Originally published on: November 03, 2024
The internet sensation created by Peanut the Squirrel has taken the world by storm, particularly in the world of decentralized finance (DeFi) markets on Solana. With some tokens boasting market capitalizations exceeding $120 million, the craze around Peanut is showing no signs of slowing down.
Mark Longo, the mastermind behind Peanut’s social media presence, shared a heartbreaking story on Instagram about how New York’s Department of Environmental Conservation confiscated and euthanized Peanut and his raccoon companion, Fred. This tragic event has sparked outrage, with even billionaire Elon Musk denouncing the government’s actions as “mindless” and “heartless.”
In response to Peanut’s untimely demise, memecoin creators have leaped into action, launching meme-based tokens inspired by the beloved squirrel. These Peanut-themed memecoins on Solana have quickly risen in popularity, with some even securing spots in the top 10 tokens on DeFi data tracker Dexscreener’s charts.
One such token, Peanut the Squirrel (PNUT), saw a staggering $300 million in volume and over 200,000 transactions within just two days of its launch. While experiencing a slight correction, PNUT still commands a market capitalization of $100 million. Similarly, a Fred-themed memecoin on the BNB Smart Chain reached a market cap of $80 million with a trading volume surpassing $110 million.
As the world mourns the loss of Peanut and Fred, their legacy lives on in the form of these memecoins that continue to captivate the DeFi markets. Join the frenzy and discover the latest trends in the world of memecoins inspired by these beloved creatures.
