Original Article Title: "MEME Coin Pnut Surpasses One Billion Dollar Market Cap, Death of Elon Musk-endorsed Internet-Famous Squirrel Peanut Sparks US Political Movement"

Original Article Author: Nancy, PANews

BlockBeats Note: On November 11th, according to an official announcement, Binance will list Act I: The AI Prophecy (ACT) and Peanut the Squirrel (PNUT) for spot trading starting at 18:00 on November 11th, 2024. Possibly influenced by this news, PNUT surged over 120% briefly, reaching $0.376 at the time of writing. On November 13th, Musk tweeted "America was saved by a squirrel and a meme coin," following which PNUT violently surged, reaching a price of over $2.3 at one point, a 446% increase in 24 hours, with a market cap of $2.4 billion.

This article was first published on November 4th, retracing the process of how the death of this internet-famous squirrel evolved into a US political movement with support from many celebrities like Musk, while its eponymous meme coin briefly surpassed a billion-dollar market cap. The original article is as follows:

Just this past weekend, the MEME coin Pnut became the speculative target of Degens, with its market cap soaring past the $1 billion mark in just one day. This craze was related to the news of the euthanasia of the US internet-famous squirrel Peanut, sparking public grief over Peanut's unfortunate fate spreading across the Internet, especially with the "boost" from public figures like Musk, turning this event into a US political movement, inciting strong public outrage and widespread condemnation.

Pnut Market Cap Hits Billion-Dollar High, Deployer Earns Only $73,000

These past few days, the MEME market on Solana saw the emergence of another cash-grab project, with a squirrel-themed MEME coin "Pnut" spreading rapidly as part of MEME satire culture. Dex Screener data shows that starting on November 2nd, the MEME coin "Pnut" price began to surge, peaking at an increase of over 6600 times from its launch, and its market cap also surpassed $1.1 billion on November 3rd. At the time of writing, Pnut's market cap has fallen to around $55 million.

Amid the fervent narrative, some smart money made substantial profits, while some early sellers regretted their decision. According to @ai_9684xtpa's monitoring, smart money with address GmM5U...Hu9vB strategically entered a position at the dip with $Pnut, investing a total of $44,851 and cashing out at $1.64 million, achieving an impressive ROI of 3668%. The address has since sold almost 90% of their holdings. Additionally, Onchain Lens observed a user who spent 8 SOL tokens ($1392) to acquire 19.4 million Pnut tokens, later selling them for 4.09 SOL tokens ($711), resulting in a loss of $681. At one point, the value of these tokens exceeded $1.85 million. Lookonchain also reported an address that sold 19.1 million Pnut tokens at a loss, now valued at over $1.6 million. This address initially spent 11 SOL tokens ($1,882) to buy 19.1 million Pnut tokens and later sold them for 4.57 SOL tokens ($783), incurring a loss of $1,099.

Of note, Lookonchain's data revealed that the Pnut deployer withdrew 2 SOL from Coinbase to mint Pnut and promptly sold all minted tokens. Two other associated wallets have also liquidated all their Pnut holdings, yielding a meager profit of approximately $73,000.

Following Pnut's rise to fame, the MEME market's attention has shifted back to animal-themed MEME coins such as raccoons and elephants. However, currently only Pnut maintains a certain level of market hype.

The Controversy of Arrest and Death of Internet-Famous Squirrel Escalates into a Political Tool

Behind the spotlight on the MEME coin Pnut lies the incident involving the popular internet-famous squirrel named "Peanut," who was arrested and subsequently put down.

Over seven years ago, mechanical engineer Mark Longo witnessed the tragic death of a squirrel's mother in a car accident. Touched by compassion, he brought the orphaned squirrel home and named it "Peanut." During the nurturing process, Mark Longo shared numerous entertaining interaction videos of Peanut on his social media accounts, quickly amassing hundreds of thousands of fans and turning Peanut into an animal influencer.

According to Mark Longo, as his love for animals deepened, he decided last year to dedicate himself entirely to wildlife conservation. He established a non-profit animal sanctuary called "P'Nuts Freedom Farm Animal Sanctuary," currently providing a home to over 300 animals, including horses, goats, and alpacas.

However, a sudden storm disrupted the peaceful life of Mark Longo and Peanut. According to the Associated Press, on October 30, New York State Department of Environmental Conservation (DEC) officials forcibly entered Mark Longo's home without a search warrant and arrested Peanut. "The treatment was as if I were a drug dealer, the officials' actions were like searching for drugs and guns," revealed Mark Longo, stating that the environmental agency received multiple complaints from the public claiming that peanuts were wild animals and they were concerned about diseases such as rabies.

As a result, Mark Longo had to launch a petition on social media, which quickly gained positive responses and signatures from tens of thousands of fans. However, the situation did not unfold as desired by the public. Mark Longo later heavily announced that Peanut had been euthanized as it was deemed an "illegally kept wild animal" by the relevant authorities. DEC stated that after Peanut bit personnel involved in the investigation, this squirrel and another raccoon named Fred were euthanized for rabies testing.

This news instantly caused a huge backlash across the internet, with countless netizens expressing strong dissatisfaction and anger, leading DEC into a whirlwind of public opinion.

"New York City's treatment of Peanut the squirrel is as cruel as the treatment of Harambe (the gorilla shot by an American zoo to save a boy)," tweeted the Memecoin project Dogecoin. Musk also joined this mourning event, posting multiple tweets in support of Peanut and Mark Longo, "The government should not be allowed to break into your house and kill your pet! This is terrible. Even if keeping a squirrel as a pet is illegal (which it shouldn't be), why kill Peanut instead of releasing it back into the forest?" and "The government is a ruthless killing machine, Trump would save the squirrel, rest in peace, Peanut." Meanwhile, satirical U.S. news site Babylon Bee stated, "MAGA hat-wearing radical squirrels begin to revolt."

Musk Supports Peanut

At the climax of the U.S. presidential election, this Peanut incident has escalated into a backlash against the Democratic Party, even being used as a political tool in public discourse.

Original Article Link

欢迎加入律动 BlockBeats 官方社群：

Telegram 订阅群：https://t.me/theblockbeats

Telegram 交流群：https://t.me/BlockBeats_App

Twitter 官方账号：https://twitter.com/BlockBeatsAsia