PNUT rises nearly 9% after debut on OKX platform

Cryptocurrency exchange OKX recently launched the viral squirrel peanut-inspired meme coin PNUT on its platform. The squirrel token is surging by nearly 9% just minutes after OKX’s launch.

OKX, one of the largest centralized exchanges by trading volume, announced that it has added the Peanut the Squirrel (PNUT) meme coin to its platform. Solana-based memecoin will be available for spot trading with Tether(USDT) starting at 10:30 UTC on November 11.

Five minutes after OKX announced the launch of PNUT, the meme coin rose 8.42% and is currently trading at $0.4489, according to data from DEX Screener. At the time of this writing, the PNUT token had a market cap of approximately $450 million and a fully diluted volume of $448.6 million.

PNUT’s launch on OKX comes just hours after Binance announced that PNUT will make its debut on the platform on November 11 at 10:00 UTC. In the past 24 hours, PNUT’s price has skyrocketed by 332% as Binance listed it alongside another viral meme coin, Act 1: The AI ​​Prophecy (also known as ACT).

PNUT price chart minutes after its launch on crypto exchange OKX, November 11, 2024 | Source: DEX Eliminator

According to OKX’s announcement, investors will be able to start depositing PNUT starting from the opening time of November 11, 9:20 UTC. Meanwhile, the purchase auction period begins on November 11 from 09:40 UTC to 10:40 UTC.

However, investors can only start withdrawing the PNUT token after 22:00 UTC on November 12. The crypto exchange states that the total issuance for PNUT is currently 999.8 million tokens.

The PNUT meme coin was released in early November, shortly after the death of the viral internet squirrel Peanut. On October 30, New York City seized Peanut from owner Mark Longo’s home following anonymous complaints.

NYSDEC’s alleged euthanasia of Peanut caused a public outcry among animal rights activists and ordinary people, including Elon Musk, who viewed the squirrel as a symbol of unnecessary government intervention.

The crypto community paid tribute to Peanut by creating several meme coins in his honor. The leading Peanut meme coin is Solana-based PNUT, which reached $300 million in trading volume and 200,000 transactions in just two days.