CandleFocus Trader turns $44,800 into $1.4 million with Peanut (Pnut) the squirrel
2024-11-03
Author: Content Editor
The article discusses the story of Peanut, a squirrel that was seized and euthanized by New York State authorities, leading to widespread outrage. This incident sparked the creation of a memecoin called Peanut the Squirrel (Pnut), which saw a trader turn a $44,800 purchase into a $1.4 million sale, profiting $1.3 million. The article also highlights the speculative nature of memecoins and the risks associated with insider trading and rug pulls. Additionally, it mentions that Pnut surpassed a $120 million capitalization before retracing below the $100 million market cap level. The incident has caused a social media firestorm and garnered attention from public figures, with many demanding changes in wildlife policies. Mark Longo, the owner of Peanut, plans to set up a fundraiser in the squirrel's memory and pursue legal action against the state.
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