Peanut the Squirrel: From Viral Pet to Memecoin Sensation
The unexpected euthanisation of Peanut the Squirrel, a beloved social media personality, has triggered a wave of activity on the Solana blockchain, with multiple Peanut-themed memecoins quickly gaining traction. The squirrel, whose online presence charmed hundreds of thousands, has inspired numerous memecoin creators, turning Peanut’s legacy into a new financial trend.
Outrage Over Euthanisation Sparks Crypto Response
Mark Longo, the squirrel’s caretaker, revealed on social media that Peanut was confiscated and subsequently euthanised by New York’s Department of Environmental Conservation following complaints about unsafe housing conditions. This act led to widespread criticism online, with Longo condemning those responsible, saying, “To the group of people who called DEC, there’s a special place in hell for you.”
It is NOT ok for the government to barge into your home and kill your pets!
The incident has stirred anger and drawn commentary from public figures, including Elon Musk, who labelled the authorities’ actions as “mindless” and “heartless.” The support from high-profile voices has amplified the event’s reach, pushing Peanut’s story beyond animal lovers to wider audiences, including the cryptocurrency community.
Memecoins Flood Solana’s Market
The surge in attention quickly translated to Solana’s DeFi market, where memecoins themed after Peanut gained significant popularity. According to DeFi data tracker Dexscreener, a token named Peanut the Squirrel (PNUT) amassed a market cap exceeding $100 million, briefly peaking at $120 million before a minor market correction. Another notable coin on the BNB Smart Chain reached a similar volume, showing the widespread appeal of Peanut-themed assets across blockchain ecosystems.
I bought this $PNUT for $200 as soon as it went live and now its worth $300,000. Pretty insane.
Additionally, a memecoin dedicated to Peanut’s fellow euthanised animal, a raccoon named Fred, has also emerged. Although less popular than PNUT, the “First Convicted Raccoon” token (FRED) still recorded an impressive 150,000 transactions with a volume of $83 million.
Public Reactions and Market Speculation
The rapid rise of Peanut-themed memecoins has elicited varied responses. Some view the tokens as a light-hearted way to commemorate the viral squirrel, while others express scepticism about such assets’ long-term value and sustainability. Critics argue that these memecoins, rooted in fleeting internet trends, could see abrupt drops once the initial excitement fades.
Conclusion: The Future of Peanut-Inspired Memecoins
While the unexpected passing of Peanut the Squirrel has sparked substantial activity in the crypto world, questions remain about the longevity of these tokens. With the initial hype around Peanut’s story beginning to stabilise, investors are left to decide whether these memecoins offer a meaningful tribute or capitalise on a viral moment. For now, Peanut’s legacy lives on in the blockchain space, highlighting the cryptocurrency market’s ongoing fascination with internet culture and public sentiment.
