PNUT Surges 300% Following Elon Musk’s Recent Tweet
PNUT (#PNUT), a meme coin inspired by Peanut the Squirrel, has surged 300% in value within hours after Elon Musk tweeted a peanut emoji. His tweet referenced how the squirrel's controversy influenced voting patterns during the recent election.
— Elon Musk (@elonmusk) November 13, 2024
The PNUT price is currently at $1.70, with a market cap exceeding $1.70 billion. This significant increase follows its launch just one week ago, coinciding with election results.
PNUT has also seen trading volume exceed $2 billion in the past 24 hours, attracting many investors and crypto enthusiasts.
In another response on X, Musk stated:
βAmerica was saved by a squirrel and a meme coin!β
America was saved by a squirrel and a meme coin!
— Elon Musk (@elonmusk) November 13, 2024
Musk's engagement with meme coins often leads to price surges, as seen previously with Dogecoin and Shiba Inu. His influence highlights PNUT's emergence in the meme-based digital asset market.
Potential for PNUT to Ignite Solana Meme Coin Rally
Following Donald Trump's victory, the meme coin sector led by Dogecoin (#DOGE) has experienced notable gains. With Musk's recent appointment to the Department of Government Efficiency (D.O.G.E), attention is on future developments in this sector.
Musk has historically supported meme coins, particularly Dogecoin. His interest in PNUT suggests potential further hints that may impact the market.
Additionally, other Solana meme coins are gaining momentum, with ACT increasing by 2,700% over the past week and Bonk rising 50% to $0.00003. This rally has led investors to speculate about whether tokens like BONK (#BONK) could maintain their upward trajectory, possibly reaching $0.1.