Solana-Based Meme Coin Peanut (PNUT) Hits $1 Billion Market Cap in Just Two Weeks$PNUT

Peanut (PNUT), a meme coin launched on the Solana blockchain, has caused quite a stir in the crypto world by reaching a market cap of $1 billion in just two weeks. This rapid rise is due to increased visibility and liquidity, thanks to PNUT being listed on major exchanges like Binance and Bybit.

Trading at $1.40 at the time of writing, PNUT has seen a remarkable 230.4% price increase in the last 24 hours. This bull market, which has seen Bitcoin reach a new record of $89,000, has further solidified the token’s appreciation.

Reasons for the Rise in the Crypto Market

One of the reasons for this sudden rise in the crypto market is the possibility of Donald Trump being re-elected as president in the US, where crypto-friendly policies are expected to be adopted. This, combined with the expectation of more favorable regulations for digital assets, has increased the interest of investors. In addition, these developments have created a “supercycle” for meme coins, and investors have started to look for opportunities in the rising market. Coins like PNUT have also started to gain significant interest during this period.

PNUT’s $1 Billion Market Cap: Just the Beginning?

PNUT’s journey to reach a market value of $1 billion parallels the recent changes in the crypto market and the coin’s unique story. Launched on the Solana blockchain, the token quickly gained popularity after being traded on major exchanges such as Binance and Bybit.

These developments and the general market rally provided a significant liquidity flow to the token, and PNUT gained 1084.2% in value over the last seven days. PNUT, which has an important place in the meme coin world, also draws attention with its story based on a squirrel that has attracted great attention on social media. The story behind the token has made the coin rapidly popular in the meme coin category.

Peanut’s Social Media Star Story

PNUT is inspired by digital content creator Mark Longo’s pet and social media phenomenon, Peanut. Peanut’s killing by the New York Department of Environmental Protection and the subsequent backlash on social media increased interest in the token. Celebrities such as Elon Musk reacted to the killing of the squirrel, which led to PNUT becoming more talked about and spreading rapidly among online communities.

Following these events, PNUT was launched on the Solana network and quickly gained traction, creating a loyal following. Peanut’s sad story and popularity on social media have made the token a hot topic among investors.

The Rise of PNUT and Its Future Potential

With the interest in PNUT, the trading volume increased rapidly. The token saw levels of $ 0.45 in the first days and managed to reach its current market value. Analysts believe that although PNUT does not have the same recognition as major meme coins such as Dogecoin or Shiba Inu, it can be a major player in the meme coin market in the future thanks to its distinct identity and interesting story.

In conclusion, Peanut (PNUT) is attracting attention in the meme coin world with its unique story and impressive market performance. It stands out as a potential opportunity for investors with both social media support and increasing liquidity.