PNUT price prediction: PNUT pumps another 126%

Peanut the Squirrel sees unprecedented gains, soaring 126% in a day and 1,500% this week, as the viral meme coin surges.

It has been a period of unprecedented triumph for Peanut the Squirrel, which has soared 126% in the past day.

The viral meme coin has also shot up 1,500% this week. Is it too late to buy, or is PNUT on route to becoming one of the industry’s top meme coins?

The Elon effect: Musk tweets rocket PNUT price

Outside of running multiple multi-billion dollar companies and orchestrating US politics, Elon Musk continues to find time to post about meme coins on social media.

In 2021, Musk played a pivotal role in getting Dogecoin to a market cap above $80 billion, but this time, he’s increasingly turning his attention to Peanut the Squirrel.

Unlike other meme coins such as Dogecoin, Peanut the Squirrel is simultaneously a cute “zoo-themed” meme coin, and also a political statement. 

PNUT was created in homage to a real-life pet squirrel called Peanut, who was famous online and had thousands of followers.

However, the squirrel was confiscated and euthanized by New York state government officials shortly before the US election, sparking massive outrage online. 

This helped fuel the Republican party’s policy of smaller government and less intervention. Since Republicans are also in favor of crypto, the subsequent emergence of Peanut the Squirrel meme coin was unsurprising.

Musk rallied for Trump in the elections and used Peanut the Squirrel as a call to vote.

As such, the meme coin’s growth soared. However, Musk didn’t stop talking about Peanut after the election.

Adding fuel to the fire, Binance listed PNUT on Monday, providing a massive pool of new investors to help it grow.

With Musk’s support and a listing on Binance, everything is in place for PNUT to keep running.

It currently has a $2 billion market cap. Let’s not forget that Dogecoin reached over $80 billion last cycle because of Musk.

Trader hails PNUT’s story

It’s rare for a meme coin to be born out of such a pivotal moment in history as the US election.

And with that, Peanut the Squirrel has fundamentals that are almost impossible to replicate.

So it’s no surprise traders are calling for big gains.

Analyst MoneyLord suggests it could reach a market cap between $30 and $100 billion this cycle, providing a 15-50x gain from its current price.

As PNUT’s recent performance shows, a lot can happen in a small amount of time in the meme coin space.

That said, with Trump set to be inaugurated as US president in January, Elon Musk will likely continue tweeting about Peanut the Squirrel, which creates a favorable environment for PNUT to keep surging.

With that, traders cannot rule out a $30 billion market cap or potentially even beyond.

PNUT’s rise underlines the importance of bringing something new to the meme coin market. Projects that stand out can see disproportionate growth in record time.

Another project that brings something new and is set to explode is Flockerz.

Could Flockerz explode like Peanut?

PNUT has shown that the meme coin space is not just about tired cats and dogs anymore – all animals have a shot at huge gains.

Flockerz is a quirky bird-themed meme coin which is currently undergoing a presale, allowing investors to buy in from the start.

But that’s not all. They’re also creating a Vote-to-Earn decentralized autonomous organization (DAO) which allows FLOCK holders to vote on every decision relating to the project’s future.