Author: Deng Tong, Golden Finance
At around 9:00 on November 14, the market showed that PNUT (Peanut the Squirrel) briefly exceeded US$2.5 and reported at US$2.4158, continuing to hit a record high, with a 24-hour increase of 422.3%.
This isn’t the first time PNUT has turned heads with a rally. At around 20:00 on November 13, PNUT briefly exceeded US$1.5 and reported at US$1.515, with a 24-hour increase of 247.41%; on November 11, affected by the launch of Peanut the Squirrel (PNUT) on Binance, PNUT briefly touched US$0.28, within 1 hour. An increase of 141.15%.
But the story of the squirrel goes far beyond that. In addition to the rise and fall of Meme coins, this squirrel is associated with too many labels - the US election, Trump, Musk, euthanasia... More stories will come from the United States Let’s talk about it before the election.
Past life: Internet celebrity squirrel causes political drama during election campaign
The story of this little squirrel dates back to seven years ago when Mark Longo rescued the squirrel after he saw Peanut's mother get hit by a car. Due to his injuries, Longo didn't think Peanut would survive in the wild. So Peanut nursed it back to health and became its caregiver.
Owner Longo often shares his daily life on Instagram. Not only did Mark use these videos to attract fans, he also founded an animal rescue organization in the name of Peanut to raise money for animals in need.
But on October 30, after receiving an anonymous tip, the New York State Department of Environmental Protection (DEC) took Peanut away and detained him. Longo told the media: "They treated me like a terrorist, and the whole raid was like a drug bust. My house was turned into a mess, my wife was even asked about my immigration status, and when I went to the bathroom, I was escorted by police to check the toilet. Are there any hidden items behind?
Mark started a petition calling for the release of the squirrel he had shared with him for seven years, attracting the attention of a large number of supporters.
Then, on November 2, news broke that Peanut had been euthanized, sparking outrage online. "This is a terrible nightmare for me," Longo said on social media. Community members condemned DEC's violent law enforcement and compared the incident to the "Black Lives Matter" movement in 2020, proposing the slogan "Rat life is precious." The DEC director was mocked as "Karen" for his tough attitude, and the Democratic administration became the focus of public opinion. Countless voters accused the government of "the government has the resources to kill a squirrel, but it can't repair the bridge on the street?"
Musk also joined the mourning event and posted multiple tweets in support of Peanut.
It was already the intense stage of the US election. On November 4, Musk pinned a tweet on the X social platform and said, "For PNut!, for freedom, vote." Data shows that Peanut currently has a market value of $53.97 million.
Because New York's EPA is under Democratic control, many have decried abuse of power by the authority. The Trump campaign also took this opportunity to speak out many times:
Trump said: If the squirrel came from Mexico, the government would give it a hotel and a shopping card. What the Democratic Party government does to the little squirrel is a waste of resources.
Trump's eldest son, Trump Jr., said: Peanut's death should catalyze real change and use votes to kick out the current government.
On November 3, Vance told a rally in North Carolina that Trump was "furious" about the squirrel's death and said Peanut's death called into question the government's priorities. "It's crazy that the government doesn't care about the thousands of illegal immigrant criminals entering our country and doesn't want us to have pets."
The Democratic Party's outrageous actions and Trump's statement have obviously aroused people's election emotions, and some people even called on social media to vote for Trump and avenge Peanut.
At this point, Peanut represents a spirit of resistance that yearns for freedom and democracy. The fate of this little squirrel has been tied to the US election, becoming another dimension for the Trump team to attack the Harris team.
This life: PNUT creates sky-high wealth
The U.S. election has ended, but the story of this little squirrel continues. In the crypto world, this little squirrel is transformed into the Meme coin PNUT, which is sought after by people and sets off the most enthusiastic Meme coin trend.
As mentioned at the beginning of this article, PNUT has skyrocketed in recent days. According to Coingecko data, the price of PNUT reached a recent peak at around 9:00 today at $2.27, with a 24-hour trading volume of $5.501 billion.
