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Author: Ezra Reguerra, CoinTelegraph; Compiled by: Deng Tong, Bitchain Vision
With the sudden popularity of “Peanut the Squirrel”, Memecoins has entered the Solana decentralized finance (DeFi) market, with some tokens even capping over $120 million.
Mark Longo is the owner of a Peanut social media account with over 600,000 users.On October 30, the New York Department of Environmental Protection seized the popular squirrel and a raccoon named “Fred” and euthanized them.Longo wrote on Instagram:
“Well, the internet, you won. Because of your selfishness, you took one of the most amazing animals from me. For those who call DEC, there is your exclusive location in hell.”
Longo said he first saved the squirrel about seven years ago when he saw Peanut’s mom get hit by a car.Due to injuries, Longo believes that Peanut cannot survive in the wild.So Peanut takes care of him to recover and becomes his caregiver.
Source: Elon Musk
The incident sparked public outrage, with figures such as billionaire Elon Musk criticizing the government, calling it “blind” and “ruthless”.
Peanut theme memecoin login to the market
The sudden popularity of Peanut prompted memecoin creators to launch meme tokens based on popular squirrels.
Peanut the Squirrel memecoin on Solana.Source: Dexscreener
Dexscreener, a DeFi data tracker, shows that several Peanut-based memecoins have been launched on the Solana network.In addition, two Peanut-themed memecoin have entered the top 10 tokens for the Dexscreener 24-hour chart.
The token volume, called Peanut the Squirrel (PNUT), issued two days ago, was close to $300 million, recording more than 200,000 transactions.The token currently has a market capitalization of $100 million, reaching a peak of $120 million before it experienced a pullback.
Similar memecoin has also logged into the BNB smart chain, with a market value of US$80 million and a transaction volume of more than US$110 million.
Meanwhile, a Fred-themed memecoin based on the euthanized raccoon by Peanut has also landed on the Solana memecoin market.A token called First Convicted Raccoon (FRED) recorded nearly 150,000 transactions with a transaction volume of $83 million.Nevertheless, the project has a market capitalization of just $8.2 million.
