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PNUT, a Solana-based meme coin inspired by “Peanut the Squirrel”, surged 300% to $1.70, driven by a tweet from Elon Musk.
Key Notes
The recent surge in PNUT price brought its market cap past $170 million, just days after its launch.The trading volume for PNUT skyrocketed to over $2 billion within 24 hours, as Musk’s tweet sparked a wave of investor interest.The recent surge in PNUT and other Solana meme coins, including ACT’s 2,700% gain and BONK’s 50% rise, has fueled speculation about a potential rally in the sector.PNUT PNUT $1.56 24h volatility: 232.2% Market cap: $1.56 B Vol. 24h: $3.98 B , a popular meme coin named after Peanut the Squirrel, has gained a staggering 300% in the last few hours following a recent post made by Elon Musk. Earlier today, the tech billionaire tweeted a ‘Peanut” emoji highlighting how the controversy surrounding the squirrel influenced the voting pattern in America this election.
— Elon Musk (@elonmusk) November 13, 2024
As a result, the PNUT price is trading 300% up at $1.70 with its market cap soaring past $1.70 billion. This is a phenomenal achievement considering that the meme coin was launched just a week ago, a day before the election results.
PNUT, the latest trending meme coin linked to Musk’s humorous posts, has seen its trading volume surge to over $2 billion in just 24 hours. The Solana-based token attracted a flood of investors and crypto enthusiasts eager to join the hype.
In one of his replies on the X platform, Elon Musk also made a casual comment:
“America was saved by a squirrel and a meme coin!”
Well, this comment was enough to send the meme coin PNUT skyrocketing upwards thereby hitting fresh highs.
America was saved by a squirrel and a meme coin!
— Elon Musk (@elonmusk) November 13, 2024
This post on X continues Musk’s long-standing trend of engaging with meme coins, frequently triggering sharp price surges in assets like Dogecoin and Shiba Inu. The market’s reaction to Musk’s comment underscores his enduring impact on meme-based digital assets, bringing PNUT squarely into the spotlight.
Can PNUT Trigger the Next Rally among Solana Meme Coins?
Following the Donald Trump victory, the meme coin sector led by Dogecoin DOGE $0.43 24h volatility: 13.6% Market cap: $61.93 B Vol. 24h: $34.20 B has seen massive gains over the past week. Also, with Elon Musk recently being appointed to the Department of Government Efficiency (D.O.G.E), everyone is eyeing the next big move in this sector.
Elon Musk has been an ardent supporter of meme coins in the past, especially Dogecoin. Now, with him teasing PNUT, it will be interesting to see any further hints coming from the tech billionaire moving ahead.
On the other hand, top Solana meme coins are gaining traction, with ACT experiencing a 2,700% surge over the past week and Bonk rising 50% to trade at $0.00003. This meme coin rally on Solana has fueled speculation among investors about whether tokens like BONK BONK $0.000039 24h volatility: 26.8% Market cap: $2.69 B Vol. 24h: $2.96 B could continue their upward trend, with some wondering if it might eventually reach $0.1.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
