Deutsch한국어日本語中文EspañolFrançaisՀայերենNederlandsРусскийItalianoPortuguêsTürkçePortfolio TrackerSwapCryptocurrenciesPricingIntegrationsNewsEarnBlogNFTWidgetsDeFi Portfolio TrackerOpen API24h ReportPress KitAPI Docs

Premium is discounted today! 👉 Get 60% OFF 👈

Meme Coin Peanut the Squirrel (PNUT) Rallies After Elon Musk’s Tweet

3h ago
bullish:

0

bearish:

0

Share
img

Meme coin Peanut the Squirrel PNUT $0.21 24h volatility: 5.1% Market cap: $211.57 M Vol. 24h: $104.45 M , named after the viral squirrel named Peanut, is once again in the limelight, surging over 7% to $0.235 earlier today following Elon Musk’s recent tweet.

The daily trading volume for PNUT has shot up by 150% to more than $257 million, showing strong bullish sentiment for the meme coin.

PNUT Meme Coin Soars 10% After Elon Musk’s Viral Post

Solana-based meme coin PNUT surged more than 10% late Tuesday following a viral post from Elon Musk, reigniting speculative mania in crypto markets. The Tesla and SpaceX CEO criticized U.S. authorities for euthanizing “Peanut,” a squirrel that recently gained internet fame, while also taking aim at the government’s failure to prosecute individuals linked to Jeffrey Epstein’s alleged client list.

Musk’s post, shared on his social media platform X, triggered an immediate uptick in trading activity for PNUT. On-chain data also revealed a sharp increase in both trading volume and price within minutes of the mention.

Despite having no protocol, utility, or roadmap, PNUT continues to gain traction in the crypto space.

The token sees volatile moves amid the social media excitement and trending discussions in the market. The recent tweet by Elon Musk, and the PNUT rally soon after is a testament to it.

PNUT Open Interest Spikes 14%, Analysts Expect 600% Rally

Following Elon Musk’s tweet, the PNUT futures open interest has surged by 14% to $132 million, as per the Coinglass data. The increase in the open interest highlights strong trader sentiment for the squirrel-themed meme coin. Some market analysts also believe that the rally is likely to continue from here onwards.

Solana SOL $149.3 24h volatility: 1.2% Market cap: $79.99 B Vol. 24h: $4.32 B meme coin PNUT may be positioning for a significant continuation rally, according to crypto analyst Javon Marks, who highlighted a potential 654% upside move toward the token’s projected breakout target of $1.7907.

In a post on X, Marks noted that the setup suggests strong bullish momentum remains in play, with technical indicators pointing to the possibility of an extended leg higher.

Meanwhile, Bitcoin also saw gains following an endorsement from Tesla CEO Elon Musk, with market observers calling it a major moment for the broader crypto ecosystem.

The post Meme Coin Peanut the Squirrel (PNUT) Rallies After Elon Musk’s Tweet appeared first on Coinspeaker.

3h ago
bullish:

0

bearish:

0

Share
Manage all your crypto, NFT and DeFi from one place

Securely connect the portfolio you’re using to start.