Solana-based meme coin Peanut the Squirrel (PNUT) surged over 10% after Elon Musk criticized U.S. authorities on X.
By Bhushan Akolkar
Editor Hamza Tariq
Updated
2 mins read
Meme coin Peanut the Squirrel PNUT $0.21 24h volatility: 5.1% Market cap: $211.57 M Vol. 24h: $104.45 M , named after the viral squirrel named Peanut, is once again in the limelight, surging over 7% to $0.235 earlier today following Elon Musk’s recent tweet.
The daily trading volume for PNUT has shot up by 150% to more than $257 million, showing strong bullish sentiment for the meme coin.
Solana-based meme coin PNUT surged more than 10% late Tuesday following a viral post from Elon Musk, reigniting speculative mania in crypto markets. The Tesla and SpaceX CEO criticized U.S. authorities for euthanizing “Peanut,” a squirrel that recently gained internet fame, while also taking aim at the government’s failure to prosecute individuals linked to Jeffrey Epstein’s alleged client list.
They arrested (and killed) Peanut, but have not even tried to file charges against anyone on the Epstein client list.
Government is deeply broken. pic.twitter.com/YndRadQUBE
— Elon Musk (@elonmusk) July 8, 2025
Musk’s post, shared on his social media platform X, triggered an immediate uptick in trading activity for PNUT. On-chain data also revealed a sharp increase in both trading volume and price within minutes of the mention.
Despite having no protocol, utility, or roadmap, PNUT continues to gain traction in the crypto space.
The token sees volatile moves amid the social media excitement and trending discussions in the market. The recent tweet by Elon Musk, and the PNUT rally soon after is a testament to it.
Following Elon Musk’s tweet, the PNUT futures open interest has surged by 14% to $132 million, as per the Coinglass data. The increase in the open interest highlights strong trader sentiment for the squirrel-themed meme coin. Some market analysts also believe that the rally is likely to continue from here onwards.
Solana SOL $149.3 24h volatility: 1.2% Market cap: $79.99 B Vol. 24h: $4.32 B meme coin PNUT may be positioning for a significant continuation rally, according to crypto analyst Javon Marks, who highlighted a potential 654% upside move toward the token’s projected breakout target of $1.7907.
In a post on X, Marks noted that the setup suggests strong bullish momentum remains in play, with technical indicators pointing to the possibility of an extended leg higher.
$PNUT (Peanut The Squirrel) can be setting up here to deliver a major continuation within an over 654% uphill run towards the $1.7907 BREAKOUT TARGET which is IN PLAY 🔥! https://t.co/vUkSWC2ftd pic.twitter.com/BgLcjJb805
— JAVON⚡️MARKS (@JavonTM1) July 9, 2025
Meanwhile, Bitcoin also saw gains following an endorsement from Tesla CEO Elon Musk, with market observers calling it a major moment for the broader crypto ecosystem.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
