🌎 Peanut the Squirrel Sees 15.4% Rise Amid Speculation

Peanut the Squirrel Sees 15.4% Rise Amid Speculation Over Coinbase and Robinhood Listings

Amid speculation over potential listings on two major exchanges, Peanut the Squirrel (PNUT) has experienced a significant short-term price surge, rising 15.4% over the past 24 hours. The meme coin traded hands at $0.7102, bringing its market capitalization to over $710 million. PNUT’s daily trading volume increased by 190%, reaching over $596 million.

PNUT Outperforms Broader Meme Coin and Global Crypto Markets

Despite a 1.8% drop in the broader meme coin market, valued at $107.3 billion, and a 3.1% decline in the global crypto market, which stood at $3.41 trillion, PNUT managed to buck the trend. The recent rally has sparked interest in the meme coin’s potential listing on major exchanges.

Whale Accumulation and Futures Market Demand Drive PNUT’s Price Surge

According to on-chain data, a whale withdrew 10 million PNUT tokens, worth approximately $6.1 million, from Binance. These tokens were transferred to a decentralized wallet labeled “76yGJ,” making it the sixth-largest PNUT holder. This move reflects a trend of whale accumulation, which is often viewed as a bullish signal for an asset’s price. Additionally, futures traders have shown increased demand for PNUT, with open interest in its futures market jumping 35% over the previous day to over $222.92 million.

Potential Listings on Coinbase and Robinhood Drive Market Speculation

The biggest catalyst driving PNUT’s price surge appears to be market speculation surrounding a possible listing on two premier exchanges in the U.S., Coinbase and Robinhood. Coinbase has officially included PNUT in its listing roadmap, although no exact date has been announced. Market commentators speculate that Robinhood may also list the meme coin, given its existing listings on top-tier global exchanges such as Binance, OKX, and Bybit.

Recent listings on Blockchain.com and the Indian crypto exchange Zebpay have also contributed to PNUT’s growing exposure. As seen in the past, meme coins tend to strongly rally following a listing on a major centralized exchange.

Community Sentiment Remains Bullish

Community sentiment surrounding PNUT appears largely bullish, with 78% of 73.6k votes anticipating further gains. The total number of PNUT holders rose by 10% in December, contributing to improved liquidity and a stronger community base.

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