PNUT rises nearly 9% after debut on OKX platform

Cryptocurrency exchange OKX recently launched PNUT, the meme coin inspired by the viral squirrel peanut, on its platform. The squirrel-token is rising by nearly 9% only minutes after the OKX launch.

OKX, one of the largest centralized exchanges by trading volume, announced that it is adding the Peanut the Squirrel(PNUT) meme coin to its platform. The Solana-based meme coin is available for spot trading with Tether(USDT) starting Nov. 11 at 10:30 AM UTC.

Five minutes after OKX announced PNUT’s launch, the meme coin rose by 8.42% and is currently trading hands at $0.4489, according to data from DEX Screener. At the time of writing, the PNUT token has accumulated a market cap of nearly $450 million and a fully diluted volume of $448.6 million.

PNUT’s launch on OKX came only a few hours after Binance announced PNUT will be making its debut on the platform on Nov. 11 at 10:00 AM UTC. In the past 24 hours, PNUT’s price has skyrocketed by 332%, mainly due to its Binance listing alongside another viral meme coin, Act 1: The AI Prophecy also known as ACT.

PNUT price chart minutes after its launch on crypto exchange OKX, November 11, 2024 | Source: DEX Screener

According to OKX’s announcement, traders can start deposition PNUT from its opening time at Nov. 11 9:20 UTC. Meanwhile, its call auction period starts from Nov. 11 9:40 AM UTC until 10:40 AM UTC.

Although, traders can only start withdrawing the PNUT token after Nov. 12 10:00 PM UTC. The crypto-exchange notes that the total issuance for PNUT is currently at 999.8 million tokens.

The PNUT meme coin was launched in early November, shortly after the death of viral internet squirrel, Peanut. On Oct. 30, Peanut was seized from the home of its owner, Mark Longo, by the New York City due to anonymous complaints.

The NYSDEC allegedly euthanized Peanut, causing public outcry among animal rights activists and ordinary people, including Elon Musk, who saw the squirrel as symbol of unnecessary government overreach.

The crypto community paid tribute to Peanut by establishing several meme coins in its honor. The leading Peanut meme coin is the Solana-based PNUT, which reached a trading volume of $300 million and 200,000 transactions in just two days.