Solana-based memecoin Peanut the Squirrel (PNUT) noticed a pointy 20% worth improve after Coinbase revealed plans so as to add it to its itemizing roadmap. PNUT’s market cap climbed to $1.34 billion, overtaking different notable meme cash corresponding to POPCAT and MOG COIN.
PNUT Worth Soars 35% with Coinbase Itemizing Announcement
Coinbase’s announcement to checklist PNUT, a meme coin originating from the Solana blockchain, has sparked renewed curiosity amongst crypto merchants. The information pushed PNUT’s worth to $1.35, marking a 35% surge inside 24 hours.
Knowledge from CoinMarketCap exhibits that PNUT’s buying and selling quantity soared to $1.5 billion throughout this era.
PNUT first gained consideration after a viral social media incident involving the euthanization of a squirrel mascot named Peanut. The controversy helped the token set up a powerful following on crypto Twitter, with its market cap beforehand peaking at $2.4 billion. With its addition to Coinbase, PNUT joins the platform’s rising checklist of meme cash, a pattern that has accelerated in current months.
Competing Meme Cash Lose Floor
The addition of PNUT to Coinbase places it forward of different fashionable meme cash corresponding to POPCAT and MOG COIN in market capitalization.
Coinbase’s itemizing roadmap has grow to be a major driver of market tendencies, typically inflicting worth surges for newly listed tokens. PNUT is now the twelfth meme coin to be included by the change.
In current months, Coinbase has additionally added different meme cash corresponding to MOG COIN and Moo Deng (MOODENG), reflecting the platform’s strategic deal with capturing the rising reputation of this token class. Binance had already listed PNUT, which had beforehand triggered an analogous worth rally.
Analyst Predicts 463% Worth Leap for PNUT
Analysts have projected that PNUT might expertise additional worth will increase within the coming months. One crypto analyst urged that PNUT may even see a 463% surge, doubtlessly reaching a worth of $5, given the present momentum and elevated visibility on main exchanges like Coinbase and Binance.
Moreover, open curiosity in PNUT futures has risen by 40.48%, reaching $328.05 million. This improve in open curiosity displays rising hypothesis and dealer confidence within the token’s potential for additional progress.
Concurrently, alongside PNUT, Coinbase just lately introduced help for Magic Eden’s ME token, Turbo (TURBO), and Gigachad (GIGA). TURBO, an ERC-20 token developed completely utilizing AI, and GIGA, an SPL token from Solana, have additionally seen elevated visibility following their itemizing bulletins.
Buying and selling for TURBO and GIGA is scheduled to start on December 11, offered liquidity circumstances are met. These listings observe a bigger pattern of meme coin adoption, with each Coinbase and Binance increasing their portfolios to draw broader audiences.
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Kelvin Munene Murithi
Kelvin is a distinguished author with experience in crypto and finance, holding a Bachelor’s diploma in Actuarial Science. Recognized for his incisive evaluation and insightful content material, he possesses a powerful command of English and excels in conducting thorough analysis and delivering well timed cryptocurrency market updates.
Disclaimer: The introduced content material might embody the private opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any accountability to your private monetary loss.
