Peanut the Squirrel, a meme coin, experienced a significant market rally following a tragic incident in New York, where officials seized and killed the pet squirrel that inspired the coin. This event led to a price surge as crypto investors reacted emotionally.
However, the surge was short-lived as the market corrected itself, and the PNUT coin witnessed a 50% drop in value. The sudden crash has left investors questioning the stability and safety of the meme coin market, particularly concerning PNUT.
The article from Cryptonews explores whether this coin could still be a safer bet for investors despite the volatility following the events around Peanut the Squirrel.
Meme coins have become known for their rapid price swings, inciting both intrigue and caution among traders. The case of Peanut the Squirrel highlights the ongoing risks and potential rewards associated with investing in such speculative cryptocurrency assets.
