Emre Yumlu 
While new memecoin projects emerge every day in the cryptocurrency market, the vast majority are built on short-term interest and speculative profit expectations. However, some projects go beyond merely being a financial instrument and take shape around a powerful story. Peanut the Squirrel (PNUT) stands out precisely as one of these projects.
Unlike classic internet humor-fed memecoins, PNUT has drawn attention in the crypto world as a token inspired by a real event and centered on societal sensitivity. Behind the project lies the tragic story of a squirrel that became an internet phenomenon and the global resonance this story created.
What is Peanut the Squirrel (PNUT)?
Peanut’s story began in 2017 when Mark Longo, living in New York state in the USA, rescued an injured eastern gray squirrel. After unsuccessful attempts to release it back into nature, the squirrel was adopted by Longo and named “Peanut.”
Over time, Peanut reached a wide audience thanks to videos and photos shared on social media. Its cute behaviors and bond with Longo transformed Peanut from an ordinary pet into an internet phenomenon. Quickly gaining hundreds of thousands of followers, Peanut became a symbolic figure raising awareness, especially on animal rights.
This popularity paved the way for Peanut to be used not only in the digital world but also as a symbol in social projects aimed at animal welfare. Over time, Peanut became the face of “Peanut’s Freedom Farm,” an animal sanctuary, contributing to the protection of hundreds of animals.
Tragic End and Societal Reaction
Peanut’s story came to an unexpected and controversial end in October 2024. The New York State Department of Environmental Conservation took Peanut from Mark Longo’s home for various reasons. During the process with authorities, it was claimed that Peanut bit an official, leading to the decision to euthanize the animal due to rabies risk.
This development sparked a huge reaction among the wide audience that had followed Peanut for years. The event quickly became trending on social media, with many evaluating the process as “disproportionate intervention” and “abuse of authority.” The discussion that began around animal rights, public authority, and individual freedoms extended to the crypto world.
The Birth of PNUT Memecoin
The societal reaction that emerged after Peanut’s death quickly reflected into the crypto ecosystem. In this process, to keep Peanut’s memory alive and turn what happened into a symbolic protest, the memecoin named Peanut the Squirrel (PNUT) was launched.
PNUT was released on the Solana blockchain in November 2024. The project was developed by an anonymous team and launched with the “fair launch” model commonly seen in the memecoin world. Being introduced to the market without any private sales, pre-mining, or investor privileges increased trust in the project within the community.
PNUT’s core motivation is positioned not just as price movements; but to keep Peanut’s story alive, create awareness on animal welfare, and build a community-based ecosystem.
On Which Blockchain Does PNUT Operate?
The PNUT token was developed on the Solana network. The main reasons for choosing Solana include:
- Low transaction fees
- High transaction speed
- Broad DeFi and NFT ecosystem
- Infrastructure suitable for memecoin projects
Thanks to this infrastructure, PNUT quickly began trading on decentralized exchanges and experienced rapid growth in liquidity.
PNUT Tokenomics
PNUT’s token structure offers a quite simple and transparent model for memecoin projects:
- Total supply: 1,000,000,000 PNUT
- Network: Solana
- Distribution model: Fair launch
- Liquidity: 100% allocated to liquidity
- LP status: Liquidity burned (LP Burned)
This structure creates a system that does not allow the project team to sell tokens later or manipulate the market.
Vesting:
PNUT’s Rapid Rise
Shortly after its launch, PNUT began attracting great interest on social media. The story of Peanut stood out as the most important factor distinguishing the project from other memecoins. With community support, the token quickly gained trading volume on decentralized exchanges in the Solana ecosystem.
Initially surpassing the hundred million dollar level in market value, PNUT reached a much wider investor base with its listing on centralized exchanges. Especially after being listed on a major global exchange, PNUT’s market value quickly exceeded the 1 billion dollar level.
During this process, intraday movements exceeding 300% in token price made PNUT one of the most talked-about memecoin projects of the period.
Elon Musk and the Influence of Public Opinion
Public interest in Peanut’s story played a significant role in increasing PNUT’s popularity. Especially Elon Musk’s posts on the social media platform X ensured that the event was not limited to crypto circles.
Musk’s posts criticizing what happened in terms of government intervention and animal rights contributed to PNUT being recognized by a much wider audience. This situation once again demonstrated how decisive story, timing, and public interest can be in memecoin projects.
Does PNUT Have Any Use Cases?
Although PNUT is primarily positioned as a community-focused memecoin, some use cases have been developed over time:
- Payment tool in community donations and events
- Integration with some NFT and game projects in the Solana ecosystem
- Campaigns aimed at animal welfare awareness
These use cases aim to ensure that PNUT goes beyond merely being a speculative asset.
Peanut the Squirrel (PNUT) Team
PNUT was developed in 2024 by an anonymous team. As in many meme coin projects, the PNUT team is also anonymous.
Official Links
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