TL:DR;
- The popular meme token has resumed its bull rally after it was abruptly halted at the end of last year, skyrocketing by double digits on a daily scale.
- The latest price move came after support from the largest US-based crypto exchange.
Approximately two months back, PNUT made its debut following the unfortunate euthanization of a pet squirrel named Peanut in New York state. This digital token, built on the Solana blockchain platform, swiftly garnered attention and experienced astronomical price increases, reaching triple and even quadruple digit percentages at one point.
The peak occurred in mid-November following its listing on Binance, where it reached an unprecedented high of $2.44. However, since then, the asset’s progress has slowed significantly and it plunged to $0.47 yesterday, resulting in a decline of almost 80% from that peak value.
Over the last day, the asset has experienced notable improvement, jumping back from its low point by double-digit percentages and exceeding the $0.6 mark for the first time in several weeks.
Following a positive encounter with the biggest U.S. cryptocurrency exchange, Coinbase, the team has decided to extend their platform’s compatibility to a popular meme token within the Solana blockchain. Trading of this token commenced approximately 60 minutes ago, at 9 AM Pacific Time.
Coinbase is going to enable Peanut the Squirrel (PNUT) transactions on the Solana network (SPL token). Make sure not to move this digital asset across other networks, as your funds might get lost. Transfers for this token are now accessible on both @Coinbase and @CoinbaseExch in regions where trading is supported.
— Coinbase Assets ️ (@CoinbaseAssets) January 13, 2025
The team additionally advised users to exercise caution while moving funds since Coinbase will initially only handle PNUT on the Solana network.
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2025-01-14 20:46