Memecoin Review: Peanut the Squirrel $PNUT

In an era where internet culture drives financial markets, few stories capture the absurdity quite like Peanut the Squirrel ($PNUT). This Solana-based memecoin emerged from genuine tragedy—a beloved pet squirrel's controversial euthanization—and transformed viral outrage into a top 200 CoinMarketCap cryptocurrency with listings on Binance and Coinbase.

What started as social media fury over government overreach became something much larger. When the New York State Department of Environmental Conservation (NYSDEC) euthanized Peanut in October 2024, the incident sparked widespread criticism and caught the attention of high-profile figures like Elon Musk. This perfect storm of emotion, politics, and internet culture created fertile ground for what would become one of 2024's most talked-about memecoins.

Our comprehensive review examines how $PNUT leveraged viral storytelling to achieve remarkable market success while also exploring the very real risks associated with investing in tokens built on internet sentiment.

From Viral Tragedy to Crypto Phenomenon

The incident that sparked $PNUT quickly became politicized, with critics arguing the government action represented regulatory overreach. But it was the amplification by internet personalities that truly set things in motion.

Musk's criticism on X significantly expanded the story's reach beyond typical animal welfare discussions. When Joe Rogan picked up the narrative on his podcast, connecting it to broader themes of government authority, the foundation was set for something unprecedented in the crypto world.

$PNUT launched in early November 2024 on Pump.fun, timing perfectly with the viral outrage surrounding Peanut's death. The token gained explosive momentum as internet users rallied around the story, transforming grief and anger into financial speculation. Unlike traditional cryptocurrencies with detailed whitepapers and utility roadmaps, $PNUT embraced its nature as pure viral storytelling—and that authenticity resonated.

The development team remains largely anonymous, which is standard practice in the memecoin space but understandably raises transparency questions. Their official presence centers around pnutsol.com and the @pnutsolana X account, where they share updates about exchange listings and community milestones with the enthusiasm you'd expect from a project built on internet culture.

Market Performance: When Memes Meet Money

$PNUT's tokenomics follow the memecoin playbook—keep it simple, make it accessible. With a total supply of 1 billion tokens and claimed zero transaction taxes, the project removes typical friction points that might discourage casual traders drawn in by the viral story.

But here's where things get interesting from a market perspective. Despite its humble origins, $PNUT has carved out a significant position in the cryptocurrency rankings, currently sitting in the top 200 on CoinMarketCap. That's no small feat in a space with thousands of competing tokens.

The price action tells a story of extreme volatility that would make even seasoned crypto traders dizzy:

• Launch Price: Started around $0.032 on November 4, 2024
• Peak Performance: Reached $2.44 on November 14, 2024
• Explosive Growth: Over 7,500% gain from launch to peak
• Holder Base: 93,413 token holders as of June 2025

The Exchange Validation Game

Perhaps nothing legitimizes a memecoin quite like major exchange listings—and $PNUT hit the jackpot. The Binance listing on November 11, 2024, marked a pivotal moment that transformed the token from an internet curiosity to a serious market player. The immediate 300% price surge that followed pushed the token above $1 billion market cap within 48 hours, proving that even in crypto's wild west, institutional validation still matters.

What made the Binance listing even more significant was the exchange's decision to create a BTC/PNUT trading pair. This wasn't just another altcoin listing—Binance had previously reserved Bitcoin pairings for established players like Dogecoin. The move signaled genuine confidence in $PNUT's staying power and provided additional legitimacy that many memecoins never achieve.

The domino effect continued when Coinbase officially listed $PNUT in December 2024. The announcement alone triggered a 20% price surge and pushed the token's market cap back above $1 billion. It's a testament to how much weight these endorsements carry in the crypto space.

Beyond the major players, $PNUT secured listings across various exchanges including, Poloniex, KuCoin, HTX, and RevolutApp for UK users. Each new listing expanded accessibility and trading volume, creating the kind of network effects that separate successful memecoins from one-hit wonders. The token even earned a spot as a loanable asset on Binance Loans by June 2025, allowing holders to earn yield on their positions.

Community: Where Internet Culture Meets Investment

The $PNUT community embodies everything fascinating and terrifying about internet-driven investing. Centered around their X account and their Telegram channel, the community operates with the passionate intensity typical of viral internet movements.

What's striking is how the community has embraced both the absurdity and the serious financial implications of their investment. Social media feeds mix memes about squirrels with technical analysis charts, creating a unique blend of humor and financial speculation. Recent posts have celebrated everything from RevolutApp trading availability to Binance's BTC pairing, treating each development as validation of their collective belief in the project.

The sentiment remains largely bullish, with many supporters describing the token as "underpriced"—a common refrain in memecoin communities that sometimes proves prophetic and sometimes leads to painful lessons. Interestingly, some members have tied price movements to political events, particularly Trump's inauguration in January 2025, showing how the original political narrative continues to influence trading psychology.

