Elon Musk's post ignites Solana Meme coin PNUT big pump of over 10%

Event Overview: Musk's Tweet Unexpectedly Drives Coin Price Surge The meme coin based on the Solana blockchain Peanut the Squirrel (PNUT) saw its price skyrocket over 10% in just 24 hours. This meme coin price surge was triggered by a viral tweet from Elon Musk that unexpectedly drew attention.

The timing of the tweet coincides with the surge of PNUT Elon Musk posted a meme mocking the fact that people related to the Epstein case have not faced legal consequences, captioning it with "There are more arrested squirrels and raccoons than people connected to Jeffrey Epstein." He then mentioned a squirrel named "Peanut" that "was arrested (and executed)."

Although Musk did not directly mention the PNUT token, the timing of his tweet highly coincides with the surge in PNUT coin price and trading volume. The tweet quickly went viral, garnering over 4.5 million views within a few hours. Cryptocurrency traders seem to associate "peanut" with the meme coin PNUT, sparking a wave of attention.

Market Reaction: Trading Volume Soars, Market Capitalization Rises Shortly after Musk's tweet was released, the PNUT coin price jumped from about $0.2279 to $0.2357. Its 24-hour trading volume surged by over 80%, breaking through $214 million. Currently, the PNUT market cap is slightly above $235 million, with a total token supply of nearly 1 billion.

Viral marketing demonstrates its immense influence on the cryptocurrency market once again The "Peanut the Squirrel" project has accumulated a loyal fanbase in recent months, cleverly integrating internet humor culture with the high-speed trading advantages of the Solana chain. This is not the first time Musk has driven the price of meme coins up; his past tweets have spurred the prices of meme cryptocurrencies like Dogecoin and Floki (FLOKI) to soar.

The cryptocurrency market often reacts quickly to any comments by Musk that involve memes (even if vague or indirect). The price surge of PNUT once again confirms that social media popularity still plays a key role in cryptocurrency trading. A viral tweet can trigger millions of dollars in capital flow. In this incident, a political satire wrapped in humor unexpectedly propelled the rise of this Solana ecosystem meme coin.

Project Background and Future Outlook Whether PNUT can continue to rise will depend on future market attention and price momentum. Currently, Musk's tweet has undoubtedly brought PNUT its biggest exposure moment to date, and the Solana chain meme coin has once again proven its rapid responsiveness under the right market hype.

On July 8, Gate's latest market report shows that PNUT is currently priced at $0.22149, with a 24-hour increase narrowed to 4.48%.