The cryptocurrency world often witnesses interesting and unexpected developments due to the influence of Elon Musk. The decision to put a cute squirrel named “Peanut” to sleep, which has been on the US agenda recently, has caused a new craze in the crypto market. While Peanut’s situation became the subject of political debate, a new meme coin named “Pnut” was launched, inspired by this incident. Elon Musk’s sharing about the squirrel on Twitter rapidly increased the value of the Pnut token. Pnut’s rise once again reveals Musk’s influence on the meme coin market. Bottom of Form
Elon Musk drew attention to that altcoin
Cryptocurrency markets continue to fluctuate under the influence of Elon Musk. The famous billionaire is known for his interest in humor and social events. This time, an interesting event is on the agenda in the USA and a squirrel named “Peanut” has attracted attention in the crypto world. The squirrel in question was known as a cute mascot in the internet world, but it was put to sleep by the authorities on the grounds that it was a wild animal. While the situation was met with intense reaction, especially among Donald Trump supporters, Elon Musk also started to embrace the issue. As a result, this phenomenon took on a different dimension with the introduction of a meme coin called “Pnut” into the cryptocurrency market.
One of the events that attracted attention in the political arena in the USA for a while was the decision to put this famous squirrel named Peanut to sleep. Peanut, who has many followers on the internet, also gained the sympathy of Trump supporters. However, the decision to put the animal to sleep angered Trump supporters. While this segment held the Biden and Kamala Harris administration responsible for the incident, they frequently expressed their reactions on social media.
Elon Musk is known as a name close to Trump supporters. In this context, his interest in the Peanut incident also draws attention. By mentioning Peanut in his posts on his Twitter account, Musk made the incident more talked about in the public. At this point, Peanut’s impact on the cryptocurrency world emerged. This incident, which suddenly spread on social media, led a group of developers to create a meme coin called “Pnut”.
The price of Pnut coin increased
In the cryptocurrency world, memecoins are known as tokens that can rise and fall quickly in value, mostly created with humor and interest in social events. Elon Musk’s past interest in memecoins such as Dogecoin and Shiba Inu caused their prices to rise suddenly. A similar situation happened with “Pnut”, which was released inspired by the Peanut incident. This new memecoin named Pnut suddenly gained value when Elon Musk referred to Peanut as “Pnut”. While the token price made a sudden jump after Musk’s post, the interest in this coin in the market increased rapidly. Pnut, which started to be listed on crypto exchanges in a short time, became a popular investment tool with the support of Elon Musk.
Following the launch of Pnut, major investors also turned their attention to this new memecoin. According to reviews by crypto data platform Arkham, a cryptocurrency whale purchased $95,400 worth of Pnut. However, this investor lost almost 50% due to a decline in the price of the coin. The interesting thing was that the whale did not sell his tokens despite this loss.
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