PNUT (Peanut the Squirrel) rose 2.81% in the last 24 hours

Gate News Bot news, July 10, according to CoinMarketCap data, as of the time of writing, PNUT (Peanut the Squirrel) is currently priced at $0.23, with a 2.81% rise in the last 24 hours, reaching a high of $0.26 and a low of $0.21. The current market capitalization is approximately $232 million, an increase of $6.35 million compared to yesterday.

Peanut the Squirrel is a token project based on the Solana network. The project originated from an incident where a squirrel named Peanut was taken away and euthanized by NYSDEC, which sparked widespread attention and protests. The PNUT token aims to commemorate Peanut and become a symbol of second chances and hope. The project emphasizes the importance of protecting pets and personal freedom, and Peanut's story has inspired many to call for reform. Although Peanut has passed away, his spirit continues to live on in the hearts of supporters, inspiring people to pursue kindness, compassion, and action.

Important news about PNUT recently:

1️⃣ Musk's tweet triggers price volatility Elon Musk posted a comment about "Peanut" on a social media platform. Although he did not directly mention the PNUT token, the timing of the tweet coincided closely with the rise in PNUT's price. Musk's comment garnered over 4.5 million views in a short time, drawing widespread attention from cryptocurrency traders and driving the price of PNUT up rapidly from about $0.2279 to $0.2357.

2️⃣ Trading volume surges, market capitalization rises Influenced by Musk's tweet, the 24-hour trading volume of PNUT surged over 80%, breaking through $214 million. The market capitalization also rose, reaching approximately $235 million at one point. This phenomenon once again confirms the critical role of social media heat in crypto asset trading, as a viral tweet can mobilize millions of dollars in capital flows.

3️⃣ The project integrates network humor culture with the advantages of the Solana chain The "Peanut the Squirrel" project has recently accumulated a loyal fan base, successfully combining online humor culture with the high-speed trading advantages of the Solana blockchain. As a meme coin within the Solana ecosystem, PNUT showcased its rapid response ability driven by market speculation during this event, highlighting the potential of meme coins on the Solana chain.

From a technical perspective, the price of PNUT has shown a significant rise in the short term, but the increase has somewhat receded. On July 8, the price of PNUT was $0.22149, with a 24-hour rise narrowing to 4.48%. This indicates that market enthusiasm for PNUT may be gradually cooling, and investors should closely monitor the subsequent trends.

This message is not to be taken as investment advice; investors should be aware of market volatility risks.