The market value of MEME coin Pnut once exceeded 100 million yuan. The death of Peanut, a popular squirrel supported by Musk, triggered a political movement in the United States.

Author: Nancy, PANews

Last weekend, MEME coin Pnut became a hot topic among Degens, and its market value exceeded the $100 million mark in just one day. This craze was related to the news that the American Internet celebrity squirrel Peanut was euthanized after being "arrested". The public's regret for Peanut's unfortunate experience was spreading across the Internet, especially with the "fueling" of public figures such as Musk, which turned this incident into an American political movement, arousing strong indignation and widespread condemnation across the Internet.

Pnut's market value exceeded 100 million yuan, but the deployer only earned 73,000 US dollars

In the past few days, the CashDog project has appeared again in the MEME market on Solana, and the squirrel-themed MEME coin "Pnut" has been rapidly spread as a MEME satire culture. Dex Screener data shows that starting from November 2, the price of the MEME coin "Pnut" began to soar, with the highest price increasing by more than 6,600 times compared to when it was launched, and its market value also exceeded 110 million US dollars on November 3. As of the time of writing, the market value of Pnut has fallen back to about 55 million US dollars.

Under the hot narrative, some smart money made a lot of money, and some sellers left the market too early. According to @ai_9684xtpa monitoring, smart money GmM5U...Hu9vB opened a position of $Pnut at a low point, costing $44,851 and making a profit of $1.64 million, with a return rate of up to 3,668%, and has sold nearly 90% of its positions. According to Onchain Lens monitoring, a user spent 8 SOLs (1,392 US dollars) to buy 19.4 million Pnuts, and then sold them at 4.09 SOLs (711 US dollars), losing $681. The value of these tokens once exceeded $1.85 million; Lookonchain also monitored that the 19.1 million Pnuts sold at a loss by an address are now worth more than $1.6 million. The address spent 11 SOLs (1,882 US dollars) to buy 19.1 million Pnuts, and finally sold them at 4.57 SOLs (783 US dollars), losing $1,099.

It is worth mentioning that according to Lookonchain data detection, the deployer of Pnut quickly sold all his Pnuts after withdrawing 2 SOLs from Coinbase to issue Pnut. The other two wallets associated with it have also sold all their Pnuts, with a total profit of only about US$73,000.

After Pnut became popular, the MEME market has refocused on some animal MEME coins with similar concepts such as raccoons and elephants, but currently only Pnut maintains a certain market popularity.

The detention and execution of the internet celebrity squirrel caused controversy and escalated into a weapon of public opinion in political struggle

The reason why MEME coin Pnut has attracted so much attention is related to the detention and execution of the internet celebrity squirrel "Peanut".

More than seven years ago, mechanical engineer Mark Longo witnessed a little squirrel's mother die in a car accident by chance. Out of compassion, he took the lonely little squirrel home and gave it a warm name "Peanut". During the care process, Mark Longo shared countless interesting interactive videos between Peanut and him on his social media account, which quickly attracted the attention of hundreds of thousands of fans, and Peanut also became an animal Internet celebrity.

According to Mark Longo, as his love for animals grew deeper, he decided to devote himself to wildlife protection last year and founded a non-profit animal sanctuary "P'Nuts Freedom Farm Animal Sanctuary", which currently has more than 300 animals, including horses, goats and alpacas.

However, a sudden incident broke the peaceful life of Mark Longo and Peanut. According to the Associated Press, on October 30, New York State Department of Environmental Conservation (DEC) officials broke into Mark Longo's home without a search warrant and arrested Peanut. "I was treated like a drug dealer, and the officials acted like they were looking for drugs and guns." Mark Longo revealed that the EPA received complaints from many people that peanuts are wild animals and they are worried that they can spread diseases such as rabies.

To this end, Mark Longo had to launch a petition on social media, which quickly received positive responses and signatures from tens of thousands of fans. However, the development of the situation did not go as everyone wished. Mark Longo then announced solemnly that Peanut had been euthanized by the relevant department because it was identified as an "illegally raised wild animal." DEC said that after Peanut bit the personnel involved in the investigation, the squirrel and another raccoon Fred were euthanized for rabies testing.

This news instantly caused an uproar on the entire Internet, with countless netizens expressing strong dissatisfaction and anger, and DEC was also caught in the whirlpool of public opinion.

"New York City treated the squirrel Peanut as cruelly as it treated Harambe (a gorilla shot by an American zoo to save a boy)." Memecoin project Dogecoin tweeted. Musk also joined the memorial and posted a series of tweets in support of Peanut and Mark Longo, "The government should not be allowed to break into your house and kill your pets! This is terrible. Even if it is illegal to keep squirrels as pets (which it shouldn't be), why kill Peanut instead of putting it back in the forest?", "The government is a ruthless killing machine, Trump will save the squirrels, rest in peace Peanut." For example, the American satirical news website Babylon Bee said, "Radical squirrels wearing MAGA hats have started an uprising."

Musk supports Peanut

As the final battle of the US presidential election approaches, the controversy over Peanut has evolved into a campaign to attack the Democratic Party and has even been used as a weapon of public opinion in the political struggle.