- $PNUT token was launched in memory of Peanut the squirrel, a social media sensation, marking another quirky trend in meme crypto
- Despite high trading volumes on Solana, the $PNUT token is not expected to sustain value, losing over 90% in value post-launch
- Peanut’s passing stirred online outcry, touching on political tensions and sparking a viral, albeit short-lived, crypto reaction
There is now hardly a single public event that doesn’t come with the arrival of a new meme token. The latest occasion is the killing of Peanut, a highly celebrated squirrel on social media, which has triggered the usual degen mechanism that at least a part of the crypto enthusiasts are so fond of.
The Birth of $PNUT Token
The token is $PNUT—it’s unlikely we’ll see it on major crypto exchanges, and it’s just as unlikely that it will last more than a few days. But the news is out there—especially as it intersects with the U.S. elections.
Peanut is dead—or rather, he was killed—he sparked a wave of meme-driven outrage on social media, and now he even has his own token, though Peanut’s former owner has no involvement with the “project” itself.
RIP Peanut: The Meme Token Remembrance
The fact is that the token exists, it has recorded significant trading volume, it has been among the most traded on Solana, and no, no one should consider it a good investment opportunity.
The rituals of the crypto world may seem absurd to those unfamiliar with this realm. However, everyone processes loss in their own way, often in ways that, to outsiders, may seem improper or downright absurd.
Peanut died in a context that is actually quite political—the police intervention that first seized him and then “euthanized” his friend Fred the Raccoon—and this sparked not only indignation but also a sharp, pointed meme narrative that even touched on a few electoral themes.
All of this happened in heavily Democratic New York—and it did not go unnoticed in a political clash that now seizes any pretext.
After yesterday’s boom as the news spread, the token has already lost 90%, showing that for investors (and even bettors) these are poor initiatives. Sure, buying a few tokens to remember the event might be fine, but otherwise, it’s better to stay away.
Conclusion
This is a story like so many others we’ve seen in the crypto world and like many others we’ll encounter in the future.