While Musk's and Rogan's comments weren't direct token endorsements, they provided the foundational story that continues to drive community engagement. However, the community shows signs of maturity rarely seen in memecoin spaces—several X posts actually warn about potential volatility and "bull traps," suggesting a more balanced perspective than the typical "diamond hands" mentality.

Technical Architecture and Security Features

$PNUT benefits from Solana's technical infrastructure, which provides fast transaction processing and low fees compared to Ethereum-based alternatives. Transactions settle within seconds at costs typically under $0.01, making it practical for both large and small trades.

The smart contract includes several security features designed to prevent common scams:

• Minting Disabled: Total supply locked at 1 billion tokens permanently
• Freezing Disabled: Developers cannot lock user funds or manipulate transfers
• Liquidity Locked: 99.65% of Raydium pool liquidity secured, reducing rug-pull risks
• GT Score: Achieved 96.33 on GeckoTerminal, reflecting strong market health

Liquidity security represents another strong point. The project maintains $8.1 million in on-chain liquidity, with the vast majority locked in place.

Contract verification on blockchain explorers allows technically skilled investors to review the token's code and confirm the claimed security features. The contract address can be used to verify token supply, holder distribution, and transaction history.

Addressing Scam Concerns and Controversies

$PNUT has faced scrutiny from cryptocurrency analysis platforms questioning its legitimacy, with critics pointing to emotional manipulation tactics, lack of team transparency, and vague tokenomics descriptions. However, these concerns must be evaluated within the context of memecoin standards—most successful projects like Dogecoin and Shiba Inu began with minimal utility and anonymous teams.

Binance's listing decision provides significant credibility to the token's legitimacy. Major exchanges conduct thorough due diligence before listing new tokens, and the fact that Binance created a BTC pairing suggests confidence in the project's authenticity.

The most significant controversy involves a legal dispute between Mark Longo, Peanut's original owner, and Binance over alleged trademark infringement. While this caused a temporary 10% price dip in December 2024, it appears focused on intellectual property rather than the token's fundamental legitimacy. $PNUT continues trading normally across all exchanges.

Investors should also be aware of fake airdrops and fraudulent websites attempting to capitalize on the $PNUT brand, though these are unrelated to the official project.

Investment Opportunities and Risk Assessment

$PNUT presents compelling opportunities for cryptocurrency investors seeking exposure to the memecoin sector, but the risks are equally substantial. The token's major exchange listings provide high visibility and liquidity, making it easier to enter and exit positions compared to smaller memecoins traded only on decentralized exchanges.

Key Investment Opportunities:

• Major Exchange Access: Listed on Binance, Coinbase, and multiple tier-1 platforms
• Political Narrative: Connection to government overreach themes provides sustained story appeal
• Solana Ecosystem: Benefits from fast, cheap transactions and growing DeFi integration
• Proven Community: Strong social media presence with engaged holder base

However, the risks associated with $PNUT investment are substantial and typical of memecoin investing. The token lacks fundamental utility or revenue-generating mechanisms, making its value entirely dependent on market sentiment and speculative trading. This creates extreme volatility and the potential for significant losses.

Comparison with Other Meme Tokens

$PNUT shares characteristics with established meme tokens like Dogecoin and Shiba Inu but stands out through its politically charged narrative and high-profile endorsements. The token's Binance BTC pairing places it in exclusive company with Dogecoin, suggesting institutional recognition that few meme tokens achieve.

Compared to Ethereum-based alternatives, $PNUT benefits from Solana's superior transaction speed and lower costs, making it more practical for frequent trading. Within the Solana ecosystem, it has achieved superior exchange recognition compared to competitors like $PENGU, which focus on NFT integration rather than pure viral marketing.

The political angle distinguishes $PNUT from most meme tokens, which typically rely on internet culture or celebrity endorsements. This connection could provide sustained narrative power but also creates risks if political sentiment shifts or the underlying story loses relevance.

Future Outlook and Conclusion

$PNUT has established itself as a legitimate participant in the meme token sector through major exchange listings, locked liquidity, and disabled token manipulation features. While concerns about transparency and utility remain valid, the token's infrastructure and market presence suggest it is not a scam, despite some early skepticism.

However, long-term success requires $PNUT to maintain relevance beyond its initial viral moment. The token's lack of utility and anonymous development team create sustainability challenges that may become more significant as market attention shifts to newer projects or different narratives.

The regulatory environment remains uncertain for memecoins generally, and $PNUT's political themes could attract additional scrutiny. While current legal challenges appear manageable, investors should monitor regulatory developments that could impact trading or exchange listings.

Despite these challenges, $PNUT demonstrates that viral storytelling combined with solid technical infrastructure can create significant market value in the cryptocurrency space. Whether this value proves sustainable depends on the community's ability to maintain engagement and find new narratives that keep the token relevant in an increasingly competitive meme token landscape.

For more information about $PNUT, visit the official website at pnutsol.com or follow updates on X @pnutsolana.