1. What is a Peanut Protein Token (PNUT)?
Peanut Squirrel Token (PNUT)launched in early November 2024 on the Solana blockchain, is meme-based cryptocurrency inspired by a viral sensation on social networks, Squirrel Peanut. Combining charm and community involvement, PNUT has quickly risen in the ranks of the crypto world, surpassing some major tokens and meme coins. rated at #47 now in my own way market capitalization exceeded $2 billion in less than 2 weeksand attracting investors and enthusiasts.
2. PNUT price from record low to 10-day high: HOW?
PNUT’s price path has been extraordinary. Here is a chronology of the main stages of his work:
- All-time low: On November 4, 2024, the price of PNUT was $0.03128. In just 10 days, its value increased by more than 6000%.
- Record high: On November 14, 2024, PNUT peaked at $2.47 in a meteoric rise driven by strong market sentiment and community support (a few hours ago today).
As of November 14, 2024, PNUT is trading at $2.04, down 16.58% from its all-time high but maintaining an impressive daily gain of 24.14%.
PNUT Market Performance
- Market capitalization: $2.01 billion (+22.00%)
- 24 hour volume: $4.45 billion
- Circulating supply: 999.85 million PNUT
- Total stock: 999.85 million PNUT
Such rapid growth has led to the fact that KICK among 5 most popular tokens today and put it on rank this week’s best performer among all cryptocurrencies, rivaling the oldest cryptocurrencies to ever exist. Coming to the meme coin category, since its launch it has amassed an incredibly huge market capitalization of over $2 billion, allowing it to surpass other famous names such as POPCAT, MEU, NEURO, MOGand many others and close behind FLOCKSthreatening to surpass it soon if it continues the same trend and high investor interest. Comparing its performance, the best match would be Act I: AI Prophecy (ACT)although still far behind in 108th place – twice as much as PNUT, despite the impressive results it managed to achieve. Another similar performance worth mentioning is this Kozeley Maximus (GOAT)now it’s still behind at #83 With Market capitalization $907.50 million..
Key success factors for PNUT
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Viral popularity
The real-life squirrel Peanut has gained immense popularity on social media, leading to significant interest in the token. Its unique branding and emotional appeal resonated with a wide audience. -
Loud endorsements
PNUT’s rise has been aided by support from influential figures such as Elon Musk, who have mentioned Peanut the Squirrel on social platforms. Such mentions often lead to increased investor confidence and market excitement.
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Listings on major exchanges
Listing on renowned exchanges such as Binance has increased the liquidity and availability of the token, significantly increasing trading volumes and market capitalization. -
Community Engagement
The community-driven idea of the PNUT token played a vital role in its adoption. Active social media campaigns and constant updates kept the community active, contributing to the token’s remarkable performance.
3. What will happen next for PNUT: is there a Bullish or Bearish trend ahead?
As PNUT continues to be among the top performing tokens, its future looks promising. The token’s success story highlights the growing importance of community participation and branding in the crypto space. However, potential investors should remain cautious given the inherent volatility of meme-based tokens.
