Euthanized Squirrel Memecoin, PNUT Make Many Millionaires Overnight
$Pnut Rise lies in the heartwarming tale of ``Pnut the squirrel``, rescued from a car accident by Mark Longo and subsequently cherished by a massive online community captivated by its charm.
Pnut memecoin´s market cap exceeded $120M, making many traders millionaires overnight. The memecoin named after a squirrel tragically euthanized by the New York State Department of Environmental Conservation (DEC) made traders millions.
A Little Background
The genesis of $Pnut lies in the heartwarming tale of Pnut the squirrel, rescued from a car accident by Mark Longo and subsequently cherished by a massive online community captivated by its charm.
The narrative took a tragic turn when DEC intervened, citing “unlawfully possessed” animals and ultimately euthanizing Pnut for rabies testing. This sparked widespread condemnation, with public figures joining the chorus of voices denouncing the DEC’s actions.
Pnut’s death resonated with the collective grief and outrage over similar incidents, most notably the 2016 shooting of Harambe, a gorilla at the Cincinnati Zoo. The Harambe incident birthed a memecoin, $Harambe, which rapidly achieved a market cap of $80 million, fueled by the viral spread of the story.
The parallels between Pnut and Harambe were not lost on the internet, and soon, a $Pnut memecoin emerged, mirroring the trajectory of its predecessor. The coin’s creator, initially unknown, injected $2 worth of SOL (Solana) into the project and swiftly sold his holdings, pocketing a hefty profit of around $73,000.
Whales Investments Dictate Pnut Surge
Nonetheless, Pnut’s story continued to garner widespread media attention, propelling the $Pnut market cap to a staggering $8 million within a day, a feat facilitated by the virality of the story and a powerful confluence of social media factors.
Elon Musk, the tech entrepreneur and social media heavyweight, became a key catalyst in the coin’s meteoric rise. He shared multiple Pnut-related posts, even pinning one to the top of his Twitter profile. These actions, coupled with the involvement of the Dogecoin community, further propelled $Pnut into the public consciousness.
The $Pnut ecosystem appears healthy, with no discernible connections between most large holders, suggesting a decentralized distribution.
The emergence of whales, or large investors, further solidifies the coin’s momentum, with a recent whale purchase exceeding $1.56 million in SOL, encompassing both $Pnut and $FRED, another memecoin associated with Mark Longo’s rescued animals.
