The $PNUT memecoin, inspired by the viral story of Peanut the squirrel, has seen a dramatic surge in value following news that Coinbase is planning to list the token. With a 19% spike overnight and over 170% growth in the past 30 days, $PNUT is capturing the attention of crypto traders and meme culture enthusiasts alike. This momentum underscores the powerful influence major exchanges can have on emerging digital assets—especially those rooted in internet lore.
The Surge Behind $PNUT’s Meteoric Rise
In recent weeks, $PNUT has emerged as one of the most talked-about Solana-based memecoins, riding both emotional resonance and market speculation. According to CoinGecko data, the token has climbed more than 170% in the last month alone, with a notable 12.6% increase over two weeks and a sharp 19% jump immediately after Coinbase's announcement.
This kind of price action is not uncommon when a high-profile exchange like Coinbase signals intent to list a new asset. The so-called “Coinbase effect” refers to the well-documented phenomenon where tokens experience significant price appreciation upon being added to Coinbase’s roadmap—or even rumored for listing—due to increased visibility, investor confidence, and anticipated liquidity.
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Coinbase Adds $PNUT to Asset Listing Roadmap
On its official blog, Coinbase confirmed that $PNUT has been added to its public Roadmap for asset listing, meaning the token has passed preliminary evaluations across legal, compliance, and technical security standards. While this does not mean trading is live yet, it signals strong potential for future availability on one of the world’s most trusted crypto platforms.
Coinbase emphasizes transparency through its new assets page, where users can track which tokens are under review. However, the exchange warns that depositing unsupported assets may result in permanent loss of funds—a crucial reminder for eager investors rushing to get ahead of listings.
Historically, the Coinbase effect has proven powerful. For example, PEPE, another popular memecoin, surged over 76% shortly after being officially listed. The market reaction to $PNUT’s inclusion suggests traders are anticipating similar gains once trading goes live.
The Story That Sparked a Meme Movement
What sets $PNUT apart from other meme-driven tokens is its deeply emotional origin story—centered around Peanut, an orphaned baby squirrel who captured hearts worldwide.
Mark Longo, a wildlife rescuer from New York, had been caring for Peanut and Fred, a raccoon, after saving them as infants. He documented their journey on social media, where Peanut quickly became an internet sensation—adorable, playful, and symbolic of compassion toward wildlife.
However, the story took a tragic turn when the New York State Department of Environmental Conservation (DEC) seized both animals following anonymous complaints about alleged improper housing conditions. During the raid, Peanut reportedly bit a wildlife officer and was subsequently euthanized over rabies concerns. Later tests confirmed he did not have rabies.
The incident ignited widespread outrage online, turning Peanut into a symbol of bureaucratic overreach for many. His death became a political talking point in the lead-up to the 2024 U.S. elections, with figures across the spectrum commenting on animal rights, government intervention, and personal freedoms.
👉 See how real-world events fuel digital asset trends in unexpected ways.
From Tragedy to Token: Immortalizing Peanut on Blockchain
In response to the public outcry, developers launched $PNUT on the Solana blockchain as a tribute to Peanut’s legacy. The project’s website states: “He may no longer walk amongst us but he lives on forever.”
Built as a decentralized, community-driven token, $PNUT leverages Solana’s fast and low-cost network to enable broad participation. Despite being relatively new, it has already gained traction across major exchanges including Binance, Bybit, MEXC, OKX, and Gate.io—demonstrating strong early adoption.
Beyond speculation, the $PNUT community embraces themes of wildlife protection and digital memorialization, blending sentiment with blockchain innovation.
Why Memecoins Like $PNUT Continue to Gain Traction
Memecoins have evolved from jokes into serious market players. While early examples like Dogecoin began as satire, today’s memecoins often reflect cultural moments, social movements, or viral stories—making them highly relatable and shareable.
Tokens like $PNUT succeed because they combine:
- Emotional storytelling
- Community engagement
- Speculative potential
- Low entry barriers
Moreover, their presence on high-speed chains like Solana allows for rapid transactions and micro-investments, attracting younger, tech-savvy investors.
As long as internet culture continues to shape public discourse, memecoins tied to real-world narratives will remain relevant—and potentially profitable.
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Frequently Asked Questions (FAQ)
Q: Is $PNUT officially listed on Coinbase yet?
A: No. $PNUT has been added to Coinbase’s Roadmap for asset listing, which means it meets initial criteria but is not yet available for trading. An official announcement will come later.
Q: What caused the sudden price increase of $PNUT?
A: The surge followed Coinbase’s confirmation that $PNUT is under consideration for listing—a trigger known as the “Coinbase effect,” which often drives investor interest and short-term price spikes.
Q: Was Peanut the squirrel really euthanized?
A: Yes. Peanut was euthanized by the DEC after biting a wildlife officer during a raid. Rabies was suspected, but post-mortem tests showed he did not carry the virus.
Q: Can I buy $PNUT now?
A: Yes. Although not yet on Coinbase, $PNUT is already available on several major exchanges such as Binance, Bybit, OKX, and MEXC.
Q: What blockchain is $PNUT built on?
A: $PNUT is a Solana-based token (SPL token), benefiting from Solana’s high throughput and low transaction fees.
Q: Could $PNUT be delisted or fail?
A: Like all memecoins, $PNUT carries high risk due to volatility and reliance on sentiment. Investors should conduct thorough research and only invest what they can afford to lose.
Final Thoughts
The rise of $PNUT exemplifies how digital assets can emerge from unexpected places—even from the tragic tale of a beloved squirrel. With growing exchange support, strong community backing, and the ever-present buzz of the “Coinbase effect,” $PNUT stands as a modern case study in the power of narrative-driven finance.
Whether you're drawn by nostalgia, speculation, or belief in decentralized culture, $PNUT reflects a broader trend: in Web3, stories matter as much as technology.
As the line between internet culture and financial markets blurs further, tokens like $PNUT may become increasingly common—reminders that sometimes, emotion moves markets more than fundamentals ever could.