Peanut the Squirrel (PNUT), a memecoin based on the Solana blockchain, has seen a remarkable price surge of 35% following an announcement from Coinbase about its upcoming listing plans. The token‘s market capitalization soared to $1.34 billion, putting it ahead of other notable memecoins such as POPCAT and MOG COIN.
How Did the Price Increase Occur?
The news from Coinbase reignited interest among crypto traders, causing PNUT’s price to rise to $1.35 within just 24 hours. This spike reflects a growing enthusiasm in the market.
According to data from CoinMarketCap, PNUT’s trading volume skyrocketed to $1.5 billion during this timeframe. The surge is attributed to a viral incident involving a squirrel mascot named Peanut on social media, which previously drove its market valuation up to $2.4 billion.
What Other Memecoins Are Being Listed?
In addition to PNUT, Coinbase has announced support for other memecoins, including ME from Magic Eden, Turbo (TURBO), and Gigachad (GIGA). Trading for TURBO and GIGA began today, further diversifying the offerings on the exchange.
- PNUT’s price increase to $1.35 represents strong market confidence.
- The trading volume reached $1.5 billion, indicating heightened activity.
- Coinbase’s listing strategy is significantly impacting the memecoin market dynamics.
- Other memecoins like TURBO and GIGA are also gaining traction on the platform.
The news surrounding PNUT’s potential Coinbase listing highlights its emerging role within the memecoin sector. Traders are closely monitoring these developments, as they provide critical insights into the performance trajectory of memecoins moving forward.