PNUT is a meme coin launched on the Solana blockchain. The story behind it is regrettable and has resonated on social media. Coupled with the continued calls from Musk, Trump and other big names on the list, the crypto whales first smelled the profit opportunities of PNUT:
On November 5, according to Lookonchain monitoring, a certain whale spent 13,642 SOL (US$2.22 million) to purchase Pnut, FRED and OPK in the past three days, and currently has a floating loss of US$1.44 million. Among them, 7,142 SOLs ($1.16 million) were spent to purchase 14.46 million Pnuts, which now shows a loss of $553,400 (-48%);
On November 6, according to ai_9684xtpa monitoring, as Pnut violently rebounded 127% in the past 24 hours, the mysterious whale who once spent 11,600 SOL to heavily position Pnut, FRED, and OPK saw its floating loss narrowed from US$1.48 million to US$183,000. Close to return on investment;
On the same day, a trader created a new wallet and spent 15,132 SOL ($2.8 million) to buy Pnut and FRED in the past 2 hours. Spend 11,582 SOL ($2.14 million) to buy 17.35 million Pnut at a price of $0.12;
On November 10, according to Solscan data, the address starting with js5Lja has accumulated approximately 28.83 million Pnuts (worth over US$2.4 million) in the past 6 days, becoming the largest holder.
On November 11, there was still news of whale buying. Subsequently, exchanges such as Binance and OKX listed PNUT. The market trend of Meme currency PNUT gradually became crazy, with a daily increase of three digits. It is not surprising.
Based on US$0.128 before the market took off on November 11, the highest point as of around 9:00 this morning was US$2.27. In just 4 days, PNUT has soared by 1673%.
So, why has PNUT surged recently?
First of all, against the backdrop of Trump’s victory, the overall crypto market has moved higher. The former president’s friendly attitude toward cryptocurrencies, which is about to return to the White House, has excited crypto investors. Musk, who has been calling Dogecoin for a long time, will take office in the "Department of Government Efficiency" during the Trump administration. The abbreviation of "Department of Government Efficiency" has the same name as the abbreviation of Dogecoin DOGE. Dogecoin is the first Meme coin. A new market cycle has ushered in, and it is reasonable for PNUT, which has been supported by Musk, to skyrocket.
On November 13th, Musk directly ordered PNUT: "A squirrel and a Meme coin saved the United States!" Driven by Musk, Trump's eldest brother, PNUT soared into the sky.
Secondly, PNUT’s recent surge is related to the overall market of Meme. In this crypto bull market cycle, the most outstanding performers are Bitcoin and the Meme sector. The Meme sector overall rose 11.90%, according to SoSoValue data. In addition, the performance of the Trump theme concept sector was highlighted, with an increase of 189.05%. Among them, Peanut the Trump (PNUT) performed eye-catchingly, with a 24-hour increase of 324.49%, and a trading volume of more than 6 billion US dollars. In terms of overall market trading volume, the Meme project continues to attract significant liquidity. Among the top 10 coins by trading volume in the crypto market (excluding stablecoins) in the past 24 hours, there are as many as 6 meme coins, namely DOGE, SHIB, PEPE, WIF, BONK and PNUT.
Memecoin’s impact goes far beyond just attracting crypto enthusiasts – they have become the most powerful gateway to introduce crypto to newbies. PNUT's repeated highs once again demonstrate the unique charm of Meme coins - they deliberately break away from traditional cryptocurrency narrative games, instead embrace the basic value of community and entertainment, and express the aspirations of ordinary people in an atmosphere of freedom.
Summarize
From an Internet celebrity squirrel living a happy life to a political figure supported by influential figures such as Musk and Trump, to creating a billion-dollar Meme coin, the fate of this little squirrel may have changed from the one that was rescued 7 years ago. It's destined to be different in an instant.
Peanut may be a victim of the US election, but it has inspired people's spirit of struggle and expressed ordinary people's yearning for freedom and fraternity. In the future, PNUT may continue to replace Peanut in the cryptocurrency world forever. I hope that people will occasionally remember this tree elf who once stayed in the world while enjoying the joy of gaining wealth.
(The above content is excerpted and reprinted with the authorization of our partner PANews, original text link | Source: Golden Finance)
Statement: The article only represents the author's personal views and opinions, and does not represent the objective views and positions of the blockchain. All contents and opinions are for reference only and do not constitute investment advice. Investors should make their own decisions and transactions, and the author and Blockchain Client will not be held responsible for any direct or indirect losses caused by investors' transactions.
"A squirrel and a Meme coin save the United States? Let's review Peanut's past and present lives." This article was first published on (Block Guest).
