Peanut the Squirrel (PNUT) is a meme-inspired cryptocurrency token operating on the Solana blockchain. Like many meme coins, its value is heavily influenced by community sentiment, social media trends, and market speculation. This article provides a detailed look at its current market performance, key metrics, and essential information for anyone monitoring this digital asset.
Real-Time Price and Performance
As of the latest data, the live price of Peanut the Squirrel (PNUT) is $0.2294**. The 24-hour trading volume stands at **$663,206, indicating the level of market activity for the token.
Recent performance shows a mixed picture:
- 24-hour change: -7.72%
- 7-day change: +13.78%
- 30-day change: -14.97%
This volatility is characteristic of meme coins, which can experience rapid price swings based on trader sentiment and online buzz.
Key Market Metrics
Understanding a token's core metrics is vital for assessing its position in the broader cryptocurrency market.
- Market Capitalization: $228.85 Million. This value, which ranks PNUT at #123 among cryptocurrencies, is calculated by multiplying the current price by the circulating supply.
- Circulating Supply: 999,852,465 PNUT.
- Max Supply: 1,000,000,000 (1 Billion) PNUT.
- All-Time High (ATH): $2.46. The current price is down approximately 90.71% from this peak.
- All-Time Low (ATL): $0.0339. The current price represents a significant increase of over 575% from this lowest point.
These figures paint a picture of a token that has seen explosive growth from its inception but has also experienced substantial corrections from its highest valuations.
Factors Influencing PNUT's Price
The value of meme coins like Peanut the Squirrel is driven by a unique set of factors beyond traditional financial fundamentals.
1. Community Engagement and Hype: A dedicated and active community is the backbone of any successful meme coin. Strong social media presence and community-driven initiatives can generate positive sentiment and drive demand.
2. Social Media and Influencer Impact: Mentions and discussions by high-profile individuals can cause immediate and dramatic price movements. Significant attention from influential figures has previously brought waves of new interest to the token.
3. Exchange Listings: Being listed on major cryptocurrency exchanges greatly enhances a token's accessibility and liquidity. Listings on platforms like KuCoin allow a larger pool of traders to buy and sell the asset, often leading to increased trading volume and price appreciation.
4. Market Sentiment and Speculation: As a meme coin, PNUT's price is highly susceptible to overall market sentiment and speculative trading. This can lead to periods of high volatility, with prices rising and falling sharply based on trader psychology rather than intrinsic value.
5. Trading Volume: High trading volumes, which have reached hundreds of millions of dollars, reflect active market participation and can be a catalyst for sustained price movements, both upward and downward.
How and Where to Store PNUT
Security is paramount when holding any cryptocurrency. There are several methods for storing Peanut the Squirrel (PNUT) tokens:
- Exchange Wallets: Many holders choose to keep their tokens on the exchange where they were purchased for convenience. This is a custodial solution, meaning the exchange manages the private keys.
- Self-Custody Wallets: For enhanced security, moving tokens to a non-custodial wallet where you control the private keys is recommended. This includes software wallets (web, mobile, or desktop) that support Solana-based tokens (SPL tokens).
- Hardware Wallets: Considered the gold standard for security, hardware wallets store private keys offline, making them immune to online hacking attempts. Many popular hardware wallets support SPL tokens.
- Paper Wallets: For long-term, cold storage, a paper wallet involves generating and printing the public and private keys offline, though this method is less user-friendly for frequent transactions.
Always ensure you are using a verified and secure wallet application and never share your private key or seed phrase with anyone. For those looking to manage a diverse portfolio, you can explore more strategies for securing digital assets.
Frequently Asked Questions
What is Peanut the Squirrel (PNUT)?
Peanut the Squirrel is a meme coin on the Solana blockchain. Its value is primarily driven by community engagement, social media trends, and market speculation, rather than underlying utility or technology, which is typical for tokens in this category.
Is Peanut the Squirrel a good investment?
Investing in any meme coin, including PNUT, carries a high level of risk due to extreme price volatility. While it has seen periods of significant growth and boasts a strong community, its price is highly speculative. Potential investors must conduct thorough research and only invest what they are willing to lose.
What was the highest price for Peanut the Squirrel?
The all-time high price for PNUT was $2.46. The current price is significantly lower than this peak, demonstrating the high-risk, high-volatility nature of the asset.
What is the total supply of PNUT tokens?
The maximum supply of PNUT tokens is capped at 1 billion. The current circulating supply is just under 1 billion tokens, meaning almost all of the total supply is already in the market.
How can I convert Peanut the Squirrel to cash?
To convert PNUT to cash, you would typically sell your tokens on a supported cryptocurrency exchange for a stablecoin like USDT or a fiat currency like USD. You could then withdraw that fiat currency to your linked bank account. The process and availability depend on the features offered by your chosen exchange.
What drives the price of meme coins like PNUT?
The price is predominantly driven by online community sentiment, hype on social media platforms, endorsements from influencers, and speculative trading. Traditional valuation models often do not apply, making them unpredictable and risky. To stay ahead of market movements, you can view real-time tools that track these dynamics.