New Meme Coin PNUT Surges on Solana, Driven by Viral TikTok Pet and Elon Musk

• Solana meme coin sensation PNUT hits $1.3 billion market cap in 10 days.
• Elon Musk sparks meme coin frenzy with latest comments.
• Meme coin proponents advise caution amid market hype.

The Solana meme coin ecosystem is experiencing a surge in activity, fueled by the explosive growth of PNUT, a new meme coin inspired by a viral TikTok pet.

In the last 10 days, PNUT reached a market cap of $1.3 billion and is now the fourth-largest Solana meme coin. Additionally, PNUT is now eighth overall in meme coin rankings when its 24-hour trading volume surpassed WIFs’.

PNUT, or Peanut the Squirrel, is named after a popular pet on TikTok which was put down by environmental authorities due to illegal wildlife ownership.  Many animal lovers and celebrities, including tech billionaire Elon Musk, were upset about this. On November 13th, Musk shared an image of the token in response to a post from Rabbit Hole about government spending.

Why is PNUT So Popular?

Musk tweeted “a squirrel and a meme coin saved America,” which got a lot of atten…

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