Peanut the Squirrel (PNUT) Meme Coin Soars 1,500%, Stealing Dogecoin's (DOGE) Spotlight

Following Donald Trump's decisive victory in the 2024 U.S. presidential election, meme coins are gaining fresh momentum. Dogecoin (DOGE) remains a leader

Meme coins are once again surging following Donald Trump’s decisive victory in the 2024 U.S. presidential election. While Dogecoin (DOGE) continues to lead the pack, the Solana-based meme coin Peanut the Squirrel (PNUT) has stolen the spotlight, skyrocketing over 1,500% in just the past week.

Mid-cap meme coin PNUT, now boasting a market cap of around $1.8 billion, has seen massive gains after its recent listing on Binance. This exposure has driven PNUT’s daily trading volume to an impressive $6.4 billion—more than triple its market cap, indicating high demand and widespread interest.

PNUT Whale Shifts Focus to FRED

On-chain data reveals that PNUT’s largest holder controls approximately 27 million tokens, valued at over $51 million at the time of writing. This major trader has engaged in 39 token trades, but only 9 have been successful, with PNUT emerging as a big win.

Between November 3 and 10, the trader purchased roughly $2.8 million worth of PNUT tokens, capturing a significant portion of the rally.

As PNUT's price continues to rise, this key holder has started shifting funds to a newer meme coin called First Convicted Raccoon (FRED). Over the past two days, they’ve purchased $671,000 worth of FRED tokens, now sitting on an unrealized profit of $1.24 million on this investment.

Inspired by PNUT's gains, speculative traders are flocking to FRED, which has seen impressive growth. In the last 24 hours, FRED surged over 200%, trading at around $0.21 on Thursday, November 14, during the early New York session.

According to recent on-chain data, FRED had net liquidity of $5.2 million, with more buyers (72,000) than sellers (48,000). With a growing base of over 41,000 holders, FRED seems set to continue gaining steam as interest builds.

The above is the detailed content of Peanut the Squirrel (PNUT) Meme Coin Soars 1,500%, Stealing Dogecoin's (DOGE) Spotlight. For more information, please follow other related articles on the PHP Chinese website!