses Dogecoin, which took 1,487 days to reach the same milestone. PNUT’s success highlights the strategies behind memecoin dominance, where timing, virality and narrative drive value.
PNUT and PEPE set new trends
Peanut the Squirrel’s rise began with his unique story. Inspired by a real squirrel removed from its caretaker by the New York Department of Environmental Conservation (DEC), PNUT seized on public outrage. Elon Musk amplified the story on X, rallying support for the squirrel. His adorable mascot, a squirrel in a cowboy hat, added to his viral appeal.
A listing on Binance on November 11 further boosted its market value past $1 billion within days of launch.
Days to $1 Billion Market Cap, Animal Memecoins. Source: CoinGecko.
The rise of PNUT heralds a new era of memecoins, but other tokens have also achieved great success. Pepe, inspired by the famous green frog meme, reached $1 billion in just 19 days.
Its rise was fueled by virality on Reddit and X, combined with listings on Binance and KuCoin. Brett, built on the Base blockchain, reached the milestone in 28 days by capitalizing on the platform’s growing popularity.
Dogwifhat (WIF), a dog-themed token on Solana, reached $1 billion in 81 days using humor and community loyalty. SHIB, dubbed the “Dogecoin Killer,” reached the same milestone in 289 days with its viral marketing.
In contrast, Dogecoin's journey to $1 billion spanned more than four years, relying on popular support and many endorsements from Elon Musk.
Memecoins have evolved to rely on speed, sentiment, and strategic launches. PNUT launched during a spike in the popularity of animal-themed tokens, while Solana’s low-cost infrastructure boosted its adoption. Older tokens like Floki Inu, which took 775 days to reach $1 billion, have shown that adapting utility beyond memes ensures long-term relevance.
Beyond the crypto community
The animal-themed memecoin craze appears to be breaking out of the niche community and finding popularity in mainstream culture. Peanut the Squirrel has inspired memes and merchandise, with its cowboy-hatted mascot becoming a favorite among social media influencers.
TikTok challenges featuring UNEP have increased its appeal to younger audiences unfamiliar with crypto, while changes in the political arena driven by Trump’s reelection are having an impact on older investors.
…I just came across one of the wildest trades I’ve ever seen. US Rep. Mike Collins just bought up to $30,000 worth of a cryptocurrency called “Ski Mask Dog.” It appears to have a market cap of less than $100 million, an account shared on X.
Other tokens like Pepe have gained visibility through meme culture festivals and art exhibitions, showcasing its iconic frog image. Shiba Inu sponsors animal shelters and animal welfare events, broadening its appeal beyond crypto enthusiasts to animal lovers. Additionally, Floki Inu has launched global advertising campaigns and partnered with major sports teams, becoming a household name in the sport.
Memecoins like PNUT and PEPE reveal their market-changing potential, but they also highlight some risks. Their heavy reliance on social sentiment makes these tokens volatile and prone to sudden changes in value.
Exchange listings amplify their growth but expose them to intense speculation. Investors must balance the potential for high rewards with the risks of a hype-driven market and ask themselves: Is this token having its 15 minutes of fame?
Peanut the Squirrel and his ilk represent a new era of cryptocurrencies, blending culture, community and innovation. However, whether this trend will define the future of digital assets or disappear as speculative excess, the memecoin revolution continues to evolve.
The article In record time, PNUT reaches US$ 1 billion in market value was seen for the first time on BeInCrypto Brasil.
