Amid the memecoin season, the leading crypto exchange, Coinbase announced the addition of Solana-based memecoin, Peanut Squirrel (PNUT) to its listing roadmap. The announcement helped the PNUT to gain a 30% hike in the last 24 hours.
At the time of publication, PNUT hovers around $1.30 with a market capitalization of $1.29 billion. Last month, Binance also listed PNUT.
PNUT takes its name from a squirrel called Peanut, rescued by a family in New York. Peanut gained popularity through the family’s TikTok and Instagram posts, but New York wildlife authorities confiscated the animal due to state laws prohibiting squirrels as pets. On October 30th, the squirrel was put down.
Peanut Squirrel’s Connection With Pump.fun
In recent months, Solana blockchain onboarded numerous memecoin projects with the launchpads like Pump.fun. Peanut the Squirrel (PNUT) also belongs to the same platform. However, Pump.fun has been a hotbed for numerous controversies.
Following the disabling of its live-streaming features due to harmful content on November 25, Pump.fun experienced a 33% drop in revenue. Subsequently, UK’s Financial Conduct Authority (FCA) issued a warning that pump.fun was not authorized to operate in the country and proceeded to block the platform.
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