As a seasoned crypto investor with a knack for spotting trends and a soft spot for internet sensations, I must admit that the rise of PNUT on OKX has piqued my interest. Having witnessed the meteoric rise of Dogecoin and Shiba Inu, I can’t help but see parallels between these meme coins and PNUT.
Just moments after its debut on the platform, the OKX exchange introduced a meme coin called PNUT, inspired by the popular squirrel and peanut meme. Remarkably, this squirrel-themed token has already seen an increase of almost 9%.
On November 11th at 10:30 AM UTC, OKX, a major centralized exchange by trade volume, has revealed that it will be listing the meme coin Peanut the Squirrel (PNUT) on its platform. This Solana-backed meme coin can now be traded against Tether (USDT).
Five minutes following OKX’s announcement about PNUT’s debut, the meme coin experienced an increase of 8.42% and is now being exchanged at approximately $0.4489, as per information from DEX Screener. Currently, the market capitalization of the PNUT token stands close to $450 million, while its fully diluted trading volume amounts to roughly $448.6 million.
Just a short while after Binance announced that PNUT would go live on their platform at 10:00 AM UTC on November 11, it was quickly followed by its launch on OKX. The extraordinary surge in the price of PNUT over the last day can be attributed primarily to this Binance listing, as well as the debut of another popular meme coin called Act 1: The AI Prophecy or ACT.
Based on OKX’s recent announcement, depositing PNUT is now possible starting from November 11 at 9:20 UTC. During this time, the call auction period will be in effect, running from November 11 9:40 AM UTC to 10:40 AM UTC.
Beginning November 12, 10:00 PM UTC, traders will be able to withdraw their PNUT tokens. At present, the total circulation of PNUT tokens stands at approximately 999.8 million units, as reported by the cryptocurrency exchange.
The cryptocurrency based on the PNUT meme, which emerged in early November, followed closely after the passing of the popular internet squirrel character, Peanut. On October 30th, Peanut was taken from its owner, Mark Longo’s home by New York City authorities due to allegations made anonymously.
It’s been claimed that the New York State Department of Environmental Conservation (NYSDEC) put down a squirrel named Peanut, which sparked a wave of protest from animal rights activists, common people, and even Elon Musk, who viewed the incident as an example of excessive government intervention.
In a heartfelt gesture, members of the cryptocurrency community created various meme coins as a tribute to Peanut. The most prominent among these is the PNUT coin, built on Solana, which saw a trading volume of $300 million and 200,000 transactions within merely two days of its launch.
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2024-11-11 14:52