Cryptocurrency exchange OKX recently added the Peanut the Squirrel (PNUT) meme coin to its platform, inspired by the viral squirrel Peanut. The Solana-based meme coin is now available for spot trading with Tether(USDT) starting Nov. 11 at 10:30 AM UTC. After the launch on OKX, the PNUT token surged by nearly 9%, reaching a trading value of $0.4489.
This announcement came shortly after Binance revealed that PNUT would also be listed on their platform on the same day. The price of PNUT has seen a significant increase of 332% in the past 24 hours, largely attributed to its listing on Binance alongside another viral meme coin, Act 1: The AI Prophecy (ACT).
Traders on OKX can start depositing PNUT from the opening time on Nov. 11 at 9:20 UTC, with a call auction period extending from 9:40 AM to 10:40 AM UTC. However, withdrawals of the PNUT token can only be initiated after Nov. 12 at 10:00 PM UTC. The total supply of PNUT tokens currently stands at 999.8 million.
The PNUT meme coin was launched in memory of Peanut, the viral internet squirrel who was tragically euthanized by the New York City authorities following anonymous complaints. This incident sparked outrage among animal rights activists and the general public, including notable figures like Elon Musk, who viewed Peanut as a symbol of unnecessary government intervention.
In honor of Peanut, the crypto community created various meme coins, with PNUT emerging as the leading contender. Within just two days of its launch, PNUT achieved a trading volume of $300 million and processed over 200,000 transactions. The surge in popularity of PNUT reflects the widespread sentiment of remembrance and tribute to the beloved squirrel Peanut.
As the PNUT token continues to gain traction on major cryptocurrency exchanges like OKX and Binance, its value and market cap are expected to fluctuate. The enthusiasm surrounding PNUT serves as a testament to the enduring impact of Peanut and the community’s dedication to preserving its memory through innovative means like cryptocurrency.