A Solana-based memecoin, Peanut the Squirrel (PNUT), experienced a significant price increase after its launch on the Pump.fun token launchpad. After its market capitalization barely reached $10,000, Elon Musk and Donald Trump tweeted about the story, causing the market capitalization to reach 120 million dollars.
After Trump’s victory, it rose even further to 180 million dollars. A trader who bought the token for $16.20 began to take profits over the next three days, eventually pocketing $3 million. As the value of the PNUT memecoin increased, he sold his entire stock, making him a multi-millionaire within two weeks.
