Key Takeaways
- PNUT experienced a value surge of 20% after the listing announcement by Coinbase
- PNUT is the 9th largest meme coin with a market capitalization of more than $1.2 billion.
- Crypto analyst predicts that PNUT may experience a 463% surge. With the potential to raise the price to reach $5.
- The listing to this much popular exchange platform has enhanced the authenticity and investor’s interest in the coin.
The Coinbase announcement caused the Peanut the Squirrel (PNUT) value to surge 20%. The market capitalization of PNUT increased to $1.34 billion. PNUT surpassed the popular meme coins like POPCAT and MOG COIN.
Coinbase exchange decided to list the PNUT meme coin after Binance and Bitget. This decision ignited interest among traders. This positive sentiment resulted in a surge of the token to $1.35, representing a 30% increase in the last 24 hours. PNUT also witnessed a surge in volume and reached $1.5 billion in the same period.
PNUT meme coin rose to prominence followed by a viral social media controversy that involved a squirrel mascot named Peanut. Peanut was a squirrel mascot euthanized by the New York Department of Conservation.
This controversial incident went viral on social media and resulted in increased attention towards the PNUT token. Soon a cult following community started building around this meme coin resulting in the increase in the market capitalization of the coin to $2.4 billion.
This viral meme attracted significant attention on X( then Twitter). The token reached a market capitalization of $2.4 billion. The PNUT base is expanding with the listing of Coinbase. This trend of listing meme coins in exchanges will continue.
PNUT is the 9th largest meme coin with a market capitalization of more than $1.2 billion. Pump. A fun common launchpad was used to launch the token. Binance listing raised the token by 300% and reached its all-time high value of $2.44.
Binance received criticism for facilitating pump and dump by listing these low market cap meme coins into its exchange. Other allegations like unlawful employee termination and bribery are also faced by Binance.
The common launchpad platform pump. Fun faced allegations after introducing the livestream feature on the platform. Several users misused this feature to promote harmful activities and financial scams.
The FCA warning over unauthorized financial services leads to block access for UK users. The platform raises finances by generating $215 million and deploying more than 3.8 million meme coins. Solana meme coins gained significant traction this year. The overall market capitalization of these tokens rose to $20.5 billion.
The introduction of PNUT in the Coinbase exchange raises it above the other meme coins like POPCAT and MOG COIN in market capitalization. The Coinbase listing trajectory became a significant driving force for market trends. Usually, the listings cause price surges for the newly listed tokens. PNUT is the 12th meme coin to be included in the Coinbase exchange.
PNUT is Expected to Rise 463%
Analysts predict that PNUT is expected to encounter a further price surge in the coming months. The predictions of one crypto analyst state that PNUT may experience a 463% surge. With the potential to raise the price to reach $5.The existing momentum and increased visibility on major exchanges like Coinbase and Binance may support the goal to achieve this goal.
MagicEden’s ME token, Turbo(TURBO,) and Gigachad(GIGA) are also supported by Coinbase. TURBO is an AI-based ERC-20 token and GIGA, SPL token from Solana blockchain also witnessed an increased visibility followed by the listing announcements. The trading of TURBO and GIGA is expected to begin on December 11 if the liquid conditions are set. Coinbase and Binance are expanding their portfolios by listing more meme coins to attract a broader audience.
Current Price Analysis of PNUT
At the time of reporting this, the price of the PNUT token is $0.00142. The Market capitalization of the token is $142,037.The 24-hour trading volume is $6,684.98. The circulating supply of the token is 100,000,000. Total supply is
100,000,000. The maximum supply is 100,000,000. The token is available on decentralized cryptocurrency exchanges. Currently, the most trading exchange option is Raydium with a trading volume of $5,894.50 for the last 24 hours. The most active trading pair is PNUT/SOL. Compared to the recorded lowest price of PNUT, the coin has increased by 774.57%.
The listings and performance of the token seem to be promising along with the expected market conditions that arise due to the victory of TRUMP. But crypto investments are subjected to market fluctuations so invest after doing proper research on the credibility and authenticity. The volatile nature can have its impact on your investments.
Also Read: Stablecoin Market Capitalization Urge To Record $200B: Net to Hit $400B by 2025?
