Elon Musk and PNUT Token Price Explosion, What’s the Connection?

Jakarta, Pintu News – Elon Musk’s recent controversial remarks on social media have triggered a surge in the price of Solana-based Peanut the Squirrel (SOL) tokens. In a tweet, Musk took a swipe at the US government for failing to address Jeffrey Epstein’s client list, which caused a significant crypto market reaction.

Elon Musk Sues for Justice

Elon Musk, with his large following on social media, often influences the market with his comments. This time, a tweet mentioning “Peanut” and criticizing the US government’s handling of the Epstein case, was viewed more than 13.7 million times within hours.

This sparked speculation among traders linking “Peanut” to the PNUT token in the crypto market. The impact was immediate, with the price of PNUT jumping from around $0.22 to $0.23 in just a short period of time. This shows how the influence of a public figure can dramatically change market dynamics in an instant.

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Market Reaction to Viral Memes

Meme tokens like PNUT often rely heavily on hype to increase their value. After Musk’s tweet went viral, demand for PNUT increased sharply with purchases outpacing sales.

This drove the price momentum higher. Crypto bots and retail traders rushed to not miss this wave. Some investors claimed to have moved funds into PNUT just minutes after seeing Musk’s tweet. This shows how quickly the market reacts to social media trends in the crypto world.

Token Surge Triggers Trading Frenzy

Solana’s (SOL) fast network aids in the handling of these transactions. Transactions can be completed in seconds, allowing traders to react seamlessly.

This low transaction fee environment was very supportive of the rally coin meme; when hype arose, people could buy or sell without worrying about high transaction fees. In this case, the trading volume jumped from around $120 million to $214 million in less than a day.

Conclusion

Despite the enthusiasm, crypto veterans advise caution. Gains made on PNUT tokens could be quickly reversed due to the nature of meme tokens that lack strong fundamentals and hype that fades quickly. Traders may face losses if market sentiment changes or if Musk moves on to his next prank.

For now, Musk’s satirical tweets have put Peanut the Squirrel in the limelight, but whether PNUT can maintain its gains still depends on the next viral moment and whether investors remember to take profits before the situation changes.

Also Read: Here are the Shocking Facts Behind Altcoins: Can it really be more profitable than Bitcoin?

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Elon Musk Drops Epstein Peanut Bomb, PNUT Coin Explodes 10%. Accessed on July 10, 2025