Six years after becoming a viral meme, the heroic Peanut the Squirrel is once again gaining attention, but this time as a political and financial phenomenon.
Following Donald Trump’s victory in the 2024 presidential election, Elon Musk created a stir in the Cryptocurrency markets by making an unexpected reference to Peanut. “The prophecy has been fulfilled,” Musk posted on Unbeknownst to you, the squirrel owes you his life. In your darkest hour, the squirrel arrives.
A story that transcended politics and enlivened the market
Peanut’s story is not just a simple meme; It became a political issue when the squirrel, which had gained popularity online, was euthanized by New York authorities on suspicion of rabies.
This event unleashed the fury of Trump supporters, who saw Peanut as a symbol of resistance. Even Musk commented on networks: “President Donald Trump will save the squirrels,” a message that further fueled the issue in the campaign.
The PNUT token phenomenon
In the wake of this commotion, the Peanut meme materialized in the cryptocurrency market with the Solana-based Peanut the Squirrel token (PNUT).
In the days following Trump’s victory, PNUT’s value saw an impressive 585% rise, raising its market capitalization to $482 million. After Musk’s recent post, the token skyrocketed again by 260%, reaching a capitalization of $1.5 billion.
Evolution of the PNUT token in the last 24 hours. Source: CoinMarketCap
This phenomenon shows the growing relationship between popular culture, politics and the cryptocurrency market, where a simple meme can trigger significant movements and reflect the feelings of the audience in the digital environment.
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