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Highlights
- Solana-based PNUT hits $1.35 after Coinbase listing, with $1.5B trading volume and $1.34B market cap.
- PNUT overtakes POPCAT & MOG COIN; Coinbase adds its 12th meme token amid growing market focus.
- Analysts predict PNUT could reach $5, with futures open interest rising 40.48% to $328.05M.
Solana-based memecoin Peanut the Squirrel (PNUT) saw a sharp 20% price increase after Coinbase revealed plans to add it to its listing roadmap. PNUT’s market cap climbed to $1.34 billion, overtaking other notable meme coins such as POPCAT and MOG COIN.
PNUT Price Soars 35% with Coinbase Listing Announcement
Coinbase’s announcement to list PNUT, a meme coin originating from the Solana blockchain, has sparked renewed interest among crypto traders. The news pushed PNUT’s price to $1.35, marking a 35% surge within 24 hours.
Data from CoinMarketCap shows that PNUT’s trading volume soared to $1.5 billion during this period.
PNUT first gained attention after a viral social media incident involving the euthanization of a squirrel mascot named Peanut. The controversy helped the token establish a strong following on crypto Twitter, with its market cap previously peaking at $2.4 billion. With its addition to Coinbase, PNUT joins the platform’s growing list of meme coins, a trend that has accelerated in recent months.
Competing Meme Coins Lose Ground
The addition of PNUT to Coinbase puts it ahead of other popular meme coins such as POPCAT and MOG COIN in market capitalization.
Coinbase’s listing roadmap has become a significant driver of market trends, often causing price surges for newly listed tokens. PNUT is now the 12th meme coin to be included by the exchange.
In recent months, Coinbase has also added other meme coins such as MOG COIN and Moo Deng (MOODENG), reflecting the platform’s strategic focus on capturing the growing popularity of this token category. Binance had already listed PNUT, which had previously triggered a similar price rally.
Analyst Predicts 463% Price Jump for PNUT
Analysts have projected that PNUT could experience further price increases in the coming months. One crypto analyst suggested that PNUT may see a 463% surge, potentially reaching a price of $5, given the current momentum and increased visibility on major exchanges like Coinbase and Binance.
Additionally, open interest in PNUT futures has risen by 40.48%, reaching $328.05 million. This increase in open interest reflects growing speculation and trader confidence in the token’s potential for further growth.
Concurrently, alongside PNUT, Coinbase recently announced support for Magic Eden’s ME token, Turbo (TURBO), and Gigachad (GIGA). TURBO, an ERC-20 token developed entirely using AI, and GIGA, an SPL token from Solana, have also seen increased visibility following their listing announcements.
Trading for TURBO and GIGA is scheduled to begin on December 11, provided liquidity conditions are met. These listings follow a larger trend of meme coin adoption, with both Coinbase and Binance expanding their portfolios to attract broader audiences.
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