Death of Famous Squirrel Sparks Scandal and Meme Coin Rally

The tragic death of the famous internet squirrel Peanut caused controversy in the USA. The owner said authorities took the animal from him and forcibly euthanized him.

The story sparked increased interest in the crypto community in Solana blockchain meme coins based on the squirrel.

Internet star Musk, who was taken from his owner, blamed the Democrats

Peanut’s owner, Mark Longo, ran a popular Instagram account sharing moments from his pet’s life. His page has more than 600,000 followers, and videos of the squirrel often go viral. Longo saved Peanut’s mother after witnessing a car crash that killed her about seven years ago. Longo decided that Peanut would not survive in the wild due to his injuries and took the squirrel under his wing.

Peanuts | Source: Instagram

However, after many anonymous complaints, the New York City Department of Environmental Protection visited his home and seized Peanut and a raccoon named Fred. Longo said the search at his farm, P’Nuts Freedom Farm, lasted five hours. It was later claimed that the animals were forcibly euthanized on suspicion of rabies.

The incident caused widespread outrage, especially among animal rights activists and ordinary people. Billionaire Elon Musk also commented on the situation, calling the actions of the authorities “crazy and cruel” and suggested voting for Donald Trump.

President @realDonaldTrump will save the squirrels 🐿️ 😢

RIP P’Nut pic.twitter.com/yoIBV0Okpd

— Elon Musk (@elonmusk) November 2, 2024

Posts in memory of Fıstık began to be made on social media; Users expressed skepticism about the rabies information, demanding that NYSDEC officials be held accountable and claiming that the squirrel lived in perfect conditions and posed no danger to humans.

Peanut meme sparks coin rally

The situation surrounding Peanut has caught the attention of the crypto community. In response to the news, tokens dedicated to this animal began to appear on the network. According to the DEX Screener platform, the number of Solana-based memecoins associated with squirrel has reached dozens.

Source: DEX Eliminator

Tracking sources report that the market value of many of these coins has rapidly increased to several million dollars. At the same time, two thematic memecoins broke into the top ten leaders in daily trading volume on DEX Screener.

One of the prominent leaders was the Peanut the Squirrel meme coin (PNUT), which reached $300 million in trading volume and 200,000 transactions in just two days. At its peak, its market capitalization was $120 million.

Peanut’s popularity also gave impetus to the emergence of similar tokens on other blockchain platforms. Thus, another Peanuts-themed memecoin emerged on BNB Smart Chain, reaching a valuation of $80 million and a transaction volume exceeding $110 million. Although it is a new token, it quickly attracted attention.

There was also a significant increase in interest in the coin dedicated to another deceased animal, Fred the Raccoon. Memecoin First Convicted Raccoon (FRED) reached $83 million in trading volume and 150,000 transactions in just a few days.

However, at the time of this writing, the excitement around meme coins has died down significantly. For example, First Convicted Raccoon (FRED) has fallen by 85% in the last 24 hours and its market cap has fallen to $106,000.

Source: DEX Screener Everything may change soon

The phenomenon of viral events being converted into blockchain assets is nothing new. However, the success of Peanut and Fred-related tokens reveals how closely the meme coin market is tied to social media trends and the public’s emotional reactions to events.

Platforms like Instagram and

However, experts warn that the upcoming US elections could unexpectedly affect the meme coin market. Analysts predict possible fluctuations as investors react to political events. Experts note that the crypto market, including niche instruments such as meme coins, often responds to changes in public sentiment caused by political factors.

Positive results for cryptocurrency supporters could increase investment and positively impact popular tokens like Dogecoin (DOGE) and Shiba Inu (SHIB). On the other hand, stricter regulations or policies that are not kind to cryptocurrencies could reduce interest in speculative investments and cause prices to fall as investors seek more reliable assets.

Unlike traditional financial instruments, meme coins are particularly vulnerable to social influences and internet settings that can change with political events. Meme coins are no exception, given their speculative nature and active community participation, as market uncertainty often leads to high price fluctuations.

As the US elections approach, crypto enthusiasts and meme coin investors will likely be more cautious about regulatory changes. Analysts advise holders of such tokens to be prepared for possible fluctuations and investors to pay attention to political signals, as they can serve as early indicators of the course of the market after the elections.