Peanut the Squirrel meme token (PNUT) jumped from $0.41 to $1.7 in less than a day. The token's market cap peaked at $1.73 billion.
At the time of writing, the meme token is trading around $1.69 and is ranked 68th in the crypto asset rankings on CoinGecko.
Peanut the Squirrel launched in early November on the Solana blockchain. Its mascot was a squirrel named Peanut, who lived with his owner in New York City. On October 30, authorities seized the animal on suspicion of rabies and later euthanized it.
Due to Peanut's media popularity, the news resonated on social media and attracted the attention of influencers, including Elon Musk and Donald Trump Jr.
Peanut the Squirrel has already seen significant price swings in its short history. Shortly after its launch, the meme token rose from $0.005 to $0.12 in 12 hours. At that time, one user missed out on an opportunity to make over $1.6 million by selling the coins at a loss.
Previously, the analyst estimated that 80% of meme coins listed on Binance in 2024 have risen significantly in price.
