Peanut the Squirrel: Why the PNUT token is conquering the market

No cryptocurrency is currently growing as massively on the market as the memecoin Peanut the Squirrel (PNUT) . A mixture of tragedy and politics has resulted in a price gain of 3,500 percent in 14 days. Why the new token is currently outshining all other cryptocurrencies.

Peanut the Squirrel: Why the PNUT token is conquering the market

On November 4th, a new token appeared on CoinMarketCap. Its name: Peanut the Squirrel (PNUT). Over the last few days, the token has gained massive momentum. At the time of writing, the project is among the 100 largest cryptocurrencies and ranks 56th with a market capitalization of 1.9 billion US dollars.

This is a remarkable achievement for PNUT. The token was only founded on October 31st . In just 14 days, it has since risen to become the seventh largest memecoin.

Particularly noteworthy: PNUT is up 1,400 percent in the weekly trend. This means that the token of the SPL standard clearly outshines all major cryptocurrencies. It is once again a memecoin. PNUT therefore has no real significance.

Nevertheless, the token can rely on huge support. It was able to gain enormous popularity due to the political situation and a tragic story from the USA.

Peanut the Squirrel was a real creature that lived in the United States until October 30, 2024. It was then euthanized by U.S. authorities along with a raccoon named Fred.

In the United States, the incident received widespread attention and caused an outcry that opened a deep divide between the country’s two major parties. We remember that on November 5, the decisive elections took place that led to a change of government.

The Republicans used the story of Peanut and Fred as an opposition to formulate further criticism of the incumbent Democratic Party government.

Peanut and Fred lived as orphans with their owner Mark Longo before they were confiscated and killed by authorities. Longo had taken the orphans in care.

Trump on Peanut the Squirrel: What Really Happened?

Trump’s party colleague JD Vance announced in a speech on November 4 that he had spoken to Donald Trump about Peanut the Squirrel. The newly elected president was very angry about the incident and could hardly believe it at first, explained Vance.

Subsequently, fake press releases circulated claiming that Trump was making a public statement of solidarity with Peanut and Fred. This message turned out to be fake.

This fake press release is circulating on the Internet.

However, this could not stop the market. Peanut has grown into a symbol of the political situation in the USA. The token of the same name has benefited massively from this development.

To this day, new memes showing Trump and Peanut in pictures are constantly appearing on the Internet. Sometimes Fred can also be seen in them. The photomontages and AI-generated images often receive a lot of attention and are clicked millions of times.

https://twitter.com/seanmdav/status/1854021189150085519

A much-noticed photomontage glorifies Trump and Peanut as national figures of the USA.

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