Viral Squirrel ‘Peanut’ Solana memecoin has sparked outrage
Memecoins, fueled by the sudden rise in popularity of “Peanut the Squirrel,” have taken Solana's decentralized finance (DeFi) markets by storm, with some tokens reaching over $120 million in market capitalization.
Mark Longo, who manages Peanut's social media account, which has more than 600,000 followers, was euthanized on October 30 when the New York Department of Environmental Protection euthanized his beloved raccoon, Fred. This follows complaints of unsafe housing for peanuts. Longo wrote on Instagram:
“Alright Internet, you win. You took one of the most amazing animals because of your selfishness. To the group of people who called DEC, there's a special place in hell for you.”
Longo first rescued the scorpion seven years ago when Peanut's mother was hit by a car. Due to injuries, Longo decided that Peanut would not survive in the wild. As a result, Longo became the caretaker, nursing Peanut back to health.
Source: Elon Musk
The incident has sparked outrage, with figures such as billionaire Elon Musk criticizing the government and calling it “mindless” and “heartless”.
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Peanuts-themed memecoins have been marketed.
The sudden popularity of peanuts has inspired memecoin creators to launch meme-based tokens based on the popular squirrel.
Peanut Squirrel memecoins on Solana. Source: Dexscreener
DeFi data tracker DexScreener reveals that several peanut-based memecoins have launched on the Solana network. Additionally, two peanut-themed memecoins have reached the top 10 tokens in Dexscreener's 24-hour charts.
A token called Peanut (PNUT), which was created two days ago, has a market capitalization of nearly $300 million and has recorded more than 200,000 transactions. The token currently has a capitalization of 100 million dollars, before the correction it was at a high level of 120 million dollars.
The same memecoin also hit the BNB Smart Chain, hitting a market cap of $80 million, recording a volume of more than $110 million.
Meanwhile, Fred-themed memecoin, based on a raccoon euthanized with peanuts, also hit the Solana memecoin markets. The first defendant, a token called Raccoon (FRED), recorded nearly 150,000 transactions and a turnover of $83 million. However, the project only has a capitalization of 8.2 million dollars.
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