Coinbase has confirmed that it will support trading for the meme coin Peanut the Squirrel (PNUT) on the Solana (SOL) network, with the official launch scheduled for January 14, 2025, at 9:00 am PT, contingent on liquidity conditions. The exchange will initially launch the PNUT-USD trading pair in phases once a sufficient supply of the asset is secured. The listing may also be subject to regional restrictions depending on local regulations.
Token transfers for Peanut the Squirrel are now available on both Coinbase and Coinbase Exchange, though accessibility will vary depending on regional support.
The announcement follows a roadmap inclusion from Coinbase in December 2024, which indicated plans to list the meme coin. Peanut the Squirrel (PNUT) first gained widespread attention in November 2024 after the controversial killing of a pet squirrel, sparking outrage across social media and leading to the creation of the meme coin. At its peak on November 14, 2024, PNUT reached an all-time high of $2.47.
However, the token has faced significant losses amidst the broader downturn in the cryptocurrency market. As of January 13, 2025, PNUT had fallen to $0.46, marking a 79% decline from its peak value. The broader market downturn, including Bitcoin’s retreat to $90,000 and Ethereum’s dip below $3,000, has contributed to these declines. Despite the drop, PNUT saw a brief rise to $0.51 following the Coinbase announcement.
As the meme coin market continues to experience volatility, the success of PNUT’s listing on Coinbase will depend on the token’s ability to regain traction and stabilize amidst broader market conditions.
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