Peanut the Squirrel ($PNUT ), a newly launched meme coin on the Solana blockchain, has surged past $1 billion in market cap in less than 48 hours after being listed on Binance.

According to data from CoinGecko, PNUTā€™s market cap was around $128 million ahead of the Binance listing announcement, and has since jumped 10 times, achieving a market cap of $1.3 billion on November 13.

#PNUT ā€™s price has skyrocketed over 280% to $1.6 in the last 24 hours. Over a week, the token has risen around 1,177%.

PNUT was launched on the pump.fun memecoin creator platform soon after the tragic story of a pet squirrel named Peanut went viral.

Peanutā€™s euthanasia by New York Cityā€™s Department of Environmental Conservation officials has sparked an outpouring of grief and anger on social media. High-profile figures, including Elon Musk and Donald Trump, also expressed their outrage over what they perceived as government overreach.

The popularity of the PNUT token is largely fueled by the emotional connection many feel towards Peanut and the viral nature of his story.

Peanut the Squirrel has entered the top 100 crypto assets by market cap, surpassing Jupiter (JUP), Pyth Network (PYTH), and Worldcoin (WLD).

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