Peanut the Squirrel was a real squirrel rescued and raised by Mark Longo, a content creator in upstate New York. For seven years, Peanut lived in Longo’s home, became a viral social media star, and was beloved by millions of followers. In late October 2024, the New York Department of Environmental Conservation seized and euthanized Peanut, citing wildlife regulations. The internet erupted in outrage.
Within hours of Peanut’s death becoming public, multiple memecoins launched on Solana under the PNUT ticker. The most successful version exploded to a multi-billion-dollar market cap within days. The story tied perfectly into the political moment: Peanut’s death was framed as government overreach, just days before the 2024 US presidential election. Elon Musk tweeted about it. Donald Trump mentioned it on the campaign trail. PNUT became a political memecoin almost by accident.
By the time the election ended on November 5, 2024, PNUT was trading at a $2 billion valuation and had been listed on every major exchange. It was the fastest memecoin in history to achieve mainstream financial market integration. The squirrel that had been killed by bureaucrats had become a symbol of resistance and a multi-billion-dollar asset all at once.
The PNUT story crystallized something fundamental about the 2024 memecoin cycle: emotional resonance plus a narrative villain plus a tragic protagonist could create a token faster than any business plan. Peanut’s death was real grief for some, opportunism for others, and a market signal for everyone. The line between mourning and trading had completely collapsed.
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