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Peanut The Squirrel (PNUT) has emerged as the latest sensation in the meme coin sector, especially following its Binance spot listing on Monday.
As of press time, the PNUT coin price is up by 530% over the past week, marking the fourth-highest gains of any top 100 meme coin on CoinMarketCap in that period. It is currently trading at $0.453, with a market capitalization of $414 million.
Inspired by the Instagram-famous squirrel Peanut, the meme coin is set to be the next billion-dollar cryptocurrency.
However, sidelined investors are concerned whether it would be prudent to FOMO buy into PNUT now, considering a Binance listing typically means a local top for meme coins. A few smart money investors are already rotating their capital to low-cap meme coins like Pepe Unchained and Flockerz.
Peanut The Squirrel – The Latest Meme Coin Sensation With Donald Trump, Elon Musk Narratives
Meme coins with enormous mainstream popularity tend to deliver outsized returns without fail. Notably, Pepe’s meteoric ascent into being the third-largest meme coin was largely due to Pepe The Frog’s popularity in the internet culture.
The PNUT coin is nothing different. It is inspired by the popular squirrel Peanut, which has over 900k followers on its Instagram account, managed by digital creator Mark Longo.
The squirrel took the internet by storm when Longo revealed that it had been confiscated by the New York Department of Environmental Conservation. On November 1st, a heartbroken Longo informed social media users that Peanut had been euthanised.
Everyone from the world’s richest man Elon Musk to the US Vice President-elect JD Vance has condemned the NYDEC’s actions, with Musk even talking about the issue at length in his latest interview with Joe Rogan.
Government overreach kidnapped an orphan squirrel and executed him … https://t.co/YKoOCJWLMv
— Elon Musk (@elonmusk) November 2, 2024Considering that Peanut The Squirrel became a rallying cry for Republicans just before the election, the PNUT coin has benefitted tremendously from Donald Trump’s win.
The meme coin price is up by 530% over the past week, also spurred by its Binance spot listing.
The PNUT coin price prediction from experts indicates that the meme coin remains an excellent investment for the long term. However, the possibility of a significant pullback cannot be ignored.
PNUT Coin Price Prediction – Should Sidelined Investors Wait For A Better Entry?
Binance listings typically form a local top for meme coins. For instance, analysts have compared PNUT to Moo Deng, another meme coin inspired by a “cute animal” that was listed on Binance.
After an initial pump following its Binance Futures launch, it saw a 50% pullback.
However, Peanut The Squirrel has some distinct advantages. For instance, PNUT has secured a Binance spot listing, which is considered far more bullish than Moo Deng’s Binance Futures listing.
Moreover, PNUT has been listed on Binance in the midst of extreme bull market euphoria, a phase that experts are calling the “meme coin supercycle.” As a result, there is a possibility that it sees a rather shallow pullback.
The PNUT coin price prediction from the popular crypto trader Sajad echoes this sentiment. He expects the meme coin to see a strong bullish continuation in the coming days and face a correction only after it hits the $700 million mark.
Could $PNUT go to Billions? Here are the best dip buying opportunities and profit targets.. 
pic.twitter.com/drdOW0vC2h
(@SajadFlips) November 12, 2024
Consequently, any shallow pullback in the PNUT price may be an excellent opportunity to buy the dip.
Could New Meme Coins PEPU and FLOCK Offer Similar Returns?
The demand for low-cap new meme coins remains extremely high, especially as Binance continues to onboard them onto its spot and futures platforms.
For instance, Pepe Unchained (PEPU) has now raised over $27.2 million in its presale funding. The new frog-themed meme coin has added the latest $1 million in less than 48 hours.
Wow 27M!!!!!
The PEPU community support is incredible! Pepe has entered a complete zen state because of all the love. PEPU #1!! 
pic.twitter.com/G4A3yy1XxX
PEPU has managed to separate itself from other run-of-the-mill tokens, thanks to its native Layer-2 ecosystem, upcoming meme coin launchpad and rewarding staking protocol.
PEPU holders will soon be able to benefit from extremely low trading costs, instant transactions and new meme coin launches in the ecosystem, a proposition which has appealed to whales and retailers alike.
Unsurprisingly, smart money investors are bullish on PEPU, with many eyeing between 10x and 100x returns from it.
Similarly, whales are stacking another meme coin, Flockerz (FLOCK). Just today on Tuesday, whale purchased $53k worth of FLOCK in a single transaction.
Perhaps these deep-pocketed investors believe that FLOCK could be a candidate for Binance listing, considering that the exchange prioritizes decentralization and low FDV, areas where Flockerz excel.
Its DAO governance, vote-to-earn platform and attractive staking rewards also make it appealing.
Similar to PEPU, smart money investors are calling Flockez the next 100x crypto.
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