Editing Peanut the Squirrel

**Peanut the Squirrel** (ticker **PNUT**) is a [[Solana]] memecoin named after a pet squirrel seized and euthanised by New York State officials in October 2024.[^1] Created by an anonymous party on [[pump.fun]], it was listed on Binance on 11 November 2024 and peaked at a $2.25 billion market cap three days later.[^2][^3][^5]

## Lore
Peanut was kept by Mark Longo, who took him in as an orphan about seven years earlier and ran his social media accounts, which had more than 600,000 followers.[^1] According to Longo, the New York State Department of Environmental Conservation seized Peanut and a raccoon named Fred on 30 October 2024 and euthanised both.[^1] The case drew comment from Elon Musk, JD Vance and Donald Trump Jr. in the days before the 2024 US presidential election.[^2]

By 3 November 2024 the Solana PNUT token had reached about $120 million in market cap; copies launched on BNB Chain, and a Fred-themed token, FRED, also traded.[^1] On 11 November Binance listed PNUT for spot trading with a "Seed Tag", alongside [[Act I: The AI Prophecy]], and PNUT rose from $129 million to $447.5 million within hours.[^3] It hit an all-time high price of $2.44 on 14 November 2024.[^4] Coinbase added PNUT to its listing roadmap on 11 December 2024.[^4]

In May 2025 PNUT rose 55% in a day, trading about 80% below its peak, in a rebound that also lifted [[Moo Deng]] and [[Just a chill guy|CHILLGUY]].[^6]

## Timeline
- 2024-10-30: Peanut seized and euthanised, according to Longo[^1]
- 2024-10-31: coin launches on pump.fun[^3]
- 2024-11-03: market cap around $120 million[^1]
- 2024-11-11: Binance spot listing[^3]
- 2024-11-14: all-time high; market cap $2.25 billion[^4][^5]
- 2024-12-11: Coinbase adds PNUT to its roadmap[^4]
- 2024-12-16: Longo sends Binance a cease-and-desist letter[^7]

## Controversies
Longo did not create PNUT. NPR's Planet Money reported that he said the creators "didn't include me and my family", that he sought a share, and that coins he launched himself collapsed.[^2] One of them, "Justice for Peanut and Fred" (JFP), which he called the "only real PNUT coin", fell more than 95%; some traders accused him of trading on Peanut's legacy.[^7]

In December 2024 Longo sent Binance a cease-and-desist letter alleging that its listing and promotion of PNUT infringed his copyright and trademarks, including a photo of Peanut in a cowboy hat and the marks "PEANUT THE SQUIRREL", "P'NUT" and "PNUT". It demanded compliance by 31 December 2024.[^5][^7] Binance did not respond publicly at the time.[^5]

## See also
- [[dogwifhat]]

## References
1. [Viral squirrel 'Peanut' triggers Solana memecoin frenzy](https://cointelegraph.com/news/viral-squirrel-peanut-triggers-solana-memecoin-frenzy), Cointelegraph, 2024-11-03
2. [The Parable of Peanut the meme coin: How a real-life squirrel became a cryptocurrency](https://www.hppr.org/2025-03-26/the-parable-of-peanut-the-meme-coin-how-a-real-life-squirrel-became-a-cryptocurrency), NPR Planet Money (via HPPR), 2025-03-26
3. ['Binance Effect': Peanut the Squirrel, Act I: The AI Prophecy Meme Coins Skyrocket](https://decrypt.co/291080/binance-effect-peanut-ai-prophecy-meme-coins-skyrocket), Decrypt, 2024-11-11
4. [Peanut the Squirrel Meme Coin Jumps on Coinbase Plans as Gigachad Hits All-Time High](https://decrypt.co/296034/peanut-squirrel-meme-coin-jumps-coinbase), Decrypt, 2024-12-11
5. [Binance accused of IP theft over PNUT token by Peanut the Squirrel owner](https://cointelegraph.com/news/peanut-squirrel-cease-desist-binance-ip-dispute), Cointelegraph, 2024-12-16
6. [Last Year's Viral Meme Coins Are Back From the Dead as Solana and Ethereum Gain](https://decrypt.co/318814/viral-meme-coins-back-dead-solana-ethereum), Decrypt, 2025-05-09
7. [Binance Faces Cease-and-Desist Over Its Listing of PNUT Meme Coin](https://decrypt.co/296740/binance-cease-desist-pnut-meme-coin), Decrypt, 2024-12-16
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