PNUT price surges by 300% following Elon Musk’s subliminal tweet  

PNUT surged to a price level of $1.70 with its market capitalization shooting past $170 million just days after its launch.

The surge was driven by increased investor activity around the memecoin after the Elon Musk Tweet.

PNUT is a popular memecoin inspired by “Peanut the Squirrel” powered by the Solana Blockchain. Peanut the Squirrel made the rounds in the news during the election cycle as it became a source of controversy dividing American voters.

Elon Musk yesterday commented on how the controversy surrounding Peanut the Squirrel played a role in altering the voting pattern of America.

Elon Musk started by tweeting a peanut emoji in response to a post complaining about government wastage.

He followed up with a reply to another comment on how America was saved by a squirrel and a memecoin.

“America was saved by a squirrel and a meme coin!  

The Tweets were interpreted as a silent endorsement of PNUT the memecoin resulting in its price surging by 300% and increased trading activity.

PNUT witnessed its trading volume surge to over $2 billion as investors and traders rushed to take part in the hype.

Aside from PNUT, other Solana Memecoins are also rallying in price. ACT experienced a 2,700% surge over the past week and Bonk rose 50% to trade at $0.00003. Analysts wonder whether the PNUT rally will lead to another rally of Solana memecoins in the market.

Other crypto assets like Bitcoin surged to new heights smashing its all-time high and recently went as high as $93,000.

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