As a seasoned analyst with over two decades of experience navigating the volatile and often unpredictable crypto market, I’ve seen my fair share of Elon Musk-induced price surges for meme coins like Dogecoin and Shiba Inu. However, witnessing the 200% surge in PNUT, a Solana-based token inspired by Peanut the Squirrel, within hours of Musk’s latest tweet about “a squirrel and a meme coin” saving America, is nothing short of astonishing.
The digital currency PNUT, modeled after Peanut the Squirrel, experienced a 200% increase in value following Elon Musk’s recent tweet that hinted at “a squirrel and a meme coin” potentially saving America. This lighthearted comment sparked a flurry of activity on social media platforms, resulting in a significant surge for the token operating on the Solana network.
Through its association with Elon Musk’s amusing social media posts, PNUT has emerged as the latest sensation among meme cryptocurrencies. In just a day, trading volume for this Solana-backed token surpassed $2 billion as investors and crypto fans eagerly joined the excitement wave.
Peanut the Squirrel Gains Traction Following Elon Musk Tweet
In a recent X post, Elon Musk made a humorous comment stating, “America was saved by a squirrel and a meme coin!”. Musk’s engagement with this meme has sent ripples through the crypto market, resulting in an immediate price surge for PNUT.
Apart from this, the billionaire’s remark followed a post where he had previously posted an image of PNUT in reaction to a provocative comment made by Rabbit Hole regarding the government funding for HIV research using transgender monkeys, which stirred up a lot of debate.
— Elon Musk (@elonmusk) November 13, 2024
This article continues Elon Musk’s tradition of interacting with meme-based cryptocurrencies, which frequently lead to swift price surges in coins like Dogecoin and Shiba Inu. The reaction of the crypto market to Musk’s statement underscores his ongoing power over digital assets that have an appeal rooted in memes, thereby drawing attention to PNUT.
PNUT Coin Rise and the Growing Popularity of Solana Meme Coins
Meme token PNUT, based on the Solana blockchain, is presently being traded at $1.33, marking a 220% increase within the last 24 hours. Over the past week, it has skyrocketed by 1140%, and its value has risen an astounding 2400% over the previous 30 days. In the last day, its trading volume has soared to $2.72 billion as traders capitalize on the surge. The coin’s price range in the last 24 hours has varied from a low of $0.3943 to a high of $1.47.
Interest in prominent meme coins on the Solana platform is surging, as shown by a staggering 2,700% rise in ACT‘s value over the last week, and Bonk experiencing a 50% increase to trade at $0.00003. The current meme coin surge within Solana has investors pondering if tokens such as BONK will keep rising, with some optimists even contemplating whether it could reach $0.1 in the coming days.
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2024-11-13 14:17