What is Peanut the Squirrel (PNUT)?

Peanut the Squirrel (PNUT) is a memecoin that emerged from the internet's fascination with viral moments and animal culture. Named after a pet squirrel whose story captured the hearts of many, PNUT has become a symbol of how internet culture can influence financial markets. Launched on the Solana blockchain, PNUT offers a unique blend of community-driven value and speculative investment. 

**Warning! It is important to DYOR (Do Your Own Research) before investing in any asset, especially new crypto projects. Don’t become “exit liquidity” for early venture capital investors, crypto influencers and large professional traders: Their job is to make money by buying into new crypto projects early, marketing the project, and then selling these coins to a mass of largely unaware public. Investing in any asset class carries tremendous risk: Crypto is no exception. Never invest more than you are completely willing to lose. ** 

The PNUT token was inspired by the story of Peanut, an Eastern gray squirrel rescued and kept as a pet in New York by Mark Longo. Peanut became a social media favorite and helped raise awareness for animal rescue. In late 2024, New York wildlife authorities seized and euthanized Peanut due to laws against keeping wild animals as pets, sparking widespread online outrage and calls for legislative change.

In response, supporters launched the PNUT token on the Solana blockchain to honor Peanut’s memory and promote animal welfare. The token quickly gained a passionate community, using memes and campaigns to raise awareness and advocate for reform. PNUT now stands as a symbol of resistance to bureaucratic overreach and a rallying point for animal lovers and activists. 

As a memecoin, PNUT primarily serves as a speculative digital asset, allowing traders to buy and sell it on various cryptocurrency exchanges. Its value is largely driven by community engagement, social media trends, and cultural relevance rather than underlying technological utility. The token's presence on the Solana blockchain ensures fast transactions and low fees, making it accessible to a wide audience. 

• Blockchain: Solana
• Launch Date: November 2, 2024
• Total Supply: 999.85M PNUT
• Market Cap: Approximately $334 million
• All-Time High: $2.47 USD on November 13, 2024 

PNUT was introduced as a Solana Program Library (SPL) token on the Pump.fun platform, without any early access, private allocations, or pre-mining, helping ensure no presales or venture capital involvement. 

• Trade and Speculate: Buy and sell PNUT on supported exchanges, participating in the memecoin market dynamics.
• Community Engagement: Join the growing community of PNUT holders and enthusiasts, sharing content and supporting animal welfare initiatives.
• Support Causes: Contribute to discussions and projects that promote awareness and advocacy for animal rights. 

• Cultural Relevance: PNUT taps into the power of internet culture and viral moments, resonating with a wide audience.
• Community-Driven: The token's value is influenced by its community, fostering a sense of belonging and shared purpose.
• Accessible Platform: Built on the Solana blockchain, PNUT offers fast and cost-effective transactions. 

Disclaimer: This article is not intended to provide investment, legal, accounting, tax, or any other advice and should not be relied on in that or any other regard. The information contained herein is for informational purposes only and is not to be construed as an offer or solicitation for the sale or purchase of cryptocurrencies or otherwise. Ndax is a member of the Canadian Investor Protection Fund (CIPF). Please refer to the CIPF for coverage qualification criteria.