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1- What Is Peanut the Squirrel (PNUT) Token?
Peanut the Squirrel (PNUT) token, launched in early November 2024 on the Solana blockchain, is a meme-based cryptocurrency inspired by a viral social media sensation, Peanut the Squirrel. Combining charm and community-driven engagement, PNUT has rapidly climbed the ranks of the crypto world surpassing some of the major tokens and meme coins, ranking at #47 now by its market cap exceeding $2B in less than 2 weeks, and attracting investors and enthusiasts alike.
2- PNUT Price From All-Time Low to High In 10 Days: HOW?
PNUT’s price journey has been nothing short of extraordinary. Here’s a timeline of its performance milestones:
- All-Time Low: On November 4, 2024, PNUT’s price was $0.03128. Within just 10 days, its value surged by over 6,000%.
- All-Time High: On November 14, 2024, PNUT peaked at $2.47, showcasing a meteoric rise fueled by strong market sentiment and community support (a few hours ago today).
As of November 14, 2024, PNUT is trading at $2.04, marking a 16.58% dip from its all-time high but retaining an impressive 24.14% daily gain.
PNUT Market Metrics
- Market Cap: $2.01 billion (+22.00%)
- 24-Hour Volume: $4.45 billion
- Circulating Supply: 999.85 million PNUT
- Total Supply: 999.85 million PNUT
Such rapid growth has placed PNUT among the top 5 trending tokens today and made it rank as this week's best performer among all cryptocurrencies, competing with the eldest cryptos to ever exist. When it goes down to the meme coins category, since its launch, it has gathered an incredibly huge market cap of over $2B making it surpass other notable names like POPCAT, MEW, NEIRO, MOG, and many more and closely behind FLOKI, threatening to surpass it soon if it keeps the same trend and investors interest high. Comparing its performance, the best match would be Act I: The AI Prophecy (ACT), though still far behind at rank #108 -double that of PNUT- despite the impressive performance it has managed to pull. Another similar performance to relate to would be that of Goatseus Maximus (GOAT), now still also behind at #83 with $907.50M in market cap.
Key Drivers Behind PNUT’s Success
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Viral Popularity
The real-life Peanut the Squirrel gained massive traction on social media, which translated into significant interest in the token. Its unique branding and emotional appeal resonated with a broad audience.
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High-Profile Endorsements
PNUT’s rise was further catalyzed by endorsements from influential figures like Elon Musk, who referenced Peanut the Squirrel on social platforms. Such mentions often lead to increased investor confidence and market buzz.
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Major Exchange Listings
Listing on prominent exchanges like Binance added to the token’s liquidity and accessibility, significantly boosting trading volumes and market capitalization.
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Community Engagement
The PNUT token’s community-driven ethos played a vital role in its adoption. Active social media campaigns and consistent updates kept the community engaged, contributing to the token’s remarkable performance.
3- What's Next for PNUT: A BULL or BEAR Trend Ahead?
As PNUT continues to trend among the best-performing tokens, its future looks promising. The token’s success story underscores the growing importance of community engagement and branding in the crypto space. However, potential investors should remain cautious, given the inherent volatility of meme-based tokens.