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The world of meme coins thrives on controversy, hype and social media–driven frenzy. An in-depth look at the history of the rise of Dogecoin (DOGE) — the undisputed leader among meme coins — is enough to draw that conclusion. Over the past few months, several meme coins minted via platforms such as Pump.fun and SunPump have gone viral for either controversial or otherwise notable reasons. However, not many among even these viral coins have managed to rival the hype and stratospheric rise of Peanut the Squirrel (PNUT).
A Solana (SOL) meme coin launched in early November 2024 via Pump.fun, PNUT has stolen the spotlight in the crypto market because of tragic events surrounding the pet that inspired the coin, the U.S. presidential election that resulted in a Donald Trump victory, and tweets on the topic from none other than the grand meme coin promoter, Elon Musk.
Key Takeaways:
Peanut the Squirrel (PNUT) is a Solana-based meme coin inspired by the tragic story of Peanut, a pet squirrel seized from its owner and euthanized in early November 2024.
Spurred by the story's effect on the U.S. presidential election’s discourse and Elon Musk's tweets, PNUT turned into a viral meme coin with a market cap that has surpassed $2 billion just 11 days following its launch.
PNUT can be traded on Bybit as a USDT Perpetual contract.