Death Of Beloved Animal Causes Various Meme Coins To Soar

Meme coins inspired by the beloved pet squirrel and social media star Peanut have recently emerged as exciting new opportunities for cryptocurrency enthusiasts looking to capitalize on trends.

Notable Surges

In a striking development, a token named PEANUT on the decentralized exchange (DEX) Uniswap saw an impressive surge of over 58% in just 24 hours, elevating its market capitalization to around $2.2 million, as reported by CoinMarketCap.

Meanwhile, a similarly named coin launched on the Solana SOL/USD-based DEX Raydium skyrocketed by a remarkable 336% during the same period, though it holds a much smaller market cap of $33,790.

However, it is crucial to note that the liquidity of these tokens remains very low. They are not listed on major cryptocurrency exchanges and are only available on DEXs, leaving them vulnerable to dramatic price fluctuations. Think of it like a rare collectible, as while the excitement can drive up its value, the limited market can lead to significant swings.

Elon Chimes In

The significance of this trend has been amplified by recent events surrounding Peanut, whose untimely death has ignited passionate discussions just ahead of the U.S. Presidential Elections. New York state officials confiscated and euthanized Peanut, along with a raccoon named Fred, citing concerns about potential rabies exposure. This decision triggered an outpouring of outrage across social media, with influential figures and fans expressing their sorrow.

Notably, tech mogul and Republican supporter Elon Musk weighed in, tweeting that President Donald Trump will save the squirrels, along with a heartfelt message of condolence. His post resonated with many, highlighting the emotional connection people have formed with Peanut, who had amassed 666,000 followers on Instagram.

As the conversation surrounding Peanut continues to unfold, it serves as a poignant reminder of the intersection between digital culture and real-world events, reflecting how a small creature can capture hearts and influence trends in unexpected ways.