- The PNUT token rallied by over 272% prior to now 24 hours.
- Binance and OKX not too long ago listed the meme coin impressed by social media star Peanut the Squirrel on their respective platforms.
PNUT Efficiency
Peanut the Squirrel (PNUT) worth skyrocketed by over 272% prior to now 24 hours from a $0.3943 low to a $1.47 excessive. Its peak this Wednesday, November 13, marked a brand new prime for the token because it began buying and selling final week earlier than the 2024 US election.
As of 10:00 AM UTC at this time, PNUT managed to take care of its worth above $1.39. This represented greater than 223% enhance in its worth in a day, 1,103% in every week, and a couple of,525% since launch.
The most recent developments got here after a 111% spike within the meme coin’s one-day buying and selling quantity because it moved 112% value of its belongings throughout DeFi pockets addresses. In the meantime, the rally brought on the market cap of the crypto asset’s 999.86 million circulating provide to $1.4 billion.
Purpose for the Value Motion
PNUT’s important development in just a bit over every week got here from its affiliation with the late social media star “Peanut the Squirrel.” The superstar squirrel died on November 1, which brought on widespread controversy concerning the US authorities’s dealing with of the state of affairs.
The token additional acquired a lift from its itemizing on main exchanges. A few days in the past, Binance authorized the spot buying and selling of the crypto asset on its platform. OKX additionally launched spot and futures buying and selling for it.
The continuing hype on PNUT, discussions surrounding Peanut the Squirrel’s unlucky demise, and the broader entry of merchants and traders to the digital asset primarily contributed to its unprecedented success. The meme coin’s hype is predicted to wane finally, both as a result of a lack of normal curiosity within the token or different crypto tasks eclipsing its highlight. Nonetheless, for now, the crypto group nonetheless believes that PNUT’s climb within the charts is just not but over.
The Peanut the Squirrel Controversy
Peanut the Squirrel, a.okay.a. P’Nut, was an jap grey squirrel Mark Longo rescued again in 2017. In line with its proprietor, he discovered the animal after its mom was run over by a automobile in New York Metropolis.
Longo mentioned he unsuccessfully sought a shelter for Peanut. Because of this, he bottle-fed the animal and later launched it into the wild. Nonetheless, the squirrel supposedly discovered its approach again to him whereas affected by a serious harm.
Longo, regardless of realizing that it’s unlawful to maintain squirrels as pets in his residence state, determined to undertake Peanut. From there, he turned the animal right into a social media sensation on Instagram, which then attracted greater than 534,000 followers earlier than its loss of life.
On October 30, the New York State Division of Environmental Conservation (NYSDEC) confiscated Peanut along with a raccoon named Fred from Longo. Days later, an official from the company claimed Peanut bit certainly one of NYSDEC’s personnel, which led to the favored squirrel’s euthanasia on November 1 to find out whether or not or not it had rabies.
Public backlash ensued within the aftermath of Peanut’s loss of life. Because of the trending subject surrounding the late social media star, even lawmakers and President-elect Donald Trump joined the fray to sentence the actions of the New York-based company that was liable for its loss of life.