Peanut the Squirrel (PNUT) Explodes 30% Daily as Coinbase Trading Begins – Details

TL:DR;

The popular meme token has resumed its bull rally after it came to an abrupt halt at the end of last year, soaring by double digits on a daily basis. The latest price move came after support from the largest crypto exchange in the United States.

PNUT was born a couple of months ago after a pet squirrel named Peanut was euthanized in New York State. Based on the Solana blockchain, the token quickly gained attention and its price soared by three and even four digits at one point.

The culmination came in mid-November after it was listed on Binance when it soared to an all-time high of $2.44. Since then, however, the asset has lost its momentum and fell to $0.47 yesterday, losing nearly 80% of its value since that peak.

However, the last 24 hours have been particularly positive for the asset, as it bounced back from double-digit lows to break above $0.6 for the first time in a few weeks.

This came after a favorable interaction with the largest crypto exchange in the United States – Coinbase. The team announced adding support for the meme token on the Solana network and trading began less than an hour ago (9am PT).

Coinbase will add support for Peanut the Squirrel (PNUT) to the Solana network (SPL token). Do not send this asset to other networks or your funds will be lost. Transfers of this asset are available at @Coinbase & @CoinbaseExch in regions where trade is supported.

— Coinbase Assets ️ (@CoinbaseAssets) January 13, 2025

The team also warned users to be careful when transferring funds, as Coinbase will initially support PNUT only in Solana.

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