The tragic death of a famous internet squirrel Peanut has caused controversy in the United States. Its owner said authorities took the animal away from him and forcibly euthanized it.
The story has sparked a surge in interest in the crypto community for the Solana blockchain meme coins based on the squirrel.
Internet star seized from owner, Musk blames Democrats
Peanut’s owner, Mark Longo, ran a popular Instagram account sharing moments from his pet’s life. His page has over 600,000 followers, and videos of the squirrel often go viral. Longo rescued him about seven years ago after witnessing a car accident that killed Peanut’s mother. Given his injuries, Longo decided that Peanut would not be able to survive in the wild, and he took the squirrel under his wing.
However, after several anonymous complaints, the New York City Department of Environmental Conservation visited his home and confiscated Peanut and a raccoon named Fred. Longo said the search of his farm, P’Nuts Freedom Farm, lasted five hours. The animals were later allegedly forcibly euthanized on suspicion of rabies.
Peanut sparks meme coin rally
The situation surrounding Peanut has attracted the attention of the crypto community. In response to the news, tokens dedicated to this animal began to appear on the network. According to the DEX Screener platform, the number of Solana-based meme coins associated with the squirrel has reached dozens.
Monitoring resources report that the market capitalization of many of these coins has rapidly increased to several million dollars. At the same time, two thematic meme coins entered the top ten leaders in daily trading volume on DEX Screener.
That could all change soon
The phenomenon of viral events being converted into blockchain assets is nothing new. However, the success of tokens associated with Peanut and Fred highlights how closely the meme coin market is tied to social media trends and public emotional reactions to events.
While platforms like Instagram and X have become the main channels for spreading the story of Peanut and Fred, decentralized systems like Solana have allowed fans to translate their emotions into financial assets, creating a new form of self-expression through digital ownership.
However, experts warn that the upcoming U.S. elections could unexpectedly impact the meme coin market. Analysts predict possible volatility as investors react to political events. Experts note that the crypto market, including niche instruments like meme coins, often responds to changes in public sentiment caused by political factors.
Positive results for cryptocurrency supporters could increase investment, positively impacting popular tokens like Dogecoin Dogecoin
doge - 3.39%
Dogecoin and Shiba Inu Shiba Inu
shib- 1.87%
Shiba Inu. On the other hand, tighter regulations or policies unkind to cryptocurrencies could reduce interest in speculative investments and cause prices to fall as traders seek more reliable assets.