Here’s How Peanut the Squirrel (PNUT) Reached $1.9 Billion Market Cap in Weeks

The post Here’s How Peanut the Squirrel (PNUT) Reached $1.9 Billion Market Cap in Weeks appeared first on Coinpedia Fintech News

A tragic story turned into a crypto revolution—Peanut the Squirrel, a beloved pet and online sensation, became the face of a meme coin that skyrocketed to a market cap of $1.9 billion. The PNUT token, launched in early November 2024, has captured hearts and wallets alike, showcasing the power of community, and the crypto market.

The Viral Story of Peanut

Peanut was not just a pet—it became a symbol of justice. However, her tragic death, which many called “murder,” turned the internet upside down and even shook the crypto markets. After its sudden death, social media erupted with the hashtag #JusticeForPeanut. 

Things took an even bigger turn when high-profile figures like Elon Musk and Donald Trump voiced their support for the cause, turning the incident into a national debate right before the U.S. elections.

The outrage and emotional response from the public led to the creation of PNUT, a token launched in Peanut’s memory. The coin took off after being listed on the HTX exchange on November 12. 

In just 48 hours, trading volume skyrocketed to over $230 million, and the price surged more than 2,900%, hitting a high of $1.91. However, its market value soared to $1.9 billion, placing it among the top 60 cryptocurrencies.

PNUT’s Rapid Rise

PNUT launched in early November 2024 on the Solana blockchain and saw massive growth in just a few weeks. It was listed on major crypto exchanges like HTX, Bitgert, OKX, and Bybit. 

What’s more interesting is the backing PNUT has received from large whales. One whale alone holds a massive 27 million tokens, worth around $51 million. 

Adding to the excitement, Elon Musk’s tweets have famously shaken crypto markets, and PNUT was no exception. Musk’s support brought even more attention to the coin, similar to the impact he had on Dogecoin. 

Tribute to Peanut’s Legacy

Peanut’s story is more than just a tragedy—it’s a testament to how even small lives can inspire big change. The crypto world has turned his memory into a movement, blending finance, culture, and innovation.