The Solana-based meme coin PNUT has surged 20% after Coinbase added the token to its roadmap. Within 24 hours, trading volume reached $1.5 billion, highlighting the growing interest in this asset.
PNUT Overtakes Other Meme Coins
Following the Coinbase announcement, PNUT's market capitalization climbed to $1.34 billion, surpassing other popular meme coins such as POPCAT and MOG COIN. Currently trading at $1.34, PNUT's growth continues to attract investor attention.
PNUT's Controversial Origins
PNUT first gained traction in the crypto community due to a viral incident involving the New York Department of Environmental Conservation, which euthanized a squirrel named Peanut. This controversial story fueled the coin's popularity, pushing its market cap to an all-time high of $2.4 billion.
Coinbase's Strategy Focused on Meme Coins
Coinbase's decision to list PNUT reflects a broader strategy of capitalizing on the growing popularity of meme coins. Recent additions like MOG COIN, MOO DENG, and PEPE further emphasize the platform's focus on this category of assets.
PNUT's Outlook: Sustained Growth Ahead
With its presence on major platforms like Binance and Coinbase, PNUT is poised to extend its rally into 2025. The increasing interest in meme coins, combined with the support of leading exchanges, indicates that PNUT could see continued growth in the coming months.
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