Non Cult Crypto News

Non Cult Crypto News

in

Viral squirrel ‘Peanut’ triggers Solana memecoin frenzy

Following the controversial death of Peanut the Squirrel, memecoins themed after Peanut have surged on Solana, with some hitting market caps of more than $100 million.

COINTELEGRAPH IN YOUR SOCIAL FEED

Memecoins, riding the sudden rise in popularity of “Peanut the Squirrel,” has hit the Solana decentralized finance (DeFi) markets, with some tokens even reaching a market capitalization above $120 million.  

Mark Longo, the owner of Peanut’s social media account with over 600,000, wrote that on Oct. 30, New York’s Department of Environmental Conservation confiscated and euthanized the popular squirrel and a raccoon named “Fred.” This follows complaints of alleged unsafe housing for Peanut. Longo wrote on Instagram: 

“Well internet, you WON. You took one of the most amazing animals away from me because of your selfishness. To the group of people who called DEC, there’s a special place in hell for you.”

Longo said he first rescued the squirrel about seven years ago after seeing Peanut’s mother get hit by a car. Because of an injury, Longo deemed that Peanut couldn’t survive in the wild. Because of this, Peanut nursed him back to health and became his caretaker. 

Source: Elon Musk

The event triggered outrage, with personalities like billionaire Elon Musk criticizing the government and calling it “mindless” and “heartless.” 

Related: Truth Terminal founder’s X account hacked to shill scam memecoin

Peanut-themed memecoins hit the markets

Peanut’s sudden popularity spurred memecoin creators to launch meme-based tokens based on the popular squirrel. 

Peanut the Squirrel memecoins on Solana. Source: Dexscreener

DeFi data tracker Dexscreener shows that several memecoins based on Peanut have been launched on the Solana network. In addition, two Peanut-themed memecoins have made it to the top 10 tokens in Dexscreener’s 24-hour charts. 

A token called Peanut the Squirrel (PNUT) made two days ago had a volume of almost $300 million and recorded over 200,000 transactions. The token currently has a market capitalization of $100 million, peaking at $120 million before experiencing a correction. 

A similar memecoin also hit the BNB Smart Chain and hit a market cap of $80 million while recording a volume above $110 million. 

Meanwhile, a Fred-themed memecoin, based on the raccoon euthanized with Peanut, also hit the Solana memecoin markets. A token called First Convicted Raccoon (FRED) recorded almost 150,000 transactions and a trading volume of $83 million. Despite this, the project only has a market capitalization of $8.2 million. 

Magazine: The rise of Mert Mumtaz: ‘I probably FUD Solana the most out of anybody’

This article first appeared at Cointelegraph.com News

What do you think?

Written by Outside Source

BTC, EIGEN, KAS: Top cryptocurrencies to watch this week

Companies without a crypto wallet will be left behind

Back to Top

Ad Blocker Detected!

We've detected an Ad Blocker on your system. Please consider disabling it for Non Cult Crypto News.

How to disable? Refresh

Log In

Or with username:

Forgot password?

Don't have an account? Register

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

To use social login you have to agree with the storage and handling of your data by this website.

Add to Collection

No Collections

Here you'll find all collections you've created before.