PNUT Price Jumps 200% as Elon Musk Promotes Peanut

PNUT price soared by 200% following Elon Musk’s mention of Peanut the Squirrel in a recent X post, fueling a rally for the Solana-based meme coin.

After Elon Musk’s most recent post, which referenced a “squirrel and a meme coin” saving America, PNUT, a meme coin inspired by Peanut the Squirrel, experienced a 200% increase. The Solana-based token experienced a significant rally due to the playful mention’s rapid traction on social media.

PNUT has emerged as the most recent meme coin due to its association with Musk’s humorous posts. As investors and crypto enthusiasts capitalized on the excitement, the trading volume of Solana-based tokens surged to more than $2 billion within 24 hours.

Following a tweet from Elon Musk, Peanut the Squirrel experiences an increase in popularity

In a recent X post, Elon Musk made a humorous comment: “A squirrel and a meme coin saved America!” Musk’s interaction with this meme has caused a ripple effect in the crypto market, leading to an immediate increase in the price of PNUT.

In addition, the billionaire’s comment was made shortly after he shared an image of PNUT in response to a post from Rabbit Hole, which sparked controversy by questioning the government’s expenditure on HIV research involving transgender monkeys.

This post on X is consistent with Musk’s extensive history of engaging with meme coins, frequently resulting in rapid price increases for coins such as Shiba Inu and Dogecoin. The crypto market’s reaction to Musk’s comment underscores his ongoing influence over digital assets, as evidenced by the meme-based appeal that has propelled PNUT into the limelight.

The Increasing Popularity of Solana Meme Coins and the Rise of the PNUT Coin

PNUT, a meme coin on the Solana blockchain, is trading at $1.33, a 220% increase in the past 24 hours. Its price has increased by 2400% over the past 30 days and surged by 1140% in the past week. As traders capitalize on the rally, the coin’s 24-hour trading range has extended from a low of $0.3943 to a high of $1.47, with a trading volume of $2.72 billion.

The price of ACT has increased by 2,700% in the past week, and Bonk has risen by 50%, trading at $0.00003. This is indicative of the increasing popularity of the top Solana meme coins. The current meme coin boom on Solana has investors speculating about the potential for tokens such as BONK to continue to appreciate. Some enthusiasts are wondering if it could reach $0.1 shortly.