Social media is abuzz with reports of Peanut, a popular pet squirrel with 500,000 Instagram followers, being euthanized by New York State officials. This was followed by a wave of peanut-themed meme coins, showing significant growth over the weekend.
The legacy of Peanut the Squirrel lives on in meme coins and on social media
Peanut the squirrel has skyrocketed to internet fame, joining the ranks of other beloved animals such as Moo Deng, a baby pygmy hippopotamus at Thailand’s Khao Kheow Open Zoo. Through their Instagram, where Peanut shared the spotlight with his owner Mark Longo, the duo won the hearts of 500,000 followers.
Longo first saved Peanut seven years ago after witnessing the young squirrel’s mother being hit by a car in New York City. After suffering a serious injury that made life in the wild impossible, Peanut found a permanent home with Longo, who nursed him back to health and became his devoted guardian.
On October 30, 2024, the New York State Department of Environmental Conservation (DEC) seized Peanut and another of Longo’s pets, a raccoon named Fred, after receiving several anonymous tips about their alleged illegal possession. DEC said these wild animals could potentially carry rabies, which poses a public safety risk.
During the so-called “investigation,” Peanut reportedly bit an official, prompting the agency to euthanize both animals for testing for rabies. Longo unequivocally criticized the agency’s priorities, arguing that they should focus on pressing public health issues rather than taking away beloved pets like Peanut.
Since the incident, Peanut has caused quite a stir on social media sites like X, with memes showing Donald Trump proudly posing next to Peanut, and even X owner Elon Musk joining in on the Peanut meme action. Peanut’s influence has also spread into the crypto scene, with dexscreener.com reporting numerous Solana-based meme coins branded with the Peanut name.
Some of these coins boast liquidity ranging from $300,000 to $1.6 million, while nearly all posted triple-digit gains over the weekend. The three top tokens collectively claim a market valuation approaching $200 million. Dexscreener.com highlights one particular Peanut coin, $PNUT, which is said to have soared 3 million percent, giving it an estimated market value of $6.36 billion and trading liquidity of $657,000.
Nearly all of the Peanut-inspired meme coins emerged after government officials banned Peanut, with nearly a dozen versions of the coins minted across multiple chains. Much like the rise of Mu Dan-themed tokens or meme coins around politicians and other quirky figures, it’s no surprise that the Peanuts story has inspired a new wave of tokens. On social media, supporters of each version claim it is the “real and original” Peanut coin. How long this fad will last is anyone’s guess, but the Peanuts story is nonetheless becoming a curious piece of internet culture.
