Peanut the Squirrel (PNUT) is a memecoin launched on the Solana blockchain, which exploded in popularity following a tragic event. In a few days, this token reached a capitalization of more than $1.5 billion, supported by public figures like Elon Musk and Donald Trump. Find out why the PNUT meme coin is captivating the crypto community.
What is Peanut the Squirrel (PNUT)?
PNUT is a meme corner created following a story that shook social networks. It all started with Peanut, a squirrel saved by Mark Longo in 2017. Over the years, Peanut has become a real star of social networks, gathering more than 500,000 subscribers on different platforms.
Peanut and Mark Longo
The story took a dramatic turn when the New York Department of Environmental Conservation (NYSDEC) raided Longo's home. Under the pretext of risks linked to rabies, the agents seized the squirrel Peanut as well as a raccoon named Fred, before euthanizing them a few days later. This event caused a wave of anger and indignation across the United States. Many Internet users denounced the brutal intervention of the NYSDEC and expressed their support for Longo.
In response to the Peanut affair, a user known as @HrHJpu launched the PNUT token on the Solana blockchain on October 31, 2024. During this launch, the user also shared a link to a petition titled “Justice for Peanut and NYSDEC Reform” to mobilize the community around the case and denounce alleged abuses by the public agency. To date, the petition has collected more than 75,000 signatures.
Among the many reactions provoked by this affair, that of Elon Musk particularly stood out. The CEO of Tesla and SpaceX publicly denounced the authorities' decision, declaring that: “The government should not have the right to kill your pets! […] Why kill PNUT instead of releasing him into the forest? “.
By using the term PNUT in a series of tweets, Elon Musk caught the attention of the crypto community, sparking an immediate wave of interest in the eponymous meme coin.
Thanks to this visibility, the popularity of the PNUT token quickly exploded and its capitalization as well, even reaching $1.5 billion at the time of writing.
A single corner like no other?
At the beginning of November, the story of the Peanut squirrel quickly took a political turn as the US presidential elections approached. Senator JD Vance, Donald Trump's running mate, used this story as a striking example to denounce what he considers to be abuses of power by the authorities. At a rally, he said the tragedy illustrated “the failure of government [démocrate] to focus on essential priorities, preferring to attack ordinary citizens and their animals. »
Elon Musk amplified this phenomenon in a series of provocative tweets. In one, he said after the election: “America was saved by a squirrel and a memecoin!” “. According to him, Peanut's story would have helped to raise public awareness about the Biden government's actions, thus influencing the outcome of the vote in favor of Donald Trump.
The politicization of the Peanut case reached its peak on November 15, when Neil Gorsuch, Justice of the Supreme Court of the United States, referred to the Peanut case as an emblematic example of government over-regulation. At an event hosted by the Federalist Society, an influential organization that promotes a strict interpretation of the U.S. Constitution and defends conservative principles, Gorsuch said, “I've seen too many cases like this. You've probably heard of one of them recently […] Yes, I'm talking about Peanut the Squirrel. »
Gorsuch was referring to the seizure and euthanasia of Peanut by New York authorities, an act he considers an unwarranted intrusion into citizens' privacy and a demonstration of the government's mismanagement of priorities.
This statement, although brief, gave unexpected legitimacy to the Peanut story, making the squirrel and its memecoin symbols of protest against state overreach.
Who created the PNUT crypto?
The PNUT token was launched by the pseudonym @HrHJpu on October 31, 2024 on the Pump.fun platform.
Meanwhile, a petition titled “Justice for Peanut and Reform of NYSDEC” was posted on Change.org by someone named Brianna Corona. However, there is no direct link proving that Brianna and @HrHJpu are the same person or that they are collaborating on the project.
Our opinion on Peanut the Squirrel (PNUT)
The Peanut Affair illustrates how real-life stories, amplified by social media, can not only influence public opinion, but also disrupt political spheres and even interfere in financial markets.
The politicization of the case, particularly with figures like Elon Musk or Judge Neil Gorsuch, shows how a story can serve as a lever to galvanize communities. PNUT is therefore not just a simple memecoin; it has become a symbol of debates over government over-regulation and administrative priorities.
It is important to note that the PNUT remains, despite its origin and its political impact, a memecoin without concrete utility. Its value rests above all on the media momentum and the support of a community moved by the story of Peanut.
However, thanks to its meteoric growth and its listing on major platforms like Binance, the PNUT meme coin could be on track to compete with iconic memecoins like Dogecoin or Shiba Inu.
What is your opinion on the PNUT memecoin?
👉 Discover more than 100 summary sheets on cryptocurrencies
The #1 Crypto Newsletter 🍞
Receive a summary of crypto news every day by email 👌
What you need to know about affiliate links. This page may feature investment-related assets, products or services. Some links in this article may be affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no harm to you and you can even get a bonus using our links.
Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and cannot be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to cryptoassets are risky by nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.
AMF recommendations. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your capacity to lose part of this savings. Do not invest if you are not prepared to lose all or part of your capital.
To go further, read our Financial Situation, Media Transparency and Legal Notices pages.
I immersed myself in the world of blockchain in 2016, following a captivating discussion with a friend about Bitcoin. My journey since then has been guided by a constant quest for technical innovation and the development of revolutionary solutions that redefine our interaction with technology.
Ambroise Lalloz
30 items
