PNUT, a meme coin inspired by Peanut the Squirrel, surged 200% after Elon Musk latest post referenced a “squirrel and a meme coin” saving America. The playful mention quickly gained traction on social media, leading to a massive rally for the Solana-based token.
With its connection to Musk humorous posts, PNUT has become the latest trending meme coin. The Solana-based token trading volume soared to over $2 billion within 24 hours as investors and crypto enthusiasts jumped in on the hype.
Peanut the Squirrel Gains Traction Following Elon Musk Tweet
In a recent X post, Elon Musk made a humorous comment stating, “America was saved by a squirrel and a meme coin!”. Musk’s engagement with this meme has sent ripples through the crypto market, resulting in an immediate price surge for PNUT.
Besides, the billionaire’s comment came shortly after he shared an image of PNUT in response to a post from Rabbit Hole, which sparked controversy by questioning the government’s expenditure on HIV research involving transgender monkeys.
— Elon Musk (@elonmusk) November 13, 2024
This X post follows Musk’s long-standing history of engaging with meme coins, often sparking rapid price increases in coins like Dogecoin and Shiba Inu. The crypto market response to Musk’s comment highlights his continuing influence over digital assets with the meme-based appeal, propelling PNUT into the spotlight.
PNUT Coin Rise and the Growing Popularity of Solana Meme Coins
PNUT, a meme coin on the Solana blockchain, is currently trading at $1.33, up by 220% in the last 24 hours. Over the past week, it has surged 1140%, and its price has increased 2400% over the past 30 days. The coin’s 24-hour trading range has spanned from a low of $0.3943 to a high of $1.47, with a trading volume reaching $2.72 billion, as traders seize on the rally.
The popularity of top Solana meme coins is on the rise, with ACT price seeing a 2,700% increase over the past week, and Bonk up by 50%, trading at $0.00003. The current meme coin boom on Solana has investors speculating on whether tokens like BONK will continue to climb, with some enthusiasts wondering if it might hit $0.1 in the near future.
Coingape Staff
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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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