The Rise of PNUT: A Tribute to Peanut the Squirrel

In the wild world of meme coins, where absurdity often reigns, Peanut the Squirrel (PNUT) stands out as a heartfelt tribute turned crypto sensation. Launched on November 5, 2024, via Solana’s Pump.fun, PNUT isn’t just another token—it’s a rallying cry for a community grieving a beloved squirrel. With a peak market cap of over $1.8 billion, it soared on emotion and social media buzz, but now trades at around $0.16 USD with a $162 million cap as of March 2025. Let’s dive into its story, from a viral tragedy to a legal battle, and see how it’s shaping up in today’s crypto landscape.

Origins: From Viral Squirrel to Meme Coin

Peanut the Squirrel, or Pnuts, was no ordinary pet. Rescued by Mark Longo in New York City after his mother was killed by a car, Peanut’s antics—wearing tiny hats, doing tricks—won hearts online, amassing a massive following. But in October 2024, New York State authorities seized Peanut and another animal, Fred the raccoon, from Longo’s care, leading to their euthanization. This sparked global outrage, with figures like Elon Musk and Congressman Nick Langworthy slamming the decision on X, amplifying the story (X post by Elon Musk, X post by Nick Langworthy).

In response, developers launched PNUT on Solana, using Pump.fun’s easy-launch model, as a tribute to Peanut and to support animal rights. With contract address 2qEHjDLDLbuBgRYvsxhc5D6uDWAivNFZGan56P1tpump, it’s a standard meme coin, no utility beyond community vibes, but its emotional hook hooked millions (Top100Token: PNUT Contract).

Market Performance: From Billions to Bumps

PNUT launch was a rocket. By mid-November 2024, it hit a $1.8 billion market cap, per CoinMarketCap Peanut the Squirrel price today, fueled by X posts and FOMO. Traders flipped bags fast, with volumes hitting $174 million in 24 hours by January 2025. But meme coins are volatile—by March 2025, it’s at $0.16 USD, with a $162 million cap, per CoinGecko Peanut the Squirrel Price. That’s a drop, sure, but it’s holding steady, ranking #230 on CoinMarketCap, with a circulating supply of 999,853,082.947 PNUT.

Community and Impact: A Movement Beyond Money

PNUT community isn’t just holding tokens—they’re holding a cause. It’s about animal rights, with plans for charitable donations and advocacy, per its official site PNUT on Solana. X is buzzing with #SavePeanut posts, and events like virtual meetups keep the vibe alive. Elon Musk’s shoutout didn’t hurt, turning PNUT into more than a coin—it’s a symbol of resilience, per Transak What Is Peanut the Squirrel.

Challenges and Legal Heat: The Pump.fun Lawsuit

Here’s where it gets messy. In January 2025, a class action suit hit Pump.fun, claiming PNUT was an unregistered security, putting investors at risk, per CryptoSlate Pump.fun Faces Lawsuit. The suit, filed in New York, says Pump.fun’s lax rules led to losses, with one plaintiff losing $231, but potentially thousands more affected. It’s a legal cloud over PNUT, with founders Alon Cohen and others named, per Decrypt Lawsuit Details. Can PNUT weather this storm? Time will tell.

Future Outlook: Nuts or Not?

PNUT future? It’s a coin with heart, but legal fights could clip its wings. The community’s pushing for more—charity tie-ins, maybe NFT drops—but without utility, it’s a meme coin’s classic gamble. As of March 13, 2025, it’s holding, but the lawsuit’s a wildcard. Will it be a lasting tribute or a faded memory? Either way, PNUT’s story is a wild ride of emotion, community, and crypto chaos.

Token Details Table

Detail	Value
Token Name	Peanut the Squirrel (PNUT)
Symbol	PNUT
Launch Date	November 5, 2024
Platform	Solana
Current Price	$0.16 USD
Market Cap	$162 million
Circulating Supply	999,853,082.947 PNUT
Peak Market Cap	$1.8 billion
Key Exchanges	Gate.io, OKX, Binance

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