Peanut the Squirrel (PNUT) has experienced a significant surge of over 30% in the last 24 hours, rising from under $1 fueled by positive developments.
The price of the PNUT meme coin was around $1.29 on Wednesday afternoon, climbing from lows of $0.98. Bullish momentum pushed its value to daily highs of $1.38.
Coinbase Announcement Boosts PNUT Price
The price of PNUT spiked by more than 30% on December 11 following the announcement by US-based crypto exchange Coinbase about adding Peanut the Squirrel to its listing roadmap. This Solana-based meme coin saw a surge in value after the news, with overall market trends also contributing to the upward movement.
Assets added to the roadmap today: Peanut the Squirrel (PNUT)https://t.co/rRB9d3hSr2
— Coinbase Assets 🛡️ (@CoinbaseAssets) December 11, 2024
Peanut the Squirrel gained widespread attention in November during the controversy surrounding the killing of Peanut, an internet-famous squirrel. It reached its peak price of $2.44 on November 14, 2024.
Despite a subsequent pullback, the PNUT price has surged over 3,900% since hitting lows of $0.03 on November 4.
Following the Coinbase listing, PNUT will be available on another major crypto exchange after Binance, the world’s largest exchange by trading volume, added spot trading for the coin. As a result, PNUT’s price is once again on the rise.
Currently, Peanut the Squirrel ranks as the 116th largest cryptocurrency and the eighth largest meme coin in terms of market capitalization, exceeding $1.2 billion. Over the past 24 hours, the meme coin has seen a trading volume of over $1.7 billion, marking a more than 14% increase.
In addition to PNUT, Coinbase has recently added other meme coins like Moo Deng, DEGEN, and Mog Coin to its platform.
