PNUT Coin Project Introduction

PNUT Coin is a Meme coin based on the Solana blockchain, inspired by the controversial incident of a viral squirrel named Peanut. This beloved pet squirrel was euthanized by the New York State Department of Environmental Conservation under the pretext of rabies testing, sparking widespread attention and strong reactions on social media. It became a symbol of public discontent with government overreach, even escalating into a social media storm on the eve of the U.S. presidential election. Leveraging this sentiment, PNUT quickly rose to prominence as a representative of Meme culture, becoming the focus of market attention.

The popularity of PNUT is not just a short-term speculative frenzy, but a typical case of the high integration of social networks, political public opinion, and the encryption market. It achieved viral spread in a short period of time through strong emotional resonance, reflecting the irrational bubble and high speculation of the encryption market. It also confirms that in the Web3 era, any social or political event could become the catalyst for the financial game of the encryption market.

The image of the PNUT Coin project is a viral squirrel

Project Link:

• Official Website Entrance:https://pnutsol.com/
• Donation link:https://www.change.org/p/call-for-justice-for-peanut-the-squirrel-and-nysdec-reform
• X (Twitter):https://x.com/pnutsolana
• Telegram:https://t.me/pnutportal
• Dexscreener:https://dexscreener.com/solana/4azrpnefcj7iw28rju5auyeqhycvdcnm8cswyl51ay9i
• Solscan:https://solscan.io/token/2qEHjDLDLbuBgRYvsxhc5D6uDWAivNFZGan56P1tpump
• Trading Entrance:https://www.gate.io/en/trade/PNUT_USDT

$PNUT Token Information

Token Name: Peanut the Squirrel (Pnut)

Release time: October 31, 2024

Total Supply: 1,000,000,000 coins

Token Type: SPL

Contract Address: 2qEHjDLDLbuBgRYvsxhc5D6uDWAivNFZGan56P1tpump

$PNUT on-chain information (Image source:Peanut the Squirrel (Pnut ) | Solscan)

$PNUT Latest News

Recently, PNUT Coin’s price has once again strengthened, with a significant increase in market attention. One of the reasons is that PNut’s owner Mark Longo, after losing his famous squirrel four months ago, welcomed a new pet member, a mini dachshund named Howard. In an interview, Longo admitted that he believes Howard ‘might be’ the reincarnation of PNUT and shared the heartwarming story of this new pet, stating that Howard’s lively behavior reminds him of the former PNUT. This emotional resonance quickly spread throughout the community, further boosting the market enthusiasm for PNUT Coin.

PNUT’s owner recently adopted a new pet, driving market attention back up (Image source: https://x.com/Kris7146/status/1898360167680684155)

The continuation of this narrative has made PNUT holders and supporters see it as a symbol of emotion and belief, further solidifying PNUT’s unique influence as a social and cultural phenomenon. Mark Longo and his wife Daniela Bittner also expressed, “Although we were hesitant at first to welcome a new pet member, as past experiences left me full of uncertainty. For us and our family, this is an emotional moment.”

$PNUT market performance

From March 7th to 9th, the price of $PNUT continued to fluctuate downward, and most of the K-line time was in the red, indicating significant selling pressure in the market. Starting from the 10th, the coin price experienced a brief rebound, showing some buying interest, but the trading volume remained relatively low. As of the 11th, the $PNUT price entered a sideways oscillation range, with several attempts to move upward, but each rebound encountered selling pressure, indicating a cautious market sentiment. On the evening of the 13th, a long positive line appeared in the K-line, possibly indicating that the bulls are starting to take control of the market, leading to a slight increase in the market activity of the coin.

As of March 14, when this article was written, the latest price of $PNUT was $0.1722, with a total circulating market value of $174 million. The current market sentiment is still in the recovery stage, and investors should pay attention to changes in trading volume and the market’s reaction to subsequent hot events to judge future price trends.

During 03/07 - 03/14, the trend of $PNUT (Chart Source: https://dexscreener.com/solana/4azrpnef）

$PNUT Risk Warning

The value of the PNUT token largely depends on the market hype surrounding the Peanut event. Once market interest shifts, its price may experience significant volatility or even a sharp decline. Additionally, as a community-driven meme token, PNUT, like many emerging tokens, is primarily influenced by speculative trading rather than stable fundamental value. This makes it susceptible to insufficient trading depth and even the risk of liquidity depletion. Investors should thoroughly assess their risk tolerance before trading and adopt appropriate risk management strategies to navigate market uncertainties.

Conclusion

The rapid rise of PNUT Coin fully embodies the emotional-driven nature of the cryptocurrency market. The token quickly gained popularity with hot events and demonstrated strong social dissemination effects in the market. However, its future trend still highly depends on public attention, which means that prices may experience drastic fluctuations and even face significant market uncertainty. Therefore, investors should reasonably allocate assets and be wary of market manipulation and liquidity risks when participating in the trading of such Meme tokens. Whether it is short-term speculation or long-term holding, it is necessary to fully understand the high volatility and irrational factors in the Meme coin market, follow the market trends closely, and avoid blindly chasing high prices to reduce potential risks.