- Elon Musk’s influence triggers market shifts in PNUT.
- PNUT price rose over 10% after Musk’s tweet.
- Highlighted Solana’s capacity for rapid transactions.
In a significant market moment, Solana-based meme coin PNUT experienced a 10% price surge following Elon Musk’s tweet on July 8, 2025.
Elon Musk’s tweet about a fictional squirrel, Peanut, critiques inaction on high-profile legal issues, triggering speculative interest in PNUT. The surge highlights Musk’s influence on crypto markets, replicating previous impacts on tokens like DOGE and FLOKI.
The rapid rise in PNUT’s value can be attributed to Musk’s social media presence, known for sparking sharp movements in cryptocurrency prices. The tweet’s impact underscores the volatility of meme coins, often fueled by social media-driven speculation.
“They arrested (and killed) Peanut, but have not even tried to file charges against anyone on the Epstein client list. Government is deeply broken.” – Elon Musk, CEO, X
The event created a flurry in trading activity, demonstrating Solana’s ability to handle high transaction volumes swiftly. Trading volume increased by 80%, showcasing the speculative nature of meme coins on Solana’s network.
The financial implications remain significant, with PNUT’s market cap reaching $223 million. However, there has been no direct institutional investment or regulatory response noted, emphasizing the meme coin’s reliance on social media influence rather than fundamental factors.
Historical patterns suggest a potential quick reversal in PNUT’s value. Previous events driven by Musk’s comments have shown short-lived price hikes in meme assets, raising questions about sustainable investment grounded in fundamental growth.
