A Solana (SOL)-based memecoin is surging after gaining help from prime US crypto change Coinbase.
In a put up on the social media platform X, Coinbase broadcasts the addition of Peanut the Squirrel (PNUT) to its platform for spot buying and selling.
Amid the information, Peanut the Squirrel is up 26.9% on the day. PNUT is buying and selling for $0.62 at time of writing, and with a market cap of $627.9 million, the memecoin is the one hundred and sixty fifth largest crypto challenge.
Coinbase signaled final month {that a} PNUT itemizing would happen sooner or later after including the digital asset to its itemizing roadmap.
Coinbase makes use of the itemizing roadmap for transparency and to stop insider buying and selling on cash previous to them being listed. Being positioned on the itemizing roadmap means the agency has decided the asset will doubtless be obtainable for buying and selling sooner or later.
PNUT is only one of a batch of different memecoins Coinbase has rolled out help for in latest months. Others embody Gigachad (GIGA), a crypto asset impressed by the picture shoot of Russian bodybuilder Ernest Khalimov, and Turbo (TURBO), a GPT-4 impressed memecoin.
PNUT is impressed by a squirrel rescued by a New York household. The squirrel turned in style on the household’s TikTok movies and Instagram, however New York wildlife officers seized the animal based mostly on state legal guidelines that prohibit holding squirrels as pets. The squirrel was euthanized on October thirtieth, which turned a viral incident.
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