Coinbase Lists PNUT Token, Trading Begins Today on Solana Network  

• Coinbase begins PNUT trading on the Solana network with phased rollouts to ensure liquidity and stability for investors.  
• Solana-only transfers for PNUT are essential to avoid irreversible fund losses, per Coinbase’s warning to users.  
• Previous Coinbase listings of meme coins like BONK and GIGA saw substantial price surges post-listing.  

Coinbase has officially listed Peanut the Squirrel (PNUT), a meme token on the Solana blockchain, marking another addition to its expanding cryptocurrency portfolio. Trading for the PNUT-USD pair will start today, contingent on adequate liquidity. This phased launch strategy maintains market stability while accommodating growing investor interest.  

According to Coinbase’s announcement on X (formerly Twitter), trading will progress in steps as liquidity builds. This approach has been employed in previous listings to prevent sudden volatility and ensure a seamless experience for traders.  

Solana Network Exclusivity Ensures Safety  

Coinbase has highlighted the need for caution when handling PNUT transactions. The exchange has advised users to conduct all PNUT transfers exclusively on the Solana network. Transfers via unsupported networks could result in the permanent loss of funds. The official Solana contract address for PNUT begins with “2qEHjDLDL…56P1tpump,” and users are encouraged to verify details before making transfers.  

While the PNUT trading feature will roll out to a broad range of users, Coinbase has indicated that certain regions may encounter restrictions. The company plans to release updates regarding specific regional access as the trading phases progress.  

Potential Price Movements Post-Listing  

Coinbase listings have historically served as catalysts for notable price movements in newly listed assets, particularly meme tokens. PNUT already witnessed a 20% surge on December 11 when the listing was announced. The token price briefly peaked at $1.35 before stabilizing around $1.25.  

Notably, other meme tokens like BONK and GIGA experienced significant price surges following their Coinbase debuts. BONK soared by 627% within a month, while GIGA and TURBO achieved gains exceeding 60%, with TURBO reaching a market cap of $922 million.  

Optimism for PNUT’s Trading Debut  

The PNUT listing aligns with Coinbase’s efforts to diversify its offerings and cater to the rising demand for meme tokens. As trading begins, investors are anticipating potential price increases, driven by heightened exposure and liquidity on the platform.  

With PNUT trading now live, market participants are closely monitoring its price trajectory, fueled by Coinbase’s robust user base and global reach.