The Story Behind $Pnut
Origins: In 2017, Mark Longo rescued a squirrel named Pnut, who quickly became a social media favorite. Tragically, in late October, New York’s DEC euthanized Pnut for rabies testing, sparking widespread outrage. Congressman Nick Langworthy and social media personalities criticized DEC’s actions, giving the story a socio-political dimension.
Memecoin Inspiration: Following the controversy, $Pnut was created as a memecoin, much like $Harambe. It quickly gained popularity, especially after influencers like Elon Musk and the Dogecoin community amplified it on social media. Musk’s posts boosted $Pnut’s visibility, pushing its market cap over $8 million by November 1.
Tokenomics and Whale Activity
Developer’s Exit: The original $Pnut developer initially funded the token with a modest 2 SOL but later liquidated their holdings, profiting around $73,000. This, along with other associated wallets selling out, raised some questions about the project’s long-term intentions.
Whale Investments: Recently, a whale invested 9,600 SOL ($1.56 million) in both $Pnut and $FRED (a related token named after another of Mark Longo’s pets). This investment, along with $Pnut’s decentralized token distribution, has helped support its market value amid high social media attention.
Summary
$Pnut’s journey from a viral story to a high-value memecoin has been driven by social media and political relevance, with the potential for continued attention as public figures weigh in. However, early sell-offs by the developer suggest cautious optimism. $Pnut’s future may hinge on sustained interest and political commentary.

Developer Wallets:
6H6gtwnKzTs6ttz9Ks1bQeqA3okPuSo3AsbdUGepWLRK
6Tywitb3HtTYqP8UkCHm8CUVLHwRufS4j2gYraYZnr1v
HrHJputHcA8mkwrcQB3GkrJ2u1f7Fm4LzAZptSYSsUcf

#PNUT #pnut