Key Takeaways
- PNUT token surged 30% following its buying and selling debut on Coinbase.
- The token stays 74% beneath its 2024 November peak regardless of current features.
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Solana-based meme token Peanut the Squirrel (PNUT) jumped 30% following its buying and selling debut on Coinbase, with the worth rising from $0.46 to $0.6, CoinGecko data exhibits.
Coinbase will add help for Peanut the Squirrel (PNUT) on the Solana community (SPL token). Don’t ship this asset over different networks or your funds could also be misplaced. Transfers for this asset can be found on @Coinbase & @CoinbaseExch within the areas the place buying and selling is supported.
— Coinbase Property 🛡️ (@CoinbaseAssets) January 13, 2025
Buying and selling volumes for PNUT exceeded $761 million within the first 24 hours after Coinbase started providing the token on January 14. The itemizing announcement follows Coinbase’s addition of PNUT to its roadmap final month, which triggered a 20% price increase on the time.
Tokens listed on crypto exchanges like Coinbase, Binance, or Upbit typically see value surges resulting from elevated visibility and investor curiosity. PNUT beforehand noticed a 280% surge inside 24 hours of its Binance itemizing announcement.
Nonetheless, the meme coin at the moment trades 74% beneath its November peak, when its market capitalization surpassed $2 billion. The asset has since dropped out of the highest 100 crypto belongings by market worth.
PNUT emerged on the pump.enjoyable memecoin platform following viral protection of a pet squirrel named Peanut, whose euthanasia by New York Metropolis’s Division of Environmental Conservation officers generated widespread social media consideration, together with reactions from Elon Musk and Donald Trump.
The value motion got here amid a broader crypto market restoration after a Monday report from Washington Submit stated President-elect Donald Trump will prioritize the crypto industry on his first day of presidency via government orders.
Bitcoin briefly reclaimed $97,000 following the report and is at the moment buying and selling round $96,700, a 5% achieve within the final 24 hours, per CoinGecko.
Ethereum noticed a 7% surge over the identical interval, whereas Ripple and Dogecoin soared 9% and 11%, respectively. Many Solana-based meme cash and AI agent tokens additionally posted double-digit features.
The crypto markets, nonetheless, appeared largely unaffected by the lower-than-anticipated US Producer Value Index (PPI) information revealed this morning. December’s month-to-month PPI got here in at 0.2%, beneath the estimated 0.3%, whereas the annual charge reached 3.3%, beneath the projected 3.4%.
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