Peanut The Squirrel Outshines Dogecoin, Shiba Inu With 1,400% Weekly Surge

Peanut The Squirrel PNUT/USD has posted a stunning 1,400% gain over the past week, gaining traction after Elon Musk's endorsement of the meme coin.

What Happened: PNUT has entered the top 10 meme coins by market capitalization, with its $5.8 billion in 24-hour trading volume exceeding that of bigger rivals like Shiba Inu SHIB/USD and reaching 20% of the trading volume of the much bigger Dogecoin DOGE/USD.

One major investor, who invested around $2.8 million in PNUT between Nov. 3 and Nov. 10, now holds 26.72 million PNUT worth $56.64 million, making them the largest individual holder.

Lookonchain reports that this investor made his first major profit from the meme coin in just days, and his holdings skyrocketed after the coin was listed on Binance.

Another trader, Kakashi, turned a small investment of $17 PNUT into a $3 million payout.

Cryptocurrency	Price	Market Cap	24-Hour Trend	7-Day Trend
Peanut the Squirrel	$1.95	$1.95 billion	+26.5%	+1,464%
Dogecoin	$0.3975	$58.2 billion	-8.1%	+111%
Shiba Inu	$0.00002525	$14.9 billion	-9.5%	+35%

Trader Notes: Peanut-focused trader Marcell points out that anyone who hesitated to buy PNUT at earlier market caps of $30M, $60M, and $100M is now watching it reach $2.4 billion with no signs of slowing down.

Thanks to Musk's influence and growing community support, PNUT is predicted to emerge as the top meme coin, potentially "breaking the chart" as mainstream interest swells.

Community News: In response to community demand, decentralized exchange Hyperliquid has announced that PNUT will now be available for long or short positions with up to 5x leverage.

In addition, the meme coin's deployer donated 1 billion PNUT (worth $35,400) to Vitalik Buterin's address to support animal protection efforts.

Read Next: 

• Elon Musk-Endorsed Peanut The Squirrel Surges 270% To $1.5 Billion Valuation: ‘Only More Wild Moves Ahead,’ Says Millionaire Trader

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