ApeCoin (ape) 
Newly Launched Meme Coin on Solana Blockchain Captures Traders’ Attention
A new meme coin, Peanut the Squirrel (PNUT), has gained significant attention from crypto traders after its launch on the Solana blockchain in early November. The coin has seen a remarkable price performance, with its value skyrocketing by up to 2,300% from $0.052 to $1.31.
PNUT’s Price Performance and Market Cap
According to recent data, Peanut the Squirrel has become the top gainer among cryptocurrencies, with a 10.14% increase in a day of trading. The coin’s trading volume has also expanded by almost 100% to $1.5 billion. As a result, PNUT has entered the top 100 cryptocurrencies, with a market cap of $1.3 billion.
PNUT’s Controversy and Community Backlash
The token was created in October to pay tribute to a squirrel euthanized by the New York State Department of Environmental Conservation. However, the token has been surrounded by controversy, with the owner of the squirrel, Mark Longo, claiming that the community misused his pet’s legacy for financial gain without any compensation.
“Squirrel Dad has also announced he plans to be suing $PNUT in his own words: ‘Wait til I shut it down for copyright infringement,'” ProofOfEly mentioned.
In response to the controversy, Mark Longo has created his own crypto token, JUSTICE, in an attempt to assert himself over the narrative and step away from the community.
Tips for Investing in Meme Coins
When investing in meme coins, it’s essential to do your research and understand the risks involved. Here are some tips to keep in mind:
- Research the token’s background and purpose
- Understand the token’s market cap and trading volume
- Be aware of any controversies or community backlash
- Never invest more than you can afford to lose
Stay up-to-date with the latest news and updates on the world of cryptocurrencies with Global Crypto News. For more information on investing in meme coins and other cryptocurrencies, visit our website.
