Investor’s traction towards meme coins has led to the rise of new meme coins in the crypto market. Inspired by internet memes and cartoon characters meme coins have carved their own path in a short time. Peanut the Squirrel (PNUT) is one such token that has gained large hype among meme enthusiasts. Inspired by a real-life story of a rescued squirrel, PNUT has created a huge sensation in the meme coin market.
Key Takeaways
- Peanut the Squirrel (PNUT) is a meme coin inspired by a squirrel named Peanut, who got killed by the New York State Department of Environment Conservation officials claiming the possibility of rabies.
- The coin intends to honor the memory of the squirrel and capitalize on its online communities’s weakness towards it.
- The Squirrel had a strong fan base on social media platforms with around 600,000 followers, which contributed to the popularity of the PNUT meme coin.
Peanut the Squirrel (PNUT)
Peanut the Squirrel is a meme coin created in memory of a squirrel named Peanut, who was an internet sensation once. The token operates on the Solana blockchain and encourages community engagement. Launched in November 2024, the token is known for its enhanced transaction speed and reduced gas fees.
PNUT Market Value
The coin is traded at $0.6851 at the time of writing. It has a market cap of $687.45 million and a market volume of $338.87 million. The meme token has a total supply of 999.85 million and all are in circulation.
The Story Behind the Peanut the Squirrel (PNUT) Crypto
As already mentioned, the PNUT token was created in memory of a squirrel named Peanut, who was rescued from a car accident. The rescuer kept the squirrel as a pet due to an unsuccessful attempt to release him into the wild. The squirrel gained huge attention on social media platforms through videos and images showing him engaging in different human-like activities. It has a fanbase of around 6 lakh followers on Instagram.
In October 2024, the Peanut was seized along with a raccoon, another pet of the owner, by the New York State Department of Environmental Conversation (NYSDEC) claiming the illegal side of keeping wild animals as pets. The Peanut was reported biting an official from the investigation team and was then tested for rabies.
The squirrel was put down due to anticipated concerns of rabies by the NYSDEC. This act created widespread outrage over the internet when the owner shared the incident through his social media account. Many famous personalities like Elon Musk and Donald Trump joined the conversation, calling the incident a government overreach.
This, in turn, resulted in the rise of the meme coin ‘Peanut the Squirrel’, gaining huge traction quickly. Within 24 hours of the launch, the market cap had shot up to $140 million.
Peanut the Squirrel (PNUT) How to Buy?
Buying Peanut the Squirrel is easy and involves only a few steps.
1. Create an Account on a Reliable Crypto Exchange Platform
A user has to fill in the necessary information and follow the preceding instructions to create the account.
2. Verify The Account
After creating an account, a user has to verify it to avail of all the features of the platform, including enabling transactions. Verification includes identity verification, submit any identity proof for this process.
3. Deposit Funds into The Account
A user has to fund the account to purchase PNUT tokens. Choose a payment method such as bank transfer, credit or debit card, etc. After choosing the payment method, enter the amount you intend to deposit and follow the instructions to fund the account.
4. Purchase PNUT Tokens
Once the funds are deposited into your account, you can purchase PNUT tokens. Search the PNUT token in the search tab, select the ‘buy’ option, and enter the amount of token you wish to purchase. Review the details entered and press confirm to buy the token. The tokens get transferred to your account after processing.
5. Store the PNUT Tokens
Once the PNUT tokens are transferred to your exchange wallet account, you can store them securely in the platform or transfer them to your personal wallet for additional security.
Best Crypto Exchanges to Buy Peanut the Squirrel (PNUT)
Crypto exchanges are platforms that facilitate the exchange of cryptocurrencies with other digital or fiat assets. Not all crypto exchanges list Peanut the Squirrel, some of the best crypto exchanges to buy the PNUT token are listed below.
1. Binance
Binance is one of the largest and most popular crypto exchange platforms in the world, offering enhanced liquidity, low transaction fees, and quicker updates of market fluctuations. The platform supports the exchange of different cryptocurrencies, reliably and more quickly.
2. KuCoin
KuCoin is one of the best exchange platforms for buying PNUT tokens. The platform is known for its reduced transaction fees and offers the exchange of a large number of currencies, precisely 300 at the time of writing. However, residents of the United States are prohibited from availing of the service.
3. Uphold
Uphold is one of the popular crypto exchanges in the United Kingdom, supporting around 80 cryptocurrencies. The platform has listed Peanut the Squirrel and offers an easy-to-navigate desktop platform and mobile application. The platform also provides users with hassle-free trading without waiting for funds to clear the account.
Also Read: Instant Crypto Exchanges: How They Work & Why They Matter?
Final Thoughts
Peanut the Squirrel (PNUT) is a meme coin with emotional value, creating sympathy and grief from the late squirrel’s online community. The token has created a lot of hype in the meme coin market, striving against many established meme coins. However, remember meme coins are highly volatile and their value may decline sharply after people lose sympathy or get attracted by new tokens. Always analyze the risk before buying any crypto tokens.