Coinbase to Start Trading PNUT Meme Coin on January 14.
Coinbase will list Peanut the Squirrel (PNUT) meme coin on Solana Network, trading is set to begin on January 14. But this will be affected by liquidity conditions.
This marks a significant development for the Solana meme token, which reached a market capitalization of over $2 billion back in November but lost more than 50% in recent liquidations.
PNUT surges nearly 10% after Coinbase listing
Coinbase adds Peanut the Squirrel (PNUT) to its listing plans December 11th. After a month, meme coins will finally begin trading on U.S. exchanges this week.
News of the listing is a significant boost for the meme coin. Over the past month, PNUT has struggled to maintain any support levels. In November, the token was Top 5 meme coins in the market.
since then, PNUT has lost more than 50% of its valuewith a current market capitalization of just over $500,000.
“Coinbase will be adding support for Peanut the Squirrel (PNUT) on the Solana network (SPL token). If liquidity conditions are met, trading will begin on or after January 14, 2025 at 9am PT. Once the asset Supply is sufficient and trading on our PNUT-USD trading pair will launch in phases. Support for PNUT may be limited in some supported jurisdictions.” Coinbase Announce.
Today’s listing announcement showed PNUT rising 10% in an hour, but the meme coin was still down 13% on the day. The token’s daily trading volume has also surged by more than 90%, according to CoinMarketCap data.
Coinbase’s listing is relatively late as other major exchanges such as Binance, Bybit and Bitget have listed same corner Very early. PNUT is also Recently listed by web3 payment Infrastructure provider Transak.
Meme coins are created and Launched via Pump.fun November 2024. It features the popular social media pet “Peanut the Squirrel,” whose owner is New York resident Mark Longo.
However, the peanuts were confiscated and euthanized by state environmental regulators. This sparked an outcry on social media, Anonymous developer launches PNUT meme coin.
Although society Quickly gained support for the tokenLongo quickly proposed litigation Against Binance. Longo accused Binance of using his image (IP) without permission to support meme coins.
Despite these challenges, PNUT has attracted significant speculative interest in recent months.
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