CandleFocus Fake News: Trump is not the largest holder of Peanut the Squirrel (PNUT)
2024-11-11
Author: Content Editor
The crypto news outlet CoinTelegraph claimed that President-elect Donald Trump was the largest holder of the meme cryptocurrency Peanut the Squirrel (PNUT), but data from Arkham Intelligence shows that Trump has no wallet connected to PNUT. Despite this, PNUT has experienced a significant rally, with its price increasing by 326.55% in the last day and its market cap skyrocketing to $405 million. The token's surge can be attributed to its listing on Binance and Crypto.com and an endorsement from Elon Musk. However, it is important to approach PNUT's rise with caution as meme coins are highly volatile and many have "died" due to unsustainable price pumps and limited utility.
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