Peanut

Peanut the Squirrel

FRED

Elon Musk

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>A crypto trader made $56 million on PNUT amidst the coin’s rising popularity.</li> 
 <li>PNUT’s price rally was triggered mostly by Musk’s support and Binance listing.</li> 
</ul> 
A crypto trader made impressive gains on PNUT, amidst the rising popularity of the memecoin. 
On-chain data revealed by Lookonchain shows the trader’s transactions and how he ended up making over $56.6 million from the famous memecoin. 
<figure style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" src="https://pbs.twimg.com/media/GcVWaefa8AA4Uay?format=jpg&amp;name=large" alt="Lookonchain via X" width="1296" height="950" title="Crypto Trader Makes $56M From $PNUT 16">
 <figcaption class="wp-caption-text">
 Lookonchain via X
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</figure> 
<h2 id="largest-pnut-holder-over-56-million-in-gains">Largest PNUT Holder, Over $56 Million in Gains</h2> 
Lookonchain<a href="https://x.com/lookonchain/status/1856986284428071177" rel="nofollow" target="_blank"> analyzed</a> the trader’s recent transaction history before and after PNUT which led to gaining impressive amounts of money. 
Trading GOAT 
On-chain data shows that the trader started trading memecoins on October 16, and the first coin he bought heavily was GOAT. 
<figure style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" src="https://pbs.twimg.com/media/GcVWgHwaEAAN5W5?format=jpg&amp;name=4096x4096" alt="Lookonchain via X" width="2270" height="1066" title="Crypto Trader Makes $56M From $PNUT 17">
 <figcaption class="wp-caption-text">
 Lookonchain via X
 </figcaption>
</figure> 
His performance with this memecoin was not too notable because he often sold at low prices. However, he still holds 2.92 million GOAT worth almost $2.8 million, making a profit of over $574,600. 
<figure style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" src="https://pbs.twimg.com/media/GcVWgHvbkAEUU71?format=jpg&amp;name=4096x4096" alt="Lookonchain via X" width="2450" height="1108" title="Crypto Trader Makes $56M From $PNUT 18">
 <figcaption class="wp-caption-text">
 Lookonchain via X
 </figcaption>
</figure> 
Trading FLAVIA 
The trader also bought FLAVIA at a high price out of FOMO, making a common mistake. He reportedly invested $1.86 million, but only got back $303,000, losing $1.55 million. 
<figure style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" src="https://pbs.twimg.com/media/GcVWmS2bkAEZMXU?format=jpg&amp;name=4096x4096" alt="Lookonchain via X" width="2466" height="1160" title="Crypto Trader Makes $56M From $PNUT 19">
 <figcaption class="wp-caption-text">
 Lookonchain via X
 </figcaption>
</figure> 
Trading PNUT 
On November 2, when Elon Musk tweeted about Peanut the Squirrel, the price of <a href="https://crypto.ro/en/cryptocurrencies/peanut-the-squirrel/">PNUT</a> skyrocketed, and the trader decided to buy the memecoin as well. 
He only invited $15,500 in PNUT, and sold it quickly, making a small profit of around $1,500. 
<figure style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" src="https://pbs.twimg.com/media/GcVWp5RbkAQt792?format=jpg&amp;name=4096x4096" alt="Lookonchain via X" width="2434" height="1160" title="Crypto Trader Makes $56M From $PNUT 20">
 <figcaption class="wp-caption-text">
 Lookonchain via X
 </figcaption>
</figure> 
After doing more research on PNUT, from November 3 to November 10, the trader invested around $2.8 million to accumulate a large amount of the memecoin. 
<figure style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" src="https://pbs.twimg.com/media/GcVWvjrbkAIxssN?format=jpg&amp;name=4096x4096" alt="Lookonchain via X" width="2446" height="1158" title="Crypto Trader Makes $56M From $PNUT 21">
 <figcaption class="wp-caption-text">
 Lookonchain via X
 </figcaption>
</figure> 
He didn’t start selling some profits until Binance announced the listing of PNUT on November 11. On-chain data shows that he currently holds 26.72 million PNUT worth over $56 million, which makes the trader the largest individual holder of PNUT. 
<figure style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" src="https://pbs.twimg.com/media/GcVWvjqbwAAAELj?format=jpg&amp;name=4096x4096" alt="Lookonchain via X" width="2234" height="1036" title="Crypto Trader Makes $56M From $PNUT 22">
 <figcaption class="wp-caption-text">
 Lookonchain via X
 </figcaption>
</figure> 
Buying FRED 
In the past few days, the trader spent $671,000 to buy FRED having an unrealized profit of $1.24 million. 
<figure style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" src="https://pbs.twimg.com/media/GcVW1OHakAAQr-_?format=jpg&amp;name=4096x4096" alt="Lookonchain via X" width="2440" height="1146" title="Crypto Trader Makes $56M From $PNUT 23">
 <figcaption class="wp-caption-text">
 Lookonchain via X
 </figcaption>
</figure> 
Overall the individual traded 39 tokens and only 9 of them were profitable, having a win rate of 23%. 
He learned important lessons from his losing trades, and he made his significant profits only from PNUT and FRED, a memecoin on Tron. 
<figure style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" src="https://pbs.twimg.com/media/GcVW6dbbkAQSXVR?format=jpg&amp;name=4096x4096" alt="Lookonchain via X" width="2687" height="4096" title="Crypto Trader Makes $56M From $PNUT 24">
 <figcaption class="wp-caption-text">
 Lookonchain via X
 </figcaption>
</figure> 
PNUT has seen an impressive<a href="https://crypto.ro/en/news/pnut-price-reached-a-new-ath-at-1-42/"> price performance</a>, mostly supported by Musk’s tweets about Peanut the Squirrel and Binance’s <a href="https://crypto.ro/en/news/binance-will-list-act-and-pnut-with-seed-tag-today/">recent listing</a> of the memecoin. 
At the moment of writing this article, PNUT is trading at $1.81, up by almost 40% in the past 24 hours. The coin has a market cap of almost $1.8 billion.

Crypto Trader Makes $56M From $PNUT

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