PNUT, the memecoin launched on Solana just 3 days ago has taken over the internet by storm. At its peak PNUT moved from obscurity to $150 million trading volume before tanking mainly propelled by outrage and interest from social media.
PNUT Euthanized
The New York department of Environmental Conservation (DEC) confiscated and euthanized Peanut on October 30th. The owner, Mark Longo had been the caretaker sharing insights about Peanut and another raccoon called Fred. However, following complaints about alleged unsafe conditions, the DEC took the pets deeming the act illegal and unsafe. Longo had been the caretaker of Peanut for over 7 years. It was rescued following the death of the mother and has since been become dependent on Longo. Peanut managed to amass over 600,000 fans on social media.
Announcement about peanut on Instagram
The tip off and subsequent capture of peanut has sparked outrage and concern on social media. Even the major personalities such as Elon Musk have come to the defense of Peanut. He says the government should not be allowed to kill your pet
Peanut quickly became a political talking point amid the ongoing US presidential campaigns. Donald Trump Jr also called out the government for killing Peanut calling for the murder to be a catalyst moment and slamming the Democrats for allowing illegal immigration.
JD Vance, the running mate of Donald Trump shared in a political rally in North Carolina that peanut’s story is an example of government overreach. More republican political voices argued that the government should focus on more significant issues rather than targeting pets like peanut.
Peanut on solana
PNUT peaked at $0.14 as personalities such as Elon Musk fuelled the backlash. However, some early buyers have already begun taking profit and the coin is currently trading at$0.0052 on Gecko terminal. The 24 hour volume remains high at over $140M. The market cap sits at $52M at the time of publication.
The explosive and fast rise of PNUT token is another testament of how memecoins can quickly gain fame within a short period of time. Social media fueled sentiment can move in any direction within a short period of time.
To buy Peanut, one must have a phantom wallet and have some Solana to swap
Peanut is currently available on MEXC, coinGecko and Lbank.
You can follow PNUT updates here https://www.pnutsol.com/
