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Peanut Squirrel Scandal Sparks Memcoin Rally

Peanut Squirrel Scandal Sparks Memcoin Rally

HappyCoinNews2024/11/05 11:44
By: HappyCoinNews
SOL+1.58%RLY0.00%

The scandal surrounding the death of a squirrel named Peanut has caused a wave of indignation among members of the crypto community and has also triggered a rally in memecoins dedicated to this animal.

The squirrel's owner, Mark Longo, has an account on social network Instagram*, where he has more than 600 followers. In it, he talked about the life of a squirrel, and the video with it gained many views.

However, someone complained about the animal, and the New York Department of Environmental Protection showed up at the man's house. They took away his squirrel and raccoon named Fred. The animals were forcibly euthanized, allegedly suspected of having rabies.

When this became known, a scandal broke out in the community, and at the same time, memecoins dedicated to the squirrel and raccoon began to appear on the network. Currently, the number of thematic memecoins based on Solana , related to the squirrel, number in the dozens. Even Elon Musk found out about it, saying that the authorities are a soulless killing machine.

After Elon Musk's announcement, a rally in memecoins began, with Peanut the Squirrel (PNUT) quotations growing the most. In two days token reached a trading volume of $300 million and 200 transactions. At its peak, the asset's market capitalization reached $000 million.

Peanut Squirrel Scandal Sparks Memcoin Rally image 0

Active growth was demonstrated token , dedicated to the second deceased animal, Fred the raccoon. The First Convicted Raccoon (FRED) memecoin reached $83 million in trading volume in a few days, and the number of transactions was 150. The market capitalization of the asset reached $000 million.

Other squirrel-themed memecoins have also shown growth, and people have started investing in them, too. crypto whales , as well as retail investors.

* Belongs to the Meta company, which is recognized as extremist.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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