Peanut the Squirrel Controversy: Lawsuit Threats, JUSTICE Token Launch, and More

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As a researcher with extensive experience in the intersection of technology, social media, and crypto, I find myself deeply moved by the Peanut the Squirrel controversy. Having witnessed similar instances before, I can’t help but empathize with Mark Longo, who lost his beloved pet and had his grief exploited for profit.

In response to the escalating interest in meme-based cryptocurrencies, individuals are creating crypto tokens based on popular internet trends. One example is PNUT, inspired by an internet sensation called Peanut the Squirrel. Unfortunately, Peanut, who was a beloved pet, was euthanized due to concerns about rabies by the New York State Department of Environmental Conservation. This sad event left Mark Longo, the owner, and the online community mourning before someone decided to create the token, which gained immense popularity but has since sparked a significant debate over Peanut the Squirrel.

What is Peanut the Squirrel Controversy?

The debate over Squirrel started after certain individuals reported the matter to wildlife preservation officials, resulting in the confiscation of Peanut and Mark’s raccoon pet, Fred, on November 1. Unfortunately, Fred was put down. Heartbroken, the owner spread the word via his social media account @Squirrel_Dad12, which subsequently gained attention, with millions expressing sympathy. Even Elon Musk spoke out in support of Peanut, causing its value to skyrocket by 200%.

Subsequently, an unidentified individual launched a meme-based token on Solana named Peanut the Squirrel (PNUT). This digital asset quickly gained traction in the cryptocurrency market, soaring on graphs and reaching a peak value of $2.47 approximately two weeks back. However, Mark Longo expressed discontentment towards the crypto community for profiting from what he perceived as his misfortune. Consequently, he announced potential legal action against the token holders due to copyright infringement allegations.

It’s worth noting that this isn’t an isolated instance of individuals facing threats for using personal images in the creation of memecoins. Previously, even the Chillguy meme creator threatened the holder of a CHILLGUY-themed token based on his likeness when people created such a token.

PNUT Community Donated $50,000 to Mark Longo

Longo is a construction engineer who not only builds structures but also cares for injured animals at a sanctuary he manages. Following the loss of his beloved pet, Peanut, Longo established P’Nuts Freedom Farm Animal Sanctuary as a tribute to their bond.

As a part of the PNUT community, I was proud to contribute approximately $50,000 towards the launch of Freedom Farm, demonstrating our collective support for such an inspiring cause. However, our efforts to incorporate Longo into our expanding community were unfortunately hindered by the Peanut the Squirrel controversy.

Over time, events surrounding Peanut the Squirrel had an impact on the token’s price, with it currently being priced at $1.13 and showing a significant downward trend. The market cap and trading volume have both decreased to approximately $1.13 billion and 1.27 billion respectively. Yet, its overall performance remains commendable.

JUSTICE Token Escalated The Peanut The Squirrel Controversy

The PNUT community’s $50,000 contribution to Freedom Farm was an effort to aid in Longo’s justice appeal. Unfortunately, Longo had previously cashed out all his tokens, which has sparked criticism. What’s more, Longo has recently introduced the JUSTICE token, suspected to be funded from those very tokens, adding fuel to the Peanut the Squirrel controversy.

Exposing the greed of Mark Longo aka @Squirrel_Dad12

@OGpeanut_sol directly communicated with Mark Longo to make a donation to his Freedom Farm.

The community contributed $50,000 worth of USDT in $PEANUT tokens to aid Mark’s family and their cause.

This greedy, unethical,…

— STILL K.A.P.O (@KAPOTHEGOAT01) November 25, 2024

In his declaration, Longo asserted, “Right now, I’m claiming ownership of this movement, deciding who can be part of it. From hereon, my narrative and this movement will undeniably belong to me.

Remarkably, just following its debut, the JUSTICE token swiftly garnered attention in the industry. During its first 24 hours, its price skyrocketed nearly 50,000%. Yet, it has since experienced a downturn, and at present, it’s trading at $0.05683 with a market capitalization of $54.8 million according to DEXSCREENER.

Through this action, it’s evident that Longo intends to carry on his personal struggle and has chosen to disassociate from the Pnut community. Nevertheless, there remains a sense of disappointment among people regarding his choice. Many argue that he should have declined the donation initially, considering his intention to stay aloof from the community.

As a crypto investor, I’ve learned from Bubblemaps that there’s a potential issue with the JUSTICE token. It seems that around 80% of its supply might be in the hands of organized groups, which could potentially manipulate the market.

Experts suggest that this situation appears organized, with clear indications that a single individual or a tight-knit group is managing these wallets. Some theorize whether the owner of Peanut is employing JUSTICE as a form of vengeance or simply for financial gain. Given the significant risks involved, it’s crucial not to overlook this scenario.

Final Thoughts

Peanut the popular squirrel sadly passed away after biting an official, causing a wave of sympathy across the internet with over half a million people connected. In response, Mark Longo created a memecoin in Peanut’s memory, which quickly gained traction within the crypto industry. However, when others began to profit from Longo’s grief, it sparked controversy and prompted him to threaten legal action. Consequently, he established JUSTICE as a way to distance himself from the Pnut community.

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2024-11-26 16:50