Original title: “The market value of MEME coin Pnut once exceeded 100 million, and the death of Peanut, an Internet celebrity squirrel supported by Musk, triggered a political movement in the United States”
Original author: Nancy, PANews
BlockBeats Note: On November 11, according to the official announcement, Binance will list Act I: The AI Prophecy (ACT), Peanut the Squirrel (PNUT) and open spot trading pairs at 18:00 on November 11, 2024. Perhaps affected by this, PNUT rose by more than 120% in a short period of time, and was temporarily trading at US$0.376 as of press time. This article was first published on November 4. It reviews how the death of this Internet celebrity squirrel evolved into an American political movement with the support of many celebrities such as Musk, and the market value of its eponymous meme coin once exceeded 100 million. The original text is as follows:
This past weekend, the MEME coin Pnut became a hot target of speculation among Degens, and its market value exceeded the US$100 million mark in just one day. This craze is related to the news that the American Internet celebrity squirrel Peanut was “arrested” and then euthanized. The public’s regret for Peanut’s unfortunate experience is spreading across the Internet, especially with the “fueling” of public figures such as Musk, which has made this phenomenon This incident evolved into a political movement in the United States, arousing strong indignation and widespread crusade across the Internet.
The market value of Pnut exceeds 100 million, and the deployer only earns 73,000 US dollars.
In the past few days, the Golden Dog project has reappeared in the MEME market on Solana, and the squirrel-themed MEME coin “Pnut” has been rapidly spread as a MEME satirical culture. Dex Screener data shows that starting from November 2, the price of the MEME coin “Pnut” began to skyrocket, with a maximum increase of more than 6,600 times compared to when it was launched. Its market value also exceeded US$110 million on November 3. As of the time of publication, Pnut’s market value has fallen back to approximately US$55 million.
Under the hot narrative, there are smart money who make huge profits, and there are also fly sellers who leave the market prematurely. According to @ai_9684xtpa monitoring, smart money GmM5U…Hu9vB opened a position in $Pnut at a low cost of $44,851 and has made a profit of $1.64 million, with a return rate of 3668%, and has sold nearly 90% of the position. According to Onchain Lens monitoring, a user spent 8 SOL ($1,392) to buy 19.4 million Pnuts, and then sold them at a price of 4.09 SOL ($711), resulting in a loss of $681. The value of these tokens once exceeded 1.85 million. US dollars; according to Lookonchain, the 19.1 million Pnuts sold by a certain address at a loss are now worth more than 1.6 million US dollars. The address spent 11 SOL (1,882 US dollars) to buy 19.1 million Pnuts, and finally bought 19.1 million Pnuts for 4.57 SOL (783 US dollars). ) for a loss of $1,099.
It is worth mentioning that Lookonchain data detection shows that the deployer of Pnut proposed 2 SOL from Coinbase to issue Pnut and then quickly sold all its Pnut. The other two wallets associated with it have also sold all Pnut, with a total profit of Only about $73,000.
After Pnut became popular, the MEME market’s attention has refocused on some raccoons, elephants and other animal MEME coins with similar concepts, but currently only Pnut maintains a certain market popularity.
Internet celebrity Squirrel was detained and executed, sparking controversy and becoming a weapon of public opinion in political struggles
The reason why MEME coin Pnut has attracted so much attention is related to the controversy surrounding the arrest and death of the internet celebrity squirrel “Peanut”.
More than seven years ago, mechanical engineer Mark Longo witnessed the tragic death of a little squirrel’s mother in a car accident by chance. Out of compassion, he took the lonely little squirrel home and gave it… I chose a sweet name “Peanut”. During the care process, Mark Longo used his social media account to share countless interesting interaction videos between Peanut and him, 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 has grown deeper, he has devoted himself wholeheartedly to wildlife protection since last year and founded a non-profit animal sanctuary “P’Nuts Freedom Farm Animal Sanctuary”. There are currently more than 300 animals adopted, including horses, goats and alpacas.
However, a sudden storm 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) officers broke into Mark Longo’s home without a search warrant and arrested Peanut. “I was treated as if I was a drug dealer, and the officials acted as if they were looking for drugs and guns.” Mark Longo revealed that the Environmental Protection Agency received complaints from many people that peanuts were wild animals and were worried that they could transmit rabies. disease.
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 expected. Mark Longo then solemnly announced that Peanut had been euthanized by the relevant departments because it was considered an “illegally raised wild animal.” The DEC said after Peanut bit someone involved in the investigation, the squirrel and another raccoon, Fred, were euthanized so they could be tested for rabies.
This news instantly caused an uproar on the entire Internet. Countless netizens expressed strong dissatisfaction and anger, and DEC was also caught in the whirlpool of public opinion.
“New York City treats Peanut the squirrel as cruelly as it treats Harambe (the gorilla shot to save a boy in a US zoo).” Memecoin project Dogecoin tweeted. Musk also joined the mourning event and posted multiple 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 too bad. Even keeping squirrel pets is illegal. (In fact, it shouldn’t be illegal), why kill Peanut instead of putting it back in the forest?”, “The government is a ruthless killing machine, Trump will save the squirrel, Peanut rest in peace.” Such as the United States The satirical news site Babylon Bee said, “Radical squirrels wearing MAGA hats have begun an uprising.”
Musk expresses support for Peanut
At the time of the decisive battle in the US presidential election, the controversy about Peanut has fermented into a crusade against the Democratic Party, and has even been used as a public opinion weapon in political contests.
