Elon Musk Sparks PNUT Meme Coin Frenzy With Viral Post, Trading Volume Doubles
PNUT, a Solana-based meme coin, has surged in popularity after Elon Musk mentioned the coin’s namesake squirrel in a late-night social media post criticizing the U.S. government and alluding to Jeffrey Epstein. Despite having no formal connection to Musk or the real-life squirrel, PNUT became the latest crypto asset swept up in Musk-driven market chaos.
In the 24 hours following Musk’s post, PNUT’s trading volume soared by more than 120%, rising from $65 million to $214 million, according to CoinGecko data.
From Squirrel Fame to Crypto Hype
Though the real “Peanut” — the squirrel that once captivated social media — has passed away, the token bearing its name continues to thrive in the crypto sphere.
Musk’s post on X (formerly Twitter) lamented the government’s decision to euthanize Peanut while failing to bring charges against alleged associates of Jeffrey Epstein.
“Government is deeply broken,” Musk wrote. “They arrested (and killed) Peanut, but have not even tried to file charges against anyone on the Epstein client list.”
The so-called “Epstein list” refers to prominent individuals rumored to be connected to Epstein’s criminal activities, though no official or verified list has been publicly released.
Speculation Fuels PNUT Rally
Musk’s comments ignited a swift market reaction. Within minutes, PNUT’s price jumped over 10% as traders rushed in, hoping to capitalize on the sudden surge in attention. The token briefly touched 23 cents before settling slightly lower.
PNUT has no real utility, technological backbone, or development roadmap. Its value comes purely from speculation and cultural trends, making it one of many meme tokens that thrive on viral moments and celebrity influence.
As long as social media and high-profile figures like Musk continue to stir conversation, meme coins like PNUT will likely stay in the spotlight, riding waves of hype and volatility—especially on platforms like X.
