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Journalist
Hassan Shittu
Journalist
Hassan Shittu
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The current bull market has been favoring meme coins like Dogecoin. They continue to drive waves of excitement and rapid speculation, and the latest to join this frenzy is PNUT, a new Solana-based meme token inspired by the whimsical Peanut the Squirrel.
This token has skyrocketed by over 1300% in less than 7 days, reaching a high of $2.07 and catapulting its market capitalization beyond the $2 billion mark.
The surge follows a series of tweets by Elon Musk that many investors have interpreted as a nod to PNUT’s cultural significance.
With Elon pushing the narrative like he did with Dogecoin, is this the next Doge?
Peanut Price is Up 300%: Rumors Had It This is the Next Dogecoin
The excitement began when Musk responded to a post criticizing government inefficiencies with a peanut emoji, hinting at simple, grassroots solutions to complex issues.
Shortly after, he commented on how America was “saved by a squirrel and a meme coin,.”
This fueled investor interest in PNUT and resulted in a price and trading volume surge.
The coin’s association with the popular “Peanut the Squirrel,” a figure that attracted widespread attention in the recent U.S. election cycle, has further fueled its appeal.
For some, PNUT is a nostalgic throwback to meme coin giants like Dogecoin, which also saw massive price increases following Musk’s endorsement.
Now, investors wonder if PNUT could truly be the next Dogecoin—a token that began as a lighthearted joke but ultimately now has a market cap of over $2 billion.
The momentum behind PNUT has also sparked interest in other Solana-based meme coins.
For instance, ACT, another token within the Solana ecosystem, saw a staggering 2,700% increase in the past week.
BONK, another popular meme coin, gained 50% and trades at $0.00003.
Analysts are curious whether PNUT’s rally will signal the start of a broader memecoin rally within the Solana network, similar to what occurred when Dogecoin gained mainstream attention.
The potential for these meme coins to reach new heights mirrors the excitement seen in previous cycles.
During Donald Trump’s victory rally, meme coins saw remarkable gains, with Dogecoin outperforming some of the top ten crypto assets.
The so-called “Department of Government Efficiency” (DOGE)—an ironic play on Dogecoin’s acronym—received backing from prominent figures like Elon Musk, fueling the meme coin’s fire.
Other major cryptocurrencies, including Bitcoin, climbed to record highs, with Bitcoin reaching an all-time high of $93,000.
Elon Musk has long held a prominent role in shaping the meme coin sector.
He is known for supporting Dogecoin and has frequently tweeted about it, causing its value to skyrocket.
Over the years, his influence on Dogecoin and Shiba Inu has attracted the attention of both avid supporters and skeptical investors.
Musk himself reportedly owns a substantial amount of Dogecoin.
While he has been accused of manipulating the market following the coin’s 80% drop, his role in boosting meme coins continues to be unparalleled.
In a way, Musk’s tweet about “Peanut the Squirrel” signals a continuation of his affinity for memes and lighthearted commentary in the crypto space.
Although PNUT’s price could face volatility as it rides this wave of celebrity influence, the connection between memes, culture, and cryptocurrency is very unpredictable.
Spotlight on Flockerz: A Rising Star Moving Closely With Peanut
Amid the rising competition among meme tokens, another intriguing player has entered the scene: Flockerz.
Leveraging the power of community and the allure of meme culture, Flockerz is positioning itself as more than just a typical meme coin.
$FLOCK is redefining the expectations for meme coins by combining community engagement with tangible utility, distinguishing itself from tokens like PNUT or Bonk.
Unlike many meme coins focusing solely on community-driven hype, Flockerz offers unique features to enhance long-term value.
Its blockchain integration allows users to earn rewards through staking. These elements are built into the core of the Flockerz ecosystem, making it an attractive option for investors who want more than just speculation.
What sets Flockerz apart from its competitors is its cross-chain compatibility.
While tokens like Bonk are limited within the Solana ecosystem, Flockerz is designed to operate across multiple blockchains, including Ethereum, Binance Smart Chain, and Polygon.
In contrast to other meme coins, where staking is often an afterthought, staking and rewards are integral to Flockerz’s design.
For early investors, this means the potential to generate consistent returns simply by holding and staking their tokens.
Flockerz’s presale has generated considerable buzz recently, raising over $1.7 million from excited investors.
With the presale price of $0.0060049, this token offers a promising entry point for those looking to capitalize on the next big meme coin.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
