The cryptocurrency world often sees interesting and unexpected developments under the influence of Elon Musk. The decision to put a cute squirrel named “Peanut” to sleep, which has recently been on the US agenda, has led to a new frenzy in the crypto market. While Peanut’s situation has become a subject of political debate, a new meme coin named “Pnut” has been launched inspired by this incident. Elon Musk’s post on Twitter about the squirrel has rapidly increased the value of the Pnut token. Pnut’s rise once again reveals the Musk effect on the meme coin market. Below the 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 incident that has become a trending topic in the US and a squirrel named “Peanut” have attracted attention in the crypto world. The squirrel in question was known as a cute mascot in the internet world, but authorities started putting it to sleep because it was a wild animal. While the situation was met with intense backlash, especially among Donald Trump supporters, Elon Musk also started to take ownership of the issue. As a result, this incident gained a different dimension with the launch of a meme coin called “Pnut” into the cryptocurrency market.
One of the events that has attracted attention in the political arena in the US for a while now 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 that the animal should be put to sleep angered Trump supporters. While this group held the Biden and Kamala Harris administration responsible for the incident, they frequently voiced their reactions on social media.
As is known, Elon Musk is known as a name close to Trump supporters. In this context, his interest in the Peanut incident is also remarkable. Musk mentioned Peanut in his posts on his Twitter account, which caused the incident to be talked about more in the public. At this point, Peanut’s impact on the cryptocurrency world became apparent. This incident, which spread instantly 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 are mostly created with humor and interest in social events, and whose value can rise and fall quickly. Elon Musk’s interest in memecoins such as Dogecoin and Shiba Inu in the past caused their prices to rise suddenly. A similar situation occurred for “Pnut”, which was launched with inspiration from the Peanut incident. This new memecoin named Pnut suddenly gained value when Elon Musk referred to Peanut as “Pnut”. While the token price suddenly jumped after Musk’s post, 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 vehicle with the support of Elon Musk.
After the launch of Pnut, big investors also turned their attention to this new memecoin. According to the examinations made by the crypto data platform Arkham, a crypto whale bought exactly $95,400 worth of Pnut. However, this investor lost almost 50% when the price of the coin decreased. What is interesting is that the whale did not sell his tokens despite this loss.
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