Besides the fluctuations of Meme coins, this squirrel is associated with too many labels—U.S. elections, Trump, Musk, euthanasia…

Written by: Deng Tong, Golden Finance

Around 9:00 AM Beijing time on November 14, the market showed that PNUT (Peanut the Squirrel) briefly broke through $2.5, reporting at $2.4158, continuing to set a new historical high with a 24-hour increase of 422.3%.

This is not the first time PNUT has attracted attention with its surge. Around 8:00 PM on November 13, PNUT briefly broke through $1.5, reporting at $1.515, with a 24-hour increase of 247.41%; on November 11, influenced by Binance listing Peanut the Squirrel (PNUT), PNUT briefly reached $0.28, with a 141.15% increase within an hour.

But the story of the squirrel goes far beyond this; besides the fluctuations of Meme coins, this squirrel is associated with too many labels—U.S. elections, Trump, Musk, euthanasia… More stories need to be told from before the U.S. elections.

Past Life—The Internet Celebrity Squirrel Causing Political Interludes During the Election

The story of this little squirrel can be traced back seven years when Mark Longo rescued it after seeing Peanut's mother get hit by a car. Due to its injuries, Longo believed Peanut could not survive in the wild. Therefore, he took care of Peanut until it recovered and became its guardian.

Longo often shared Peanut's daily life on Instagram. Mark not only attracted fans with these videos but also founded an animal rescue organization in Peanut's name to raise funds for animals in need.

However, on October 30, after receiving an anonymous tip, the New York State Department of Environmental Conservation (DEC) took Peanut away and detained it. Longo told the media, "They treated me like a terrorist; the whole raid felt like a drug bust. My house was turned upside down, my wife was even questioned about her immigration status, and I was accompanied by police to check behind the toilet when I went to the bathroom."

Mark initiated a petition calling for the release of the squirrel he had spent seven years with, attracting a large number of supporters.

Subsequently, on November 2, news broke that Peanut had been euthanized, sparking strong outrage online. Longo expressed on social media, "This is a terrible nightmare for me." Community members condemned the DEC's violent enforcement and compared the incident to the 2020 "Black Lives Matter" movement, proposing the slogan "Squirrel Lives Matter." The DEC director was mocked as "Karen" for her tough stance, and the Democratic government became the focus of public criticism, with countless voters accusing them of "having the resources to kill a squirrel but unable to fix the bridges on the streets?"

Musk also joined the mourning activities, continuously posting tweets in support of Peanut.

At that time, the U.S. elections were in full swing. On November 4, Musk pinned a tweet on X social platform stating, "For PNut! For freedom, vote." Data showed that Peanut currently has a market value of $53.97 million.

Since the New York Environmental Protection Agency is under Democratic control, many people condemned the authorities for abusing their power. Trump's campaign team also took the opportunity to speak out multiple times:

Trump stated: If this squirrel had come from Mexico, the government would have arranged a hotel and shopping card for it. The Democratic government's treatment of the little squirrel is a waste of resources.

Trump's son, Donald Trump Jr., stated: Peanut's death should catalyze real change, voting out the current government.

On November 3, Vance said at a rally in North Carolina that Trump was "furious" about the squirrel's death and called it a question of the government's priorities. "The government doesn't care about thousands of illegal immigrant criminals entering our country, nor do they want us to have pets; it's just crazy."

The Democratic Party's antics and Trump's statements clearly ignited the public's election sentiment, with some people even calling on social media to vote for Trump to avenge Peanut.

(The content in the image roughly means: Kamala's party executed a cute pet squirrel named Peanut this week because they are crazy; vote for Trump to avenge Peanut! Serious note: If Trump includes Peanut in his speech and places an RIP graphic behind him, this race is officially over; we must seek justice for Peanut!)

At this point, Peanut represents a spirit of struggle for freedom and democracy; the fate of this little squirrel has been tied to the U.S. elections, becoming another dimension for Trump's team to attack Harris's team.

Present Life—Creating a Fortune with PNUT

The U.S. elections have concluded, but the story of this little squirrel continues. In the crypto world, this little squirrel has transformed into the Meme coin PNUT, becoming highly sought after and sparking the most fervent Meme coin trend.

