Currently, a significant political topic in the U.S. revolves around the decision to euthanize a domesticated squirrel named “Peanut,” which has been deemed wild by authorities. Supporters of Donald Trump are blaming this situation on the Biden and Kamala Harris administration. In light of this event, Musk has been making frequent comments.

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An interesting aspect of the situation is the emergence of a new memecoin called “Pnut,” inspired by the squirrel named “Peanut.” Musk referred to the squirrel as “Pnut,” which led to a sudden increase in the value of the memecoin.

According to data provided by Arkham, it was found that a crypto whale purchased $95,400 worth of Pnut yesterday. However, this investor did not sell even after experiencing nearly a 50% loss in the value of their tokens within a short period. Following Musk‘s mention of Pnut, the value of the whale’s holdings surged to $1.3 million.

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The post Elon Musk Talks About the Name of a New Memecoin! appeared first on Coin Engineer.