As an analyst with years of experience observing the intricate dynamics of the cryptocurrency market, I can’t help but find myself in a state of both amusement and intrigue when it comes to the recent surge of the Pnut token. The market cap soaring to $125 million, all thanks to a social media post by Elon Musk, is a testament to the power of influence in this digital age.
For a brief period, the total value of the Pnut token – which is based on squirrels – soared up to an astounding $125 million following a social media announcement made by Elon Musk, CEO of Tesla, as indicated by data provided by DEXscreener.
The meme coin was inspired by a viral news strory about New York officials confiscating and euthanizing Peanut the Squirrel, a pet squirrel with a significnat socia media following.
Mark and Daniela Longo, the proprietors of a cherished squirrel, gained widespread attention due to an emotional TikTok post where they expressed sadness over local officials seizing their treasured pet.
The tale has garnered considerable attention on social media platforms, leading to a notable wave of public criticism (particularly from conservative groups).
Musk humorously referred to Obi-Wan Kenobi, a well-known character from Star Wars, in relation to the topic at hand. He playfully called him “Obi PNut Kenobi.” An image of an adorable squirrel dressed as a Jedi, created by AI, was included alongside this quote.
Should you attempt to defeat me, I’ll grow stronger than you can currently fathom.” (A simplified version of Obi-Wan Kenobi’s quote from Star Wars)
— Elon Musk (@elonmusk) November 2, 2024
New Yorkers are required to obtain a specific permit if they want to own a wild animal.
The squirrel was confiscated due to public health concerns since they can potentially transmit rabies (even though such cases tend to be very rare).
Enthusiasts of opportunistic meme coins, sensing a chance, are leveraging the latest trending tale surrounding the Pnut meme coin.
As per information from the crypto analytics company Lookonchain, it’s been reported that a substantial investor (often referred to as a ‘whale’) has just bought approximately 8.99 million Pnut tokens at an expense of around $831,000.
At press time, the token is valued at $90.5 million after giving up some Musk-driven gains.
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2024-11-03 10:55