- Coinbase to launch PNUT trading on January 14, pending liquidity requirements.
- PNUT has plunged 79% since its $2.47 all-time high in November 2024.
- The meme coin’s origin tied to a viral pet squirrel controversy.
Coinbase is adding support for Peanut the Squirrel (PNUT), a Solana-based meme coin, with trading set to begin on January 14, 2025, at 9:00 am PT—assuming liquidity conditions are met. The exchange announced that trading on the PNUT-USD pair will roll out in phases once there’s sufficient supply. However, they noted that regional restrictions might apply.
Currently, token transfers are already enabled on both Coinbase and Coinbase Exchange, though availability depends on regional trading regulations.
The Rise of PNUT: From Controversy to Meme Status
PNUT’s journey to crypto stardom began in November 2024, sparked by an unusual and controversial event: the killing of a pet squirrel. The incident quickly turned into a viral moment, triggering outrage online and inspiring the creation of Peanut the Squirrel as a meme coin.
In just weeks, PNUT captured the attention of crypto enthusiasts, peaking at an all-time high of $2.47 on November 14. It became a symbol of how unpredictable—and occasionally absurd—the crypto world can be, especially on platforms like crypto Twitter.
PNUT Faces Market Struggles Amid Broader Crypto Sell-Off
Despite its viral rise, PNUT hasn’t been immune to the broader crypto market’s downturn. By January 13, 2025, the token hit a low of $0.46, reflecting a staggering 79% decline from its peak. Contributing to this slide, Bitcoin dipped below $90,000, and Ethereum fell under $3,000 amid increased sell-offs.
Over the past month, PNUT has lost 30% of its value, including a 13% drop in the last 24 hours. Following Coinbase’s announcement of its listing, the token was trading slightly higher at $0.51.
Final Thoughts: A New Chapter for PNUT
The Coinbase listing could provide PNUT with a much-needed boost, but its future will depend on how the broader market recovers and whether it can reignite the enthusiasm that once surrounded it. With a wild backstory and a volatile price history, PNUT is a prime example of the unpredictable nature of meme coins in the crypto space.
