Claim BonusCoinbase Adds PNUT Meme Coin On Solana Network, What’s Next?
Highlights
- Coinbase will list Peanut the Squirrel (PNUT) on Solana on January 14, pending liquidity conditions.
- PNUT's value rose over 10% post-listing news but remains below its $2.47 all-time high.
- PNUT faced legal issues as the pet squirrel's owner sued Binance for unauthorized IP usage.
Peanut the Squirrel (PNUT), a Solana-based meme coin that emerged in 2024, will join Coinbase platform. Pending liquidity requirements, trading for the PNUT-USD pair is set to commence on January 14, 2025, at 9:00 AM PT. The announcement follows a previous roadmap update in December.
Coinbase Confirms Solana-Based PNUT Meme Coin Trading to Begin This Week
According to a post on X, formerly Twitter, Coinbase confirmed that Peanut the Squirrel (PNUT) trading will launch on January 14, 2025. The meme coin, built on the Solana network, will have its trading pair PNUT-USD available in phases, depending on liquidity conditions.
The exchange noted that token transfers for PNUT are already accessible on Coinbase and Coinbase Exchange. However, trading support for PNUT may be restricted in certain regions, aligning with Coinbase’s regional compliance policies.
More so, the top crypto exchange post on X added,
“Once sufficient supply of this asset is established trading on our PNUT-USD trading pair will launch in phases.”
PNUT Price Gains Momentum but Remains Below Previous Highs
PNUT rose by more than 10% in value shortly after the top crypto exchange announcement. Peanut the Squirrel (PNUT) price rallied from $0.48 to $0.59 after it was revealed that it would be listed at Coinbase.
This represents a significant rebound after earlier declines, with a 1.98% daily increase in market cap and over 107% growth in trading volume to $431.71M. Despite the uptick, the token remains 79% below its all-time high of $2.47 reached in November 2024.
The meme coin surged in popularity following a social media-driven movement, but recent months have seen its value decline amid a broader market downturn.
However, the heavy Solana meme coin accumulation has pushed the PNUT price up with analysts eyeing a rally to $1. Notably, PNUT is testing a breakout from its downward trendline, supported by strong whale activity and the Coinbase listing.
Legal and Market Challenges Surround PNUT Meme Coin
The origin of PNUT is linked to a social media outcry in late 2024. The token was created after New York state regulators seized and euthanized a pet squirrel named Peanut. This event led to the token’s launch and widespread adoption by a community of supporters.
PNUT has also faced legal challenges. Mark Longo, the pet squirrel’s owner, filed a lawsuit against Binance. Mark Longo accused the platform of unauthorized usage of his intellectual property to promote the meme coin. The legal proceedings have added a layer of uncertainty to PNUT journey in the crypto market.
Notably, the listing enhances PNUT meme coin visibility on one of the largest crypto exchanges. With its recent addition to Coinbase and the ongoing interest from its community, PNUT may experience further volatility in the coming weeks.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Trump Tariffs: US Treasury Able to Refund Amid Crypto Market Crash Concerns
- Pi Coin Utility Grows as Pi Network Launches Major App Payment Upgrade
- Solana Pushes Critical Validator Update to Protect Mainnet Stability
- Tether and UN Join Forces for Africa’s Crypto Security as USDT Adoption Grows Across Nigeria
- Genius Act: Stablecoin Yields Face Regulatory Crackdown as Banks’ Lobby Pressures Senate
- Why Is Polygon (POL) Price Up Today? Here’s What’s Fueling the Surge
- What’s Keeping XRP Price Below $3 After a Significant Jan 2026 Rally?
- Top Crypto Analyst Predicts Cardano Price Can Hit $10: Will It?
- Ethereum Price Prediction Ahead of U.S Unemployment Data Drops Today
- Solana Price Prediction if Bitcoin Holds Above $95,000
- Dogecoin Price Eyes $0.20+ Following Massive 218M DOGE Whale Buying Spree
