Coinbase to list Peanut the Squirrel (PNUT) on Solana

Coinbase announced support for meme coin Peanut the Squirrel.

Trading support for the Squirrel Nut (PNUT) token on the Solana (SOL) network will begin at 9:00 a.m. PT on January 14, 2025, liquidity conditions permitting, the exchange said.

“Trading on our PNUT-USD trading pair will begin gradually once sufficient supply of this asset is ensured. Coinbase wrote that PNUT support may be restricted in some supported jurisdictions.

Token transfers for Meme coin are now available on both Coinbase and Coinbase Exchange, with availability dependent on regional trading support.

PNUT’s listing on the US-based exchange comes about a month after Coinbase added it to its listing roadmap. The exchange signaled that the listing would take place in early December.

The Squirrel Nut meme coin came into the spotlight in November 2024 following the controversial killing of a pet squirrel. The incident sparked outrage and disbelief and soon led to the emergence of meme money and took crypto Twitter by storm. PNUT reached its all-time high of $2.47 on November 14.

However, the token has seen a significant decline amid the recent downturn in the broader crypto market. On January 13, 2025, PNUT fell to the lows of $0.46 as Bitcoin revisited the $90,000 level and Ethereum fell below $3,000 due to increased selling pressure.

PNUT, which has lost 79 percent of its value since its all-time high, lost 13 percent in the last 24 hours and 30 percent in the last month. Meme coin was trading around $0.51 following the Coinbase announcement.