In the wake of Donald Trump’s decisive victory in the 2024 U.S. presidential election, meme coins are gaining renewed popularity, with both established tokens and new contenders gaining traction.
Dogecoin (DOGE) remains a dominant force, but Solana-based Peanut the Squirrel (PNUT) has surged into the spotlight, skyrocketing more than 1,500% in just the past week.
A recent listing on Binance has propelled PNUT’s market cap to an impressive $1.9 billion, with daily trading volume reaching a remarkable $6.4 billion, indicating significant demand and investor enthusiasm.
At the time of writing, the price of PNUT has reached almost $2. The massive price increase has drawn the attention of traders, solidifying PNUT’s position as one of the hottest meme coins in the market.
On-chain data reveals that PNUT’s largest holder owns around 27 million tokens, worth over $51 million at current prices. This whale has executed 39 trades, with PNUT emerging as a major winner, contributing to the substantial gains.
Between November 3 and 10, this trader purchased approximately $2.8 million worth of PNUT, capitalizing on the token’s rapid rise.
As PNUT continues to climb, its strong market performance and high trading volume indicate that the meme coin may have more room for growth, attracting further attention from investors looking to capitalize on its momentum.
Also Read: Dogecoin Surges 89% After Trump’s D.O.G.E. Announcement
