Peanut the Squirrel (PNUT) Jumps 30% Following Coinbase Trading Debut

Solana-based meme token Peanut the Squirrel (PNUT) jumped 30% following its trading debut on Coinbase, with the price rising from $0.46 to $0.60

Solana-based meme token Peanut the Squirrel (PNUT) price surged by 30% following its trading debut on Coinbase, with the price rising from $0.46 to $0.6, CoinGecko data shows.

Coinbase will add support for Peanut the Squirrel (PNUT) on the Solana network (SPL token). Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.

— Coinbase Assets ?️ (@CoinbaseAssets) January 13, 2025

The token began trading on Coinbase at 09:00 EST, and quickly surged by over 25%. At the time of writing, PNUT is trading at $0.54, still up 17% from its pre-listing price.

Coinbase will add support for Peanut the Squirrel (PNUT) on the Solana network (SPL token). Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.

— Coinbase Assets ?️ (@CoinbaseAssets) January 13, 2025

Trading volumes for PNUT have exceeded $761 million in the first 24 hours after Coinbase began offering the token on January 14.

The listing announcement follows Coinbase’s addition of PNUT to its roadmap last month, which triggered a 20% price increase at the time.

Tokens listed on crypto exchanges like Coinbase, Binance, or Upbit often see price surges due to increased visibility and investor interest. PNUT previously saw a 280% surge within 24 hours of its Binance listing announcement.

However, the meme coin currently trades 74% below its November peak, when its market capitalization surpassed $2 billion. The asset has since dropped out of the top 100 crypto assets by market value.

PNUT emerged on the pump.fun memecoin platform following viral coverage of a pet squirrel named Peanut, whose euthanasia by New York City’s Department of Environmental Conservation officials generated widespread social media attention, including reactions from Elon Musk and Donald Trump.

The price movement came amid a broader crypto market recovery after a Monday report from Washington Post said President-elect Donald Trump will prioritize the crypto industry on his first day of presidency through executive orders.