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Peanut the Squirrel (PNUT), a meme coin inspired by the controversial euthanization of a pet squirrel nicknamed Peanut, has surged into the top 100 cryptocurrencies after a series of significant developments.
PNUT, launched in early November 2024, has quickly gained momentum with its market cap surpassing $1.4 billion and a community-driven narrative.
At press time, it ranked at position 62 by market cap, outperforming established coins like ORDI, GALA, MEW, LDO and EOS among others.
PNUT’s rapid rise amid crypto exchange listings
Peanut the Squirrel (PNUT) faced early challenges after it was launched in early November 2024, dropping to a low of $0.03104 on November 4th.
However, the meme coin experienced a remarkable rebound starting on November 11th, 2024, fueled by a broader market uptrend following US political events, including former President Donald Trump’s reelection.
On November 11, PNUT surged by an astounding 320%, reaching a high of $0.4835 as the coin’s narrative picked up momentum.
The rally gained further traction when Binance officially confirmed its listing of PNUT, followed by CoinW’s announcement that the coin would be traded on their MEME and SOL Zone starting November 11th.
This dual listing sparked massive interest in the coin, which soon entered the top 100 cryptocurrencies, boasting a market cap exceeding $1.4 billion.
PNUT’s market growth has been meteoric, with the meme coin gaining 207% in just 24 hours hitting an all-time high of $1.4559 today.
It has become the fastest-growing meme coin to hit a $1 billion market cap, achieving this feat in under 10 days.
This remarkable rise reflects both a strong market rally and the PNUT’s distinctive narrative, which resonates with its community of supporters.
Peanut the Squirrel (PNUT) political appeal
Besides its listing on Binance and CoinW, the other key factor driving PNUT’s success is its unique narrative, which has garnered significant attention from both crypto enthusiasts and political commentators.
At the core of Peanut the Squirrel’s appeal is its association with US politics, with Peanut the Squirrel being portrayed as a hero supporting Trump’s electoral victory.
The coin’s backstory presents the controversial euthanization of the squirrel as a political misstep, positioning PNUT as a symbol of defiance against the current political landscape.
This political twist has fueled interest from influential figures in the crypto and digital art worlds, including prominent artists like Beeple.
Their engagement has amplified PNUT’s visibility and solidified its place in the meme coin space.
The narrative surrounding Peanut has particularly resonated with communities on social media platforms like TikTok and Twitter, where loyal followers share content, memes, and discussions around the coin’s political stance.
PNUT’s growing community engagement is evident in its active Twitter following, which has surpassed 17,000 users.
These supporters are not just drawn to the coin for its humour but also its ability to challenge the norms of traditional politics.
Figures like Elon Musk and Donald Trump have even referenced the meme coin, further fueling social interest and reinforcing the coin’s meme-worthy status.
The future of PNUT
As of now, Peanut the Squirrel (PNUT) shows no signs of slowing down.
The coin has garnered a strong following and continues to be propelled by its humorous political narrative, coupled with significant exchange listings.
CoinW’s announcement of a 5,000 USDT prize pool to celebrate the listing has added an extra layer of excitement and engagement, giving the community further incentives to participate in the growing movement.
Whether or not this meme coin can maintain its rapid growth will depend on its community’s strength and the continued support of major exchanges and influencers.
However, for now, PNUT has firmly cemented its place in the top 100 cryptocurrencies, making waves in the world of meme coins.
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