Pnut Token Inspired by Peanut the Squirrel Briefly Surges to $125 Million Market Cap After Elon Musk Tweet

The meme coin was inspired by a viral news strory about New York officials confiscating and euthanizing Peanut the Squirrel, a pet squirrel with a significnat socia media following.

A social media post by Tesla CEO Elon Musk has helped propel the market capitalization of the squirrel-themed Pnut token to a peak of roughly $125 million, according to data provided by DEXscreener.

The meme coin was inspired by a viral news story about Peanut the Squirrel, a pet squirrel with a substantial social media following, being confiscated and euthanized by New York officials.

Mark and Daniela Longo, the squirrel's owners, went viral with their tearful TikTok video, in which they criticized the authorities for taking away their beloved pet.

The story has garnered a lot of attention on social media and sparked a backlash from the public (particularly among right-wing individuals).

Musk also joined the conversation by quoting Obi-Wan "Ben" Kenobi, a well-known character from the Star Wars franchise, and playfully attributing the quote to "Obi PNut Kenobi." The quote featured an AI-generated image of a squirrel dressed as a Jedi.

“If you strike me down, I will become more powerful than you could possibly imagine” Obi PNut Kenobi pic.twitter.com/dD2Xo0fSkr

New Yorkers are required to obtain a specific permit if they want to own a wild animal.

The squirrel was confiscated due to public health concerns as they can potentially transmit rabies (even though such cases tend to be very rare).

The latest viral story has attracted the attention of opportunistic meme coin enthusiasts, who decided to capitalize on it with the Pnut meme coin.

According to data provided by cryptocurrency analytics firm Lookonchain, a whale recently spent as much $831,000 in order to purchase 8.99 million Pnut tokens.

At press time, the token is valued at $90.5 million after giving up some Musk-driven gains.

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