Peanut cryptocurrency sharply increased in price — what does Elon Musk have to do with it.

The Peanut cryptocurrency (PNUT), built on the Solana blockchain, surprised the community recently by raising its price by 10%. This happened due to a humorous post by

Elon Musk

on social media X, where he shared a meme featuring a peanut. This single post triggered a real frenzy among traders, leading to a sharp increase in the token's price.

Memecoins like PNUT, Dogecoin, or Shiba Inu are a unique phenomenon in the crypto market, writes

CoinDesk

. They often emerge as a joke or a social experiment, but with the support of influential figures or viral content, they can achieve billion-dollar capitalizations.

The Musk Effect: why it works

Elon Musk has influenced the value of digital assets before. Since the days of Dogecoin and Floki Inu, his jokes, memes, and informal mentions have frequently sparked waves of frenzied demand. With his over 180 million followers, even a brief post in the style of 'nothing makes sense, but it's funny' can significantly change market behavior.

What happened after the meme

After the meme was published, the price of PNUT soared, but it wasn't the only one. The volume of short-term trades sharply increased. Speculators took advantage of the momentum and flooded into positions. Within a few hours, the token made it to the top 10 most actively traded memecoins in the Solana ecosystem based on trading dynamics.

Experts' warnings

Despite the short-term enthusiasm, experts advise against perceiving such movements as long-term investment opportunities. Memecoins are extremely volatile, and what rises by 10% today may fall by 50% tomorrow.

Such assets generally lack stable support from major players or real businesses, making them too vulnerable to external signals. Musk's meme can provoke a rise, but nothing prevents him from posting a new joke tomorrow that shifts audience attention to another token.

What is Peanut and does it have potential

Peanut is one of the many memecoins that have emerged in the Solana ecosystem. Its main idea is playfulness, humor, 'community for the sake of community'. Like many mem-assets, it lacks technical innovation or special features. Its main value is the excitement.

Unlike more well-known Dogecoin or Shiba Inu, PNUT currently lacks mass recognition outside of niche crypto forums. However, such a sudden hype following Elon Musk's meme could be an entry point for a broader audience — provided that developers can capitalize on the moment.

Meme economy: unstable but alive

The phenomenon of memecoins is a reflection of the modern internet. Jokes, irony, reactions — all of this translates into a cash flow. Therefore, such stories are not exceptions but part of the cryptocurrency reality.

The meme economy is an emotional market. Here, it's not the news that decides but the vibe. And if someone considers it absurd — the market disagrees. Memecoins amass capitalizations in the billions of dollars. So, as strange as it may sound, Elon Musk's memes have economic weight.

Under the influence of Elon Musk's joke, the cryptocurrency PNUT significantly increased in price over a short period, attracting the attention of traders and speculators. Memecoins replicate the unique phenomenon of the crypto market, where a joke or social experiment can suddenly change the market landscape. Experts, however, remind that such assets are extremely volatile and risky for long-term investments.