Solana-based memecoin Peanut the Squirrel (PNUT) experienced a dramatic 20% price surge after Coinbase announced its inclusion in the exchange’s listing roadmap. The token’s market capitalization skyrocketed to $1.34 billion, surpassing competing meme coins like POPCAT and MOG COIN.
PNUT’s 35% Price Rally Driven by Coinbase Listing
The official listing announcement by Coinbase triggered a 35% price jump for PNUT within 24 hours, reaching $1.35**. According to **CoinMarketCap**, trading volume spiked to **$1.5 billion, reflecting heightened trader interest.
Originally gaining traction from a viral social media controversy involving its squirrel mascot "Peanut," PNUT has cemented its position as a community-driven meme coin. Its previous market cap peak of $2.4 billion underscores its volatility and speculative appeal.
👉 Why are meme coins like PNUT gaining mainstream adoption?
Market Impact: PNUT Outperforms Competitors
With Coinbase’s endorsement, PNUT has overtaken rivals like POPCAT and MOG COIN in market cap rankings. This listing marks PNUT as the 12th meme coin added to Coinbase, following tokens such as TURBO (AI-created ERC-20) and GIGA (Solana-based).
Key Developments:
- Binance previously listed PNUT, catalyzing similar price momentum.
- Open interest for PNUT futures rose 40.48% ($328.05M), signaling trader confidence.
- Coinbase’s upcoming support for Magic Eden’s ME token and TURBO/GIGA (trading goes live December 11).
Analyst Predictions: PNUT Could Rally 463%
Crypto analysts project a potential 463% surge for PNUT, targeting $5 if current trends persist. Factors driving this optimism:
- Increased visibility on major exchanges (Coinbase, Binance).
- Growing meme coin sector adoption.
- High trading volume and futures activity.
FAQ Section
Q: What caused PNUT’s initial popularity?
A: A viral incident involving its mascot "Peanut" sparked early community engagement.
Q: How does Coinbase’s listing affect PNUT’s price?
A: Listings often induce short-term price surges due to improved liquidity and accessibility.
Q: What are the risks of investing in meme coins?
A: Extreme volatility and speculative trading make them high-risk assets.
Q: Which other meme coins are gaining traction?
A: TURBO, GIGA, and MOG COIN are notable examples.
👉 Explore top meme coins with high growth potential
Conclusion
PNUT’s Coinbase listing has reignited market interest, propelling its price and market cap. While analysts foresee further gains, investors should exercise caution given the inherent risks of meme coins. The broader trend of exchange-backed meme coin adoptions highlights evolving crypto market dynamics.
Disclaimer: This content is for informational purposes only. Conduct independent research before making investment decisions.
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