Solana-Based Peanut the Squirrel (PNUT) Soars After Coinbase Adds Memecoin to Listing Roadmap

One Solana (SOL)-based memecoin is going parabolic after top US crypto exchange Coinbase added the digital asset to its listing roadmap.

Coinbase announced adding Peanut the Squirrel (PNUT) to the roadmap, triggering a more than 31% gain Wednesday.

PNUT is trading for $1.34 at time of writing. With a market cap of $1.3 billion, the memecoin is the 111th largest crypto project.

Coinbase uses the listing roadmap for transparency and to prevent insider trading on coins prior to them being listed. Being placed on the listing roadmap means the firm has determined the asset will likely be available for trading in the future.

PNUT is just one of several memecoins Coinbase has to its platform for trading in recent weeks. Others include Gigachad (GIGA), a crypto asset inspired by the photo shoot of Russian bodybuilder Ernest Khalimov, Turbo (TURBO), a GPT-4 inspired memecoin, MOG Coin (MOG), a memecoin available on both the Ethereum (ETH) and Base blockchains, and Moo Deng (MOODENG), a Solana-based memecoin.

Last month, the world’s top exchange Binance listed PNUT for trading and the memecoin surged by more than 320%.

PNUT is inspired by the squirrel rescued by a New York family named Peanut. The squirrel became popular on the family’s TikTok videos and Instagram, but New York wildlife officials seized the animal based on state laws that prohibit keeping squirrels as pets.

The squirrel was euthanized on October 30th, which became a viral incident.

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Featured Image: Shutterstock/Jorm S