Six years ago, a heroic squirrel became a viral meme on Reddit.
Six years ago, a heroic squirrel became a viral meme on Reddit. Today, in the wake of the 2024 presidential election, Elon Musk made a reference to it that sent the digital crypto markets into a tizzy. The tech billionaire posted cryptically, "The prophecy has been fulfilled," while bringing renewed attention to the infamous tale of Peanut the Squirrel, driving remarkable gains in a related meme coin.
The post included a reference to an old Reddit meme that reads, "You swerve to avoid a squirrel. Unknown to you, the squirrel pledges a life debt to you. In your darkest hour, the squirrel arrives," which included a picture of an armored squirrel. The timing of Musk's reference is no accident; it comes on the heels of the surprisingly politicized story of Peanut, a social media celebrity squirrel whose euthanization by New York state authorities became an unexpected political flashpoint in the presidential campaign.
The euthanization of Peanut, for allegedly having rabies, infuriated Trump supporters. During the peak of the incident, Musk himself chimed in and said, "President Donald Trump will save the squirrels," in a message of condolence that rankled many voters.
The emotional response to Peanut's story has spawned the bizarre financial phenomenon of a Solana-based cryptocurrency called Peanut the Squirrel (PNUT). The token has gained an astonishing 585% since Trump's election victory, leveraging its market capitalization to $482 million. Following Musk's latest social media post, it has surged another 64% to trade at a market cap of $850 million.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators.
This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice.
The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
