30s Summary

“Peanut the Squirrel,” an internet celebrity, inspired the creation of memecoins on digital finance markets like Solana, some reaching a value over $120 million. Peanut’s caregiver, Mark Longo, had taken care of Peanut for seven years following an accident that left the squirrel unable to live in the wild. Despite protests from Elon Musk and Longo himself, Peanut was euthanized by New York’s Department of Environmental Conservation, sparking outrage. However, Peanut-themed digital tokens continue to bloom along with a Fred-themed memecoin, named after a raccoon also put down, standing at a market value of $8.2 million.

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Check it out, guys! Memecoins, fueled by the unexpected internet fame of “Peanut the Squirrel,” are booming in the digital finance markets of Solana, and a few of these digital tokens have even reached a wild total value of over $120 million.

You might know Mark Longo as the human buddy of Peanut, boasting more than 600,000 followers on social media. Well, Mark shared that on Oct. 30, New York’s Department of Environmental Conservation scooped up and decided to put down not just Peanut, everyone’s favorite squirrel, but also “Fred” the raccoon. Why? Some folks apparently filed complaints about Peanut’s setup as not being safe enough. Mark didn’t mince words on Instagram, blasting those who reported him by saying: “Well internet, you WON. You took one of the most amazing animals away from me because of your selfishness. To the group of people who called DEC, there’s a special place in hell for you.”

Peanut’s story started about seven years ago when Mark found him after his mother had been hit by a car. Unable to survive in the wild due to an injury, Mark took Peanut in, nursed him to health, and became his caregiver. Sadly it ended with his death, which infuriated many, including billionaire celeb, Elon Musk, who called the authorities’ actions “mindless” and “heartless.”

But, not all the news is grim. The frothy wave of Peanut’s fame also inspired some genius memecoin creators to create new digital tokens in honor of our furry pal. Data tracker Dexscreener has noted that quite a few of these Peanut-themed memecoins have dropped on the Solana network. In fact, two Peanut-themed memecoins have sprinted to the top 10 tokens in Dexscreener’s 24-hour charts.

One, going by the name of Peanut the Squirrel (PNUT), hit almost $300 million in trading two days after it was created, logging over 200,000 transactions. Currently, it’s got a market value of $100 million, after peaking at $120 million. Another new memecoin also popped up on the BNB Smart Chain platform and hit an $80 million market cap, clocking more than $110 million in trading.

And let’s not leave out Fred, the raccoon. A Fred-themed memecoin also surfaced on the Solana memecoin scene. Known as “First Convicted Raccoon” (FRED), this digital token managed almost 150,000 transactions and reached a trading volume of $83 million. Despite this trading flurry, for now, the FRED token’s total market value is $8.2 million.