What is Peanut the Squirrel (PNUT)?
2024-11-12
Bittime - What is Peanut the Squirrel (PNUT)? Peanut the Squirrel (PNUT) is a memecoin that gained a lot of attention in the crypto world after the tragic death of the famous internet pet, Peanut, a squirrel with a huge fan base.
What is Peanut the Squirrel (PNUT)?
The Peanut the Squirrel (PNUT) coin was launched on November 1, 2024 on the Solana (SOL) network and quickly experienced a price surge after Tesla CEO Elon Musk made a post on social media X (formerly Twitter) about Peanut's story.
Also read Memecoin AI: ACT Token Skyrockets Over 1000% After Listing
Origins and Community of Peanut the Squirrel (PNUT)
The story begins with Mark Longo's rescue of Peanut after the squirrel lost his mother in an accident. Longo takes Peanut under his wing and helps him recover from his injuries.
Over time, Peanut became an internet phenomenon with over 600,000 followers and an icon for animal protection through his non-profit organization "Peanut's Freedom Farm," which houses over 300 animals.
However, tragedy struck when on October 30, 2024, the New York Department of Environmental Conservation (DEC) confiscated Peanut on public health grounds.
Peanut was later euthanized due to concerns about potential rabies. This incident sparked a wave of public support, even inviting political debate.
Peanut’s Freedom Farm
PNUT was created in honor of Peanut the Squirrel, who was rescued and cared for by Mark Longo after his mother was hit by a car. Peanut has become an icon for animal protection through his non-profit organization "Peanut's Freedom Farm," which houses over 300 animals.
The PNUT community consists of animal protection advocates and crypto enthusiasts inspired by Peanut's story.
Also read Bonk ($BONK) Price Jumps Due to Burning Event, Can It Still Rise?
Peanut Memecoin (PNUT) Launch
A number of Solana-based memecoins, including Peanut the Squirrel (PNUT), launched soon after news of Peanut's death broke.
Shortly after Elon Musk made a post about Peanut on X, the value of the PNUT token skyrocketed from an initial market cap of around $3 million to over $140 million in less than 24 hours.
The token reached a high of $0.14 before dropping drastically to $0.04 with a market cap of around $48.6 million.
In addition to PNUT, the FRED token also appeared, which refers to Longo's pet raccoon named Fred, who was also confiscated and euthanized by New York authorities.
The FRED token briefly reached a market cap of $4.8 million, but quickly dropped to $119,420.
How to Buy Crypto on Bittime
Want to trade sell buy Bitcoins and crypto investment easily? Bittime is here to help! As an Indonesian crypto exchange officially registered with Bappebti, Bittime ensures every transaction is safe and fast.
Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!
Check the exchange rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.
Disclaimer: The views expressed belong exclusively to the author and do not reflect the views of this platform. This platform and its affiliates disclaim any responsibility for the accuracy or suitability of the information provided. It is for informational purposes only and not intended as financial or investment advice.
