Listing on OKX Sparks Value Surge
The PNUT meme coin, inspired by the viral “Peanut the Squirrel,” surged nearly 9% after listing on OKX. The token, operating on the Solana blockchain, gained significant attention after its debut on one of the world’s largest cryptocurrency exchanges.
On November 11, OKX officially listed PNUT, enabling spot trading with Tether (USDT) from 10:30 AM UTC. Within five minutes, the coin’s value jumped 8.42%, hitting $0.4489, according to DEX Screener data. As of now, PNUT’s market capitalization has reached nearly $450 million, with a fully diluted volume of $448.6 million.
This OKX listing followed PNUT’s debut on Binance, which began trading the token on November 11 at 10:00 AM UTC. Within 24 hours of these announcements, PNUT’s value skyrocketed 332%, driven by its Binance listing and its partnership with ACT (Act 1: The AI Prophecy), another viral meme coin.
OKX outlined the listing process for PNUT, starting with a deposit window opening at 9:20 AM UTC on November 11. The call auction period ran from 9:40 AM to 10:40 AM UTC. However, users can’t withdraw their PNUT tokens until November 12 at 10:00 PM UTC. The total supply of PNUT is limited to 999.8 million tokens, adding a scarcity factor to its market appeal.
Tribute to Peanut the Squirrel Drives Community Support
PNUT’s launch in early November was a tribute to Peanut the Squirrel, an internet sensation who captivated audiences before his tragic death. On October 30, the New York State Department of Environmental Conservation (NYSDEC) removed Peanut from his owner, Mark Longo, after receiving anonymous complaints. The NYSDEC euthanized the squirrel, sparking outrage from animal rights activists and prominent figures, including Elon Musk, who called it an example of government overreach.
The crypto community responded with a wave of support, launching several meme coins to honor Peanut’s memory. PNUT quickly became the most prominent tribute coin, recording a $300 million trading volume and more than 200,000 transactions within two days. This community-driven support has contributed to the token’s rapid rise in both value and visibility in the cryptocurrency market.