As mentioned at the beginning of this article, PNUT has surged in recent days. According to Coingecko data, PNUT reached a recent peak of $2.27 around 9:00 AM today, with a 24-hour trading volume of $5.501 billion.

PNUT is a Meme coin launched on the Solana blockchain, and the story behind it is both tragic and resonant on social media. Coupled with the continuous support from big names like Musk and Trump, crypto whales were the first to sniff out profit opportunities with PNUT:

On November 5, according to Lookonchain monitoring, in the past three days, a whale spent 13,642 SOL ($2.22 million) to purchase Pnut, FRED, and OPK, currently showing a floating loss of $1.44 million. Among them, 7,142 SOL ($1.16 million) was spent to buy 14.46 million Pnut, now showing a loss of $553,000 (-48%).

On November 6, according to ai_9684xtpa monitoring, as PNut violently rebounded 127% in the past 24 hours, a mysterious whale that had previously spent 11,600 SOL heavily on Pnut, FRED, and OPK saw its floating loss narrow from $1.48 million to $183,000, nearing break-even.

On the same day, a trader created a new wallet and spent 15,132 SOL ($2.8 million) in the past two hours to buy Pnut and FRED. They spent 11,582 SOL ($2.14 million) to buy 17.35 million Pnut at a price of $0.12.

On November 10, according to Solscan data, an address starting with js5Lja accumulated about 28.83 million Pnut (worth over $2.4 million) in the past six days, becoming the largest holder.

On November 11, news of more whales buying came out, and subsequently, exchanges like Binance and OKX listed PNUT, leading to a gradually crazy market trend for Meme coin PNUT, with daily increases in the triple digits becoming commonplace.

Calculating from the price of $0.128 before the market took off on November 11, by around 9:00 AM today, the highest point of $2.27 means that in just four days, PNUT has skyrocketed by 1673%.

So, why has PNUT surged recently?

First, against the backdrop of Trump's victory, the overall crypto market has risen, and the former president's friendly attitude towards cryptocurrencies has excited crypto investors. Moreover, Musk, who has always promoted Dogecoin, is set to take office in Trump's administration's "Department of Government Efficiency," which shares the same abbreviation as Dogecoin (DOGE). The leading Meme coin, Dogecoin, has entered a new market cycle, making the surge of PNUT, which Musk has supported, quite reasonable.

On November 13, Musk directly promoted PNUT: "A squirrel and a Meme coin saved America!" With Trump and Musk leading the charge, PNUT soared.

Secondly, the recent surge of PNUT is related to the overall Meme market. In this round of crypto bull market cycle, Bitcoin and the Meme sector have performed the best. According to SoSoValue data, the Meme sector has risen by 11.90%. Additionally, the Trump-themed concept sector has shown highlights, with an increase of 189.05%, among which Peanut the Trump (PNUT) performed remarkably, with a 24-hour increase of 324.49% and a trading volume exceeding $6 billion. In terms of overall market trading volume, Meme projects continue to attract significant liquidity. In the past 24 hours, among the top 10 cryptocurrencies in trading volume (excluding stablecoins), there are as many as six Meme coins: DOGE, SHIB, PEPE, WIF, BONK, and PNUT.

The influence of Memecoins far exceeds merely attracting crypto enthusiasts—they have become the most powerful gateway to introduce newcomers to crypto. PNUT's repeated new highs once again showcase the unique charm of Meme coins—they deliberately break away from traditional cryptocurrency narratives, embracing community and entertainment-based fundamental values, and expressing the demands of ordinary people in a free atmosphere.

Conclusion

From a happy, internet-famous squirrel to a political figure supported by influential figures like Musk and Trump, and then to creating a Meme coin worth billions, this little squirrel's fate may have been destined to be extraordinary from the moment it was rescued seven years ago.

Peanut may be a victim of the U.S. elections, but it has inspired people's spirit of resistance and expressed the longing of ordinary people for freedom and love. In the future, PNUT may continue to replace Peanut in the crypto world, and we hope that while people enjoy the joy of wealth, they will occasionally remember this little tree spirit that once graced the earth.

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