PNUT, a Solana-based meme coin inspired by the story of a pet squirrel, witnessed a significant surge in trading activity less than three days after its launch. The coin’s value increased rapidly due to public outrage over the euthanasia of the pet squirrel, Peanut the Squirrel, who gained internet fame.
Celebrities like Elon Musk also contributed to the hype. However, the market cap of PNUT has since reduced to $58.6 million after its peak of nearly $130 million.
