PNUT Price Rises 300% Due to Elon Musk's Tweet
2024-11-14
Bittime - PNUT price, a newly launched meme coin, suddenly jumped drastically after receiving attention from Elon Musk.
This meme coin, inspired by the character Peanut the Squirrel, has risen around 300% in just the last few hours.
The increase in PNUT prices was triggered by a tweet from Elon Musk who posted the "Peanut" emoji via Twitter.
PNUT Price Rises, PNUT Market Cap Soars
After the tweet, PNUT price rose to $2.02, with market capitalization now surpassing $1.7 billion.
This is an extraordinary achievement for a meme coin that was only launched about a week ago, exactly one day before the election results were announced.
In the last 24 hours, PNUT's trading volume reached over $2 billion, indicating huge interest from crypto investors and meme coin fans who flocked to buy this Solana-based token.
Read Also: PNUT Prices Are Rising Not Because of Trump, This is the Cause!
PNUT Price Rises, Elon Musk's Impact on Meme Coin
Elon Musk is known as a supporter of meme coins, especially Dogecoin. Musk's recent appointment as a member of the Department of Government Efficiency (D.O.G.E) further strengthens the relationship between Musk and the meme coin.
It is not surprising that the sharp increase in the price movement of PNUT thanks to his tweet has made many investors hope that Musk will provide more support for PNUT and other meme coins.
Meme coin fans are now waiting to see whether Elon Musk will give another signal that could influence the price of PNUT next.
PNUT Price Rises, Rally Wave on Solana Meme Coin
Success and rises of the price of PNUT and attracting the attention of investors, especially in the meme coin sector.
After Donald Trump's victory in the 2024 US election, meme coins such as Dogecoin experienced significant price increases, and now attention is starting to shift to Solana-based meme coins.
Apart from PNUT, several other meme coins on the Solana network also experienced price increases, such as ACT which jumped 2,700% and BONK which rose 50% to reach a price of $0.00003.
As the popularity of meme coins such as PNUT, ACT, and BONK increases on the Solana platform, many are wondering whether this will be the trigger for the next rally in the Solana meme coin sector.
Read Also: 3 Koin Elon Musk: DOGE, PNUT, dan Department of Government Efficiency (D.O.G.E)
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