PNUT, or Peanut the Squirrel, is a meme-based cryptocurrency launched on the Solana blockchain on November 5, 2024. It was created as a tribute to a viral social media sensation, Peanut the Squirrel, who tragically became the center of a controversy. Peanut was a pet squirrel with over a million followers online and was adored for his antics. The squirrel's seizure and euthanasia by New York State authorities sparked outrage, leading to the coin's creation by anonymous developers.

The cryptocurrency gained rapid popularity, bolstered by high-profile support from figures like Elon Musk, who referenced it on social media. Its price saw a dramatic surge, peaking at $2.44 before stabilizing around $1.65 as of today. The token has reached a market capitalization exceeding $1.65 billion, with its trading volume remaining significant on platforms like Binance​​​​​​.

PNUT's rise is emblematic of the growing trend of meme coins tied to internet culture. While currently showing bullish momentum, potential investors should approach with caution, as meme coins are highly speculative and subject to volatility​​.$PNUT #PNUTRush