Solana tabanlı meme coin Peanut the Squirrel (PNUT)$PNUT
, attracted a lot of attention when Coinbase announced its listing plans. Following this announcement, PNUT gained 19% in value in an hour, reaching $1.27, while its market cap increased to $1.27 billion. The coin, which previously increased by 320% after its Binance listing, is currently trading at $1.11. PNUT is positioned as the most popular meme coin on Solana’s Pump.fun platform.
A post by Elon Musk on social media rapidly increased the market value of PNUT. In just 24 hours, the market value of the coin increased from $3 million to $140 million. However, due to recent crypto market fluctuations, PNUT lost 9.7% of its value. Meme coins offer great earning opportunities, but they also carry high risks. For example, an investor turned a $16 investment into $3 million with PNUT, but such investments should be made with caution due to high volatility.
While there is a general recovery in the crypto market, Bitcoin approaching $ 100,000 and the rise of altcoins have also had a positive impact on low-volume coins like PNUT. Analysts predict that PNUT could be a major player in a meme coin rally that could begin in the first quarter of 2025, and its price could increase by 463%.