Elon Musk’s Squirrel Joke Sends PNUT Token Soaring 10% 🐿️🚀

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Amid the cacophony of social media, a peculiar tweet from the billionaire Elon Musk sent ripples through the crypto world, much like a stone thrown into a pond of digital currencies. On a Tuesday, Musk, with his characteristic blend of wit and provocation, took aim at the US authorities for their handling of the Jeffrey Epstein case, quipping, “More squirrels and raccoons have been arrested than any Epstein affiliates.” 🐿️🦝

This offbeat commentary, which included a nod to a squirrel named Peanut—allegedly “arrested (and killed)”—coincided with a sudden surge in the value of the PNUT token, a Solana-based cryptocurrency. According to on-chain data, PNUT climbed over 10% in just 24 hours, reaching a high of $0.23 at one point. The crypto community, always quick to react, saw this as a sign to jump on the bandwagon.

Musk’s post, which garnered over 13.7 million views within hours, was the catalyst that traders needed. The PNUT ticker, previously a quiet corner of the crypto market, suddenly became the center of attention. The price of PNUT rose from about $0.22 to $0.23 almost instantaneously, as if the market was responding to a well-rehearsed cue.

The 24-hour trading volume of PNUT jumped by roughly 80%, crossing $215 million. Market watchers estimate that PNUT’s market cap now sits near $224 million, out of a total supply approaching 1 billion tokens. The crypto world, ever the stage for the absurd, found itself in the midst of a new meme-driven frenzy.

Market Reaction Follows Viral Meme

Meme tokens, by their very nature, thrive on hype, and PNUT was no exception. After Musk’s message spread, order books filled up rapidly. Buy orders outnumbered sells, driving the price momentum. Crypto bots and retail traders, always on the lookout for the next big thing, piled in, hoping to catch the wave. Some investors, in interviews with reporters, admitted to moving funds into PNUT within minutes of seeing Musk’s post.

They arrested (and killed) Peanut, but have not even tried to file charges against anyone on the Epstein client list.

Government is deeply broken.

— Elon Musk (@elonmusk) July 8, 2025

Solana’s speedy network, known for its low fees and fast transaction times, played a crucial role in the PNUT rally. Traders could react almost instantly, without the usual delays and high gas costs that plague other blockchain networks. This environment, where hype can quickly translate into action, saw the trading volume of PNUT spike from around $120 million to $214 million in less than a day.

Looking Ahead, Caution Advised

Despite the frenzy, seasoned crypto veterans are warning that PNUT’s gains could be as fleeting as they were sudden. Meme tokens, by their very nature, lack the fundamental underpinnings that more established cryptocurrencies enjoy. Hype, as we all know, can fade just as quickly as it arises. Traders could find themselves on the wrong side of the market if the mood shifts or if Musk moves on to his next viral joke.

For now, Musk’s satirical jab has put Peanut the Squirrel on center stage. Whether PNUT can hold its gains may depend on more viral moments—and on whether investors remember to take profits before the next twist. After all, in the world of crypto, the only constant is change.

No ‘Client List’

Meanwhile, a memo obtained by Axios reveals that the Justice Department and FBI, under the Trump administration, found no evidence that convicted sex offender Jeffrey Epstein had blackmailed powerful individuals, kept a “client list,” or was murdered. The truth, it seems, is often more mundane than the conspiracy theories that swirl around it.

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2025-07-09 18:45