#PNUTRush $PNUT

The memecoin Peanut (PNUT), launched on the Solana blockchain, has seen significant activity recently, continuing its volatile journey since its introduction earlier this month. The token gained traction as a tribute to Peanut the Squirrel, a viral social media figure, with its popularity fueled by public outrage over the squirrel’s tragic story and endorsements from figures like Elon Musk.

Currently, PNUT is experiencing notable price fluctuations. After a dramatic rise to $2.10 earlier in November, it is trading around $1.40, showing a 14% gain over the last 24 hours with a market cap of $1.34 billion. Its 24-hour trading volume has also reached $1.6 billion, signaling high investor interest. However, over the last week, the token has faced a decline of nearly 18%, highlighting its speculative nature.

This surge is part of a broader "meme coin supercycle" as crypto markets rally, with some speculating on its potential to rival coins like Dogecoin or Shiba Inu. If you're considering trading PNUT, be cautious of its volatility and speculative risks.