Strong Debut with Price Surge The PNUT meme coin, inspired by “Peanut the Squirrel,” launched on OKX exchange, quickly gaining traction. Minutes after its debut, PNUT’s price surged nearly 9%, reflecting strong market interest. Built on the Solana blockchain, the token’s listing on OKX, one of the largest crypto exchanges by trading volume, further boosted its visibility.
OKX officially announced the PNUT listing on November 11, with spot trading against Tether (USDT) starting at 10:30 AM UTC. Within just five minutes, PNUT’s price spiked 8.42%, reaching $0.4489, as reported by DEX Screener. Currently, PNUT’s market capitalization stands at approximately $450 million, with a fully diluted trading volume of $448.6 million.
Dual Listing Fuels Massive Price Rally
The listing on OKX coincided with Binance’s announcement to list PNUT on the same day. Trading on Binance began at 10:00 AM UTC, just before OKX’s launch. This dual exchange listing sparked significant excitement, driving PNUT’s price up 332% in 24 hours. The surge was partly fueled by interest in another popular meme coin, ACT (Act 1: The AI Prophecy), which launched on the same day.
OKX provided a detailed listing schedule for PNUT’s rollout. Deposits opened at 9:20 AM UTC on November 11, with a call auction period from 9:40 AM to 10:40 AM UTC. Users can’t withdraw PNUT tokens until after 10:00 PM UTC on November 12. OKX confirmed that PNUT’s total supply is capped at 999.8 million tokens.
Tribute to Peanut the Squirrel PNUT’s origin story traces back to the viral “Peanut the Squirrel,” whose death caused public outrage. On October 30, New York City authorities seized Peanut from its owner, Mark Longo, after anonymous complaints. Reports revealed that the New York State Department of Environmental Conservation (NYSDEC) euthanized the squirrel, sparking protests from animal rights groups and public figures, including Elon Musk. Critics viewed the act as an unnecessary display of government intervention.
In response, the cryptocurrency community launched several meme coins to honor Peanut, with PNUT becoming the most prominent. Within two days of its release, PNUT achieved $300 million in trading volume and processed over 200,000 transactions, highlighting its rapid rise to prominence.