Last weekend, the MEME coin Pnut became a hot topic among Degens, with its market value breaking the $100 million mark in just one day. This craze is related to the news of the American internet-famous squirrel Peanut being 'captured' and subsequently euthanized, as the public's sympathy for Peanut's unfortunate fate has spread across the internet, especially with the 'stirring' from public figures like Elon Musk, turning this incident into a political movement in the United States, igniting strong outrage and widespread condemnation online.
Pnut's market value once exceeded $100 million, with the deployer earning only $73,000.
In recent days, the MEME market on Solana has seen the resurgence of the Golden Dog project, with the squirrel-themed MEME coin 'Pnut' rapidly spreading as a form of MEME satire culture. Data from Dex Screener shows that starting November 2, the price of MEME coin 'Pnut' began to soar, peaking over 6,600 times its launch price, and its market value also surpassed $110 million on November 3. As of the time of writing, Pnut's market value has fallen back to about $55 million.
In the heated narrative, some smart money made substantial profits, while there were also early sellers who exited the market too soon. According to @ai_9684xtpa monitoring, smart money GmM5U...Hu9vB built a position in $Pnut at a low point, with a cost of $44,851 and a profit of $1.64 million, achieving a return rate of 3668%, and has sold nearly 90% of the position. According to Onchain Lens monitoring, a user spent 8 SOL ($1,392) to buy 19.4 million Pnut, then sold them for 4.09 SOL ($711), incurring a loss of $681, while the value of these tokens once exceeded $1.85 million; according to Lookonchain monitoring, a certain address that sold 19.1 million Pnut at a loss is now worth over $1.6 million. This address spent 11 SOL ($1,882) to buy 19.1 million Pnut, and finally sold them for 4.57 SOL ($783), incurring a loss of $1,099.
It is worth mentioning that according to Lookonchain data detection, the deployer of Pnut quickly sold all of his Pnut after withdrawing 2 SOL from Coinbase to issue Pnut, and the other two wallets associated with it have also sold all of their Pnut, with a total profit of only about $73,000.
After Pnut became popular, the MEME market's attention refocused on other animal MEME coins with similar concepts, such as raccoons and elephants, but currently only Pnut maintains a certain market heat.
The controversy surrounding the detention and euthanasia of the internet-famous squirrel has escalated into a political struggle as a weapon of public opinion.
The attention on MEME coin Pnut is related to the controversy surrounding the detention and euthanasia of the internet-famous squirrel 'Peanut'.
More than seven years ago, mechanical engineer Mark Longo witnessed a mother squirrel tragically die in a car accident by chance. Out of compassion, he took the lonely little squirrel home and named it 'Peanut'. During the care process, Mark Longo shared countless interesting interaction videos between Peanut and himself on his social media account, quickly attracting the attention of hundreds of thousands of fans, and Peanut became an internet animal celebrity.
According to Mark Longo, as his love for animals deepened, he fully dedicated himself to wildlife protection last year, founding a non-profit animal sanctuary called 'P'Nuts Freedom Farm Animal Sanctuary', which currently houses over 300 animals, including horses, goats, and llamas.
However, an unexpected storm broke the peaceful life of Mark Longo and Peanut. According to the Associated Press, on October 30, DEC officials in New York State entered Mark Longo's home without a search warrant and arrested Peanut. 'The treatment I received was as if I were a drug dealer, the officials acted as if they were looking for drugs and firearms,' Mark Longo revealed. The Environmental Protection Agency received complaints from multiple citizens claiming that Peanut is a wild animal and expressed concerns that it could transmit rabies and other diseases.
As a result, Mark Longo had to launch a petition on social media, which quickly received active responses and signatures from tens of thousands of fans. However, the situation did not develop as everyone had hoped. Mark Longo later announced heavily that Peanut had been euthanized by the relevant authorities after being deemed 'illegally kept wild animals'. DEC stated that Peanut bit the personnel involved in the investigation, and this squirrel and another raccoon, Fred, were euthanized for rabies testing.
This news instantly caused a huge uproar online, with countless netizens expressing strong dissatisfaction and anger, and DEC also fell into the whirlpool of public opinion.
'The way New York City treats the squirrel Peanut is as cruel as the way it treated Harambe (the gorilla shot by a zoo to save a boy),' the Dogecoin project tweeted. Elon Musk also joined this mourning activity, continuously posting tweets supporting Peanut and Mark Longo, stating, 'The government should not be allowed to enter your house and kill your pet! This is terrible. Even if keeping a pet squirrel is illegal (which it shouldn't be), why kill Peanut instead of releasing it back into the forest?' 'The government is a ruthless killing machine, Trump will save the squirrels, rest in peace Peanut.' The American satirical news site Babylon Bee remarked, 'Radical squirrels wearing MAGA hats are starting to rise up.'
Elon Musk supports Peanut.
Just as the United States presidential election reaches its climax, this controversy surrounding Peanut has fermented into a campaign against the Democratic Party, even being used as a weapon for political struggle in public opinion.
