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The cryptocurrency market continues to react to Elon Musk’s influence, with yet another unexpected development. Recently, a pet squirrel named Peanut became a hot topic in U.S. political discussions due to plans to euthanize it, sparking online debates and drawing criticism toward the Biden administration from Donald Trump supporters.
As a vocal Trump supporter, Musk has been actively commenting on the situation, drawing even more attention to the story.
Musk’s Influence on Pnut Coin’s Price
Following the squirrel’s story, a new memecoin named Pnut was launched, inspired by the pet’s name. Shortly after its release, Musk tweeted about the squirrel, referring to it as “Pnut,” which caused a rapid spike in the token’s price.
Data from Arkham reveals that a whale investor bought approximately $95,400 worth of Pnut tokens just before the price surge. At one point, this whale faced a nearly 50% loss but chose not to sell. However, after Musk’s tweet, the value of their Pnut holdings skyrocketed to $1.3 million.
For more updates on how Elon Musk and political events impact the crypto market, stay tuned to Turkish NY Radio.
