Elon Musk provoked a sharp rise in the little-known cryptocurrency Peanut

Editor’s note: not investment advice!

The Solana Peanut (PNUT) token grew by 10% after another joke post by Elon Musk on social network X. The billionaire, who has repeatedly influenced the meme-coin market with his publications, this time posted a meme with a peanut image, a hint of PNUT, which became an impetus for traders to become more active.

On the back of this post, PNUT’s trading volumes skyrocketed, and the token’s price instantly jumped. Some investors perceived the meme as a hidden buy signal, and speculators took advantage of the short-term wave of demand. Within a day, PNUT was among the fastest-growing meme coins on the Solana ecosystem SOL $156.55 Binance-Peg SOL 1.47% Market capitalization $0.17 billion VOL. 24 hours $0.39 billion .

Crypto market experts remind that the impact of Elon Musk’s publications has already been observed many times, in particular, for assets such as Dogecoin DOGE $0.18 Binance-Peg Dogecoin 4.25% Market capitalization $0.46 billion VOL. 24 hours $0.21 billion or Floki Inu FLOKI $0.0000919 FLOKI 2.92% Market capitalization $0.89 billion VOL. 24 hours $27.19 million . His millions of audience often perceives Musk’s memes as a call to action, which triggers a surge in speculative purchases.

At the same time, analysts warn that such movements are mostly short-term and accompanied by high volatility. Those who enter such assets on a hype should be aware of the risks of a sharp price drop immediately after a wave of interest.

The situation around PNUT once again confirms that the meme economy in the crypto market remains sensitive to external triggers, especially when it comes to influential people like Elon Musk.

The No Worries editorial team strongly advises readers not to invest their own funds in dubious crypto projects and little-known digital assets!