- The PNUT memecoin went viral after supporters rallied around Peanut the squirrel's story.
- It now ranks among the top Solana-based coins on the Radium DEX.
A memecoin inspired by “Peanut the Squirrel” has rocketed to a market cap of over $120 million in the span of just two days.
The Solana-based token, created on November 1, began surging in trading volume after mainstream news sources and social media personalities, including Elon Musk, spread news of Peanut’s untimely demise.
Outrage grew after it was revealed that New York’s Department of Environmental Conservation confiscated and euthanised Peanut and a rescued raccoon from Peanut’s caretaker, Mark Longo.
Longo, known for running a small animal sanctuary in Pine City, New York, described the seizure as “heavy-handed” and criticised the state’s decision.
He added that the DEC showed little regard for the animals’ safety or his ongoing efforts to get Peanut certified as an educational animal.
Since the token’s launch, it has climbed to eighth place among Solana-based coins on the Radium decentralised exchange.
It is now around $40 million shy of overtaking another animal-themed memecoin based on the likeness of Moo Deng, a pygmy hippopotamus living in Thailand.
Kyle Baird is DL News’ Weekend Editor. Got a tip? Email at kbaird@dlnews.com.
