🐿 PNUT Memecoin with a squirrel theme soared 206% after Ilon Musk's remarks
The PNUT token, created in honor of a famous squirrel named Pinat, soared 206% to $1.48 and surpassed $1.3 billion in market capitalization, surpassing well-known assets like Algorand.
After Ilon Musk joked that "squirrel and memcoin" would save America, interest surged.
The rapid growth of PNUT, which recently appeared on the Binance exchange, underscores the appeal of meme tokens for Solana, as such coins now make up 11% of the altcoin market.
The surge also sheds light on the popularity of community-created tokens in the crypto ecosystem.