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In the aftermath of Donald Trump’s resounding victory in the 2024 U.S. presidential election, the world of meme coins is witnessing an unprecedented surge. Dogecoin (DOGE) continues to hold a prominent position, but it’s the Solana-based meme coin, Peanut the Squirrel (PNUT), that has captured the crypto community’s attention, skyrocketing by over 1,500% in the past week alone.
PNUT: From Underdog to Market Sensation
The mid-cap meme coin PNUT, with its current valuation nearing $1.8 billion, has rapidly gained momentum following its recent debut on Binance. This new level of exposure propelled PNUT’s daily trading volume to an astounding $6.4 billion—more than triple its market cap—a clear indicator of its growing demand and widespread interest among investors.
PNUT Whale Makes Strategic Moves
On-chain data reveals that PNUT’s largest holder possesses approximately 27 million tokens, valued at over $51 million at the time of writing. This significant trader has been involved in 39 trades, out of which only 9 were successful, with PNUT being a major win. During the period from November 3 to 10, the trader acquired around $2.8 million worth of PNUT tokens, capitalizing on a substantial portion of the rally.
As the price of PNUT continues to climb, this key investor has started to realize profits, strategically reallocating funds to a newer meme coin called First Convicted Raccoon (FRED). In the past two days, they have invested $671,000 in FRED tokens, currently holding an unrealized profit of $1.24 million on this venture.
Exploring the Buzz Around FRED
FUELED by the remarkable gains of PNUT, speculative traders are turning their attention towards FRED, which has exhibited robust growth. In the last 24 hours, FRED has surged by more than 200%, trading at approximately $0.21 on Thursday, November 14, during the early New York session.
Recent on-chain data highlights FRED’s net liquidity at $5.2 million, with a notable increase in buyer interest—72,000 buyers compared to 48,000 sellers. With a burgeoning community of over 41,000 holders, FRED seems well-positioned for sustained growth as enthusiasm continues to mount.
The Crypto Frenzy: A Squirrel and a Raccoon Steal the Show
It’s fascinating how a squirrel and a raccoon have managed to create such a buzz in the crypto world. As the landscape of meme coins evolves, investors and enthusiasts alike are eagerly watching for the next big sensation in this exciting domain.
Stay tuned for more updates and insights as the meme coin phenomenon continues to unfold.
More Meme Coin Insights
- SHIB & WIF Memecoins Hit 2X This Year: Is a New All-Time High On The Horizon?
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