The world of memecoins experienced a new sensation when a trader spent almost $17 (around 0.0983 SOL) to buy around 2.46 million PNUT four days ago, only to make a 12,000x profit a few days later.
Blockchain intelligence, Onchain objective wrote on worth $18,000) and is about to sell automatically. » As of November 3, total profit had increased 12,000 times.
Another trader had bought $19.4 million PNUT for just $8 SOL ($1,392) and sold it for $4.09 SOL ($711), suffering a loss of $681. Yesterday, this $19.4 million PNUT was worth more than $1.85 million. As Onchain Lens rightly says, “This trader could have become a millionaire in just 2 days.” »
Looking at PNUT’s current performance, memecoin is trading at $0.05135 and has seen a decline of over 35% in the last 24 hours.
PNUT became a sensation after New York authorities seized and euthanized a pet squirrel named Peanut, sparking outrage from its owner, Mark Longo, and a large audience on social media. The news quickly escalated and became a political topic. Tech billionaire and Donald Trump supporter Elon Musk criticized unnecessary intervention by government officials. “The government kidnapped an orphaned squirrel and over-executed it,” Musk posted, further adding that the government should leave people and their animals alone.
Many crypto analysts also predict that the frenzy around the coin will calm down as soon as the US election results are released and the whole controversy surrounding Peanut’s death settles down.
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