Peanut the Squirrel (PNUT) is a Solana memecoin that launched on October 29, 2024, following the viral news story of Peanut, a pet squirrel owned by Mark Longo of New York that was seized and euthanized by the New York State Department of Environmental Conservation (DEC) — a story amplified by Elon Musk on X (Twitter) that triggered one of the fastest-growing memecoin launches in Solana’s history, reaching a peak market cap above $2 billion within days of launch.
| Stat | Value |
|---|---|
| Ticker | PNUT |
| Price | $0.05 |
| Market Cap | $54.01M |
| 24h Change | +22.6% |
| Circulating Supply | 999.84M PNUT |
| Max Supply | 1.00B PNUT |
| All-Time High | $2.44 |
| Contract (Solana) | 2qEHjD...pump |
How It Works
PNUT is a standard Solana SPL token with no inherent utility beyond its memecoin status. It was launched via Pump.fun — Solana’s memecoin launchpad — and follows the same mechanics as other Solana memecoins:
- Pump.fun launch — PNUT launched on Pump.fun with a bonding curve mechanism. Early buyers acquire tokens at lower prices; as buying pressure increases, the price rises along the curve until liquidity migrates to Raydium.
- Raydium liquidity — Once bonding curve graduation occurs, PNUT migrates to Raydium (Solana’s primary DEX) for open trading.
- No team allocation (claimed) — Like most Pump.fun memecoins, PNUT launched without a formal team allocation, though early buyers can accumulate significant holdings.
- Speculation-driven — PNUT has no protocol utility, staking, or DeFi integration. Value is entirely narrative and speculation-driven.
Tokenomics
| Parameter | Value |
|---|---|
| Ticker | PNUT |
| Max Supply | 1,000,000,000 (1 billion) |
| Chain | Solana |
| Launch platform | Pump.fun |
| Launch date | October 29, 2024 |
| Peak market cap | ~$2+ billion (November 2024) |
| Utility | None — memecoin |
Use Cases
- Speculation — Purely speculative trading asset.
- Cultural/political expression — PNUT was used as a vehicle for expressing opposition to the perceived government overreach of euthanizing a pet squirrel, amplified by Elon Musk’s platform.
History
- Pre-launch — Mark Longo, a New York content creator, kept a pet squirrel named Peanut for years, documenting it on social media (over 700,000 Instagram followers).
- 2024-10 — The New York DEC seizes and euthanizes Peanut (and a racoon named Fred) after a rabies-exposure complaint. The story goes viral.
- 2024-10-29 — Elon Musk posts about Peanut on X, including “RIP PNUT,” reaching millions of followers. Crypto traders immediately launch PNUT memecoin on Pump.fun.
- 2024-10-29 to 2024-11 — PNUT surges from near-zero to a peak market cap above $2 billion within days. It becomes one of the fastest-growing memecoins in Solana’s history.
- 2024-11 — PNUT is listed on major centralized exchanges including Binance and Coinbase, further accelerating trading volume.
- 2024-11 onward — PNUT falls significantly from its peak as speculative interest wanes. Retains a community but with dramatically reduced valuation.
Common Misconceptions
“PNUT has any affiliation with Mark Longo or official support from people involved in the Peanut story.”
PNUT was created anonymously by crypto traders capitalizing on the news story. It has no official affiliation with Mark Longo or any organized group related to the actual squirrel story.
“PNUT is backed by any project or team.”
PNUT is a pure memecoin with no development team, roadmap, or technical foundation beyond being a standard Solana SPL token.
Social Media Sentiment
PNUT generated massive viral engagement in October–November 2024, propelled by Elon Musk’s posts and anti-government sentiment following the squirrel’s euthanization. Exchange listings on Binance and Coinbase validated its speculative legitimacy. As with all memecoins, sentiment is entirely narrative-driven; long-term holders from near-peak suffered significant losses.
Last updated: 2026-04