Solana Meme Coin PNUT Spikes Over 30% Amid Coinbase Listing Hype: Can PNUT Return to All Time Highs?

• Solana meme coin $PNUT surged 20% after Coinbase announced plans to list it
• $PNUT’s 24-hour trading volume reached $1.5 billion following the Coinbase listing news
• With a market cap of $1.34 billion, $PNUT has overtaken other popular meme coins like POPCAT and MOG COIN

The Solana-based meme coin, $PNUT, is making headlines in the crypto sphere, experiencing a significant surge in value following the announcement of its listing on Coinbase. This event not only positions $PNUT among the top meme coins by market capitalization, but also reflects the ongoing trend of mainstream adoption and acceptance of meme coins in the crypto market.

The Rise of $PNUT

The Solana-based meme coin, PNUT, recently experienced a remarkable 20% surge following news of its impending listing on Coinbase. This development sparked excitement among crypto enthusiasts, leading to a substantial increase in trading volume for the coin, which hit an impressive $1.5 billion.

The Trigger Behind $PNUT’s Popularity

PNUT gained significant attention after a viral incident involving the euthanization of a squirrel mascot named Peanut by the New York Department of Conservation. This incident sparked outrage on social media, which resulted in a rapid growth of the meme coin’s fanbase. In a short span of time, the coin’s market cap reached a peak of $2.4 billion.

Overtaking Other Meme Coins

Currently trading at $1.34 with a market cap of $1.34 billion, PNUT has surpassed other notable meme coins such as POPCAT and MOG COIN. This growth is a testament to the coin’s increasing popularity and acceptance among crypto investors and traders.

Coinbase’s Strategy and $PNUT’s Future Prospects

Coinbase’s decision to list PNUT aligns with the platform’s broader strategy of tapping into the growing popularity of meme coins. This move follows its recent additions of MOG COIN, MOO DENG, and PEPE. With its presence now solidified on both Binance and Coinbase, PNUT is in a strong position to extend its rally into 2025.

Conclusion

The rise of $PNUT demonstrates the potential of meme coins to disrupt the crypto market and gain significant traction among investors. As platforms like Coinbase continue to recognize and capitalize on this trend, the future for meme coins like $PNUT looks promising.