A sudden social media jab sent Solana’s Peanut the Squirrel token soaring this week. In a Tuesday post, billionaire Elon Musk criticized US authorities for ignoring names on the Jeffrey Epstein “client list”, quipping that “more squirrels and raccoons have been arrested” than any Epstein affiliates.
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A nod to a squirrel named Peanut—said to have been “arrested (and killed)”—coincided with a sharp pop in the PNUT token’s value. According to on‑chain data, PNUT climbed over 10% in 24 hours, touching $0.23 at one point.
Elon Musk Highlights Justice Concerns
Based on reports, Musk’s post racked up more than 13.7 million views within hours. Traders quickly linked “Peanut” to the PNUT ticker. Almost immediately, PNUT price rose from about $0.22 to $0.23.
Peanut price up in the last 24 hours. Source: Coingecko
The token’s 24‑hour trading volume jumped roughly 80%, crossing $215 million. Market watchers estimate PNUT’s market cap now sits near $224 million, out of a total supply approaching 1 billion tokens.
Market Reaction Follows Viral Meme
Meme tokens often depend on hype, and PNUT was no exception. After Musk’s message spread, order books filled fast. Buy orders outnumbered sells, driving price momentum.
Crypto bots and retail traders piled in, hoping to catch the wave. Some investors told reporters they moved funds into PNUT within minutes of seeing Musk’s post.
They arrested (and killed) Peanut, but have not even tried to file charges against anyone on the Epstein client list.
Government is deeply broken. pic.twitter.com/YndRadQUBE
— Elon Musk (@elonmusk) July 8, 2025
Token Jump Drives Trading Frenzy
Solana’s speedy network helped too. Transactions cleared in seconds, letting traders react without delay. That low‑fee environment amplifies meme coin rallies: when hype hits, people can buy or sell without worrying about high gas costs. In this case, volume spiked from around $120 million to $214 million in under a day.
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Looking Ahead, Caution Advised
Despite the rush, crypto veterans warn that PNUT’s gains could reverse just as fast. Meme tokens lack fundamentals, and hype fades quickly. Traders could face losses if views shift or if Musk moves on to the next joke.
For now, Musk’s satirical jab has put Peanut the Squirrel on center stage. Whether PNUT can hold its gains may depend on more viral moments—and on whether investors remember to take profits before the next twist.
No ‘Client List’
Meanwhile, according to a memo obtained by Axios, the Justice Department and FBI under US President Donald Trump found no evidence that convicted sex offender Jeffrey Epstein blackmailed powerful individuals, kept a “client list,” or was murdered.
Featured image from Meta, chart from TradingView
