The recent controversy surrounding Peanut the Squirrel has ignited a significant surge in memecoin activity, particularly on the Solana blockchain. Following accusations by Mark Longo against Binance for unauthorized use of Peanut's likeness to promote the PNUT token, the market has seen a proliferation of Peanut-themed memecoins, some achieving market caps exceeding $100 million. This frenzy has not only captured the attention of traders but also led to legal actions, as seen with a lawsuit filed against Solana's Pump.Fun by a trader who incurred minor losses but aims to represent a broader affected group.
In a notable development, Coinbase's announcement to list a Peanut-themed memecoin has further fueled market excitement, driving the coin's value to new heights. This series of events underscores the volatile and rapidly evolving nature of the cryptocurrency market, where viral internet phenomena can significantly impact trading dynamics and investor sentiment. As the situation unfolds, stakeholders are closely monitoring both the legal ramifications and market opportunities presented by the Peanut the Squirrel phenomenon.
The Rise of PNUT: How Peanut the Squirrel Ignited Memecoin Mania
September 12, 2025
1 min read
The recent controversy surrounding Peanut the Squirrel has ignited a significant surge in memecoin activity, particularly on the Solana blockchain. Following accusations by Mark Longo against Binance for unauthorized use of Peanut's likeness to promote the PNUT token, the market has seen a proliferation of Peanut-themed memecoins, some achieving market caps exceeding $100 million.