Coinbase will checklist the Peanut the Squirrel (PNUT) meme coin on the Solana community, with buying and selling set to start on January 14. Nonetheless, this can be topic to liquidity circumstances.
This marks a serious growth for the Solana meme coin, which reached over $2 billion in market cap again in November earlier than dropping over 50% in latest liquidations.
PNUT Jumps Almost 10% After Coinbase Itemizing
Coinbase added Peanut the Squirrel (PNUT) to its itemizing plans on December 11. After a month, the meme coin will lastly start buying and selling on the US change this week.
The itemizing information got here as a notable enhance for the meme coin. PNUT has considerably struggled to take care of any assist degree all through the previous month. In November, the token was among the many high 5 meme cash out there.
Since then, PNUT has misplaced greater than 50% of its worth, and its present market cap stands simply above $500,000.
“Coinbase will add assist for Peanut the Squirrel (PNUT) on the Solana community (SPL token). Buying and selling will start on or after 9AM PT on 14 January, 2025 if liquidity circumstances are met. As soon as ample provide of this asset is established buying and selling on our PNUT-USD buying and selling pair will launch in phases. Help for PNUT could also be restricted in some supported jurisdictions,” Coinbase introduced.
At this time’s itemizing announcement noticed PNUT bounce 10% in an hour, however the meme coin continues to be down by 13% on the day. The token’s each day buying and selling quantity additionally surged over 90%, in response to CoinMarketCap information.
The Coinbase itemizing got here comparatively late, as different main exchanges like Binance, Bybit, and Bitget listed the meme coin very early. PNUT was additionally not too long ago listed by web3 funds infrastructure supplier Transak.
The meme coin was created and launched by way of Pump.enjoyable in November 2024. It was themed after the favored social media pet ‘Peanut the Squirrel,’ which belonged to NY resident Mark Longo.
Nonetheless, Peanut was seized and euthanized by state environmental regulators. This led to a social media outcry, and nameless builders launched the PNUT meme coin.
Though the group rapidly obtained behind the token, Longo quickly filed a lawsuit in opposition to Binance. Longo accused Binance of utilizing his picture (IP) with out permission to endorse the meme coin.
No matter these challenges, PNUT has seen important speculative curiosity all through the months.
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