What is Peanut the Squirrel?
Peanut the Squirrel (PNUT) is a memecoin project symbolized by a cute squirrel and developed on the Solana blockchain. The project was inspired by the tragic passing of a real-life squirrel named P’nuts, who was seized and cruelly killed by authorities in New York.
The death of P’nuts sparked a social media storm, especially within the animal-loving community. Numerous posts and discussions around the keyword “Peanut the Squirrel” circulated online to express outrage and sorrow over the loss of P’nuts. This incident led to a wave of memecoins symbolized by “PNUT” in the crypto world, as various projects launched to commemorate P’nuts.
Among the many PNUT memecoins, on November 11, 2024, Binance officially listed the Peanut the Squirrel project on the Spot trading market. Before the listing, the project had a market cap of around $100 million; within an hour of the announcement, this figure quadrupled to $400 million.
The Story Behind the PNUT Memecoin
P’nuts became a social media icon through the Instagram account “peanut_the_squirrel12.” According to Longo, P’nuts’ caretaker, he rescued and raised the squirrel seven years ago after witnessing its mother hit by a car. With an endearing story and adorable photos, Longo’s account amassed 900,000 followers. Inspired by this success, Longo also founded the non-profit “Peanut’s Freedom Farm” to rescue over 300 abandoned animals, including squirrels, raccoons, dogs, and others.
The situation escalated on October 30, 2024, when the New York Department of Environmental Conservation (DEC) unexpectedly raided Longo’s home, seizing P’nuts for violating the ban on keeping wild animals as pets. Tragically, DEC officials not only seized but also killed and dissected the squirrel.
After Longo shared this story on social media, a wave of outrage erupted from animal lovers and influencers alike. Prominent figures, including Elon Musk, New York State Representative Nick Langworthy, and even former President Donald Trump, publicly condemned the DEC’s actions.
The story of P’nuts extended beyond the Web2 world, catching the attention of the Web3 community. Numerous memecoin projects inspired by P’nuts emerged to commemorate and protest the DEC’s actions, including the Peanut the Squirrel project.
Overview of PNUT Token
Basic Information
Token Name: Peanut the Squirrel
Token Symbol: PNUT
Blockchain: Solana
Listing Date: 11/4/2024
Price: $0.4 (as of 11/12/2024)
Market Cap: $400 million
Fully Diluted Market Cap: $400 million
Total Supply: 999,858,912
Max Supply: 999,858,912
Circulating Supply: 999,858,912
Purpose of PNUT Token
Currently, the entire supply of PNUT tokens has been distributed on the market. PNUT is primarily used for buying and selling, with no other practical utilities.Investors can buy and sell PNUT on major exchanges like Binance, OKX, Bybit, etc. Thanks alot for reading friends.