PNUT, a meme coin inspired by Peanut the Squirrel, skyrocketed more than 200% on 14th Nov after Elon Musk referenced a “squirrel and a meme coin” in a recent post about saving America. Musk’s playful remark quickly sparked excitement on social media, causing a trading surge for this Solana-based token.

As a result of its connection to Musk’s humorous posts, PNUT is now trending as the latest popular meme coin. Within 24 hours, its trading volume spiked to over $2 billion as investors eagerly joined.

Musk’s Post on PNUT Boosts Popularity

In a recent post on X, Musk humorously noted, “America was saved by a squirrel and a meme coin!” This playful engagement has sent ripples through the crypto market, leading to an instant price surge for PNUT. 

Musk’s comment followed his response to a Rabbit Hole post, where he shared an image of PNUT amidst controversy about government spending on certain research. Musk’s history with meme coins like Dogecoin and Shiba Inu has often spurred significant price increases, showing his ongoing influence on the meme coin market. 

The Rise of PNUT and Solana Meme Coins

PNUT, operating on the Solana blockchain, is now priced at $1.73, marking a more than 1256.78% rise in the last 7 days hours. Over the past week, PNUT reached a high of $2.43 with a trading volume surpassing $1.61 within 24 hours.

Interest in Solana-based meme coins is also growing. Other tokens, like ACT, saw a massive 2,700% weekly gain, and Bonk rose by 50%, trading at $0.00003. As excitement builds around Solana meme coins, some speculate that BONK could eventually reach $0.1, fueling further anticipation.