Elon Musk’s recent post on X, highlighting a mysterious incident involving a squirrel, sparked significant market activity on July 8, 2025, particularly around the meme-based PNUT token.
The event underscores the influential power of influential figures in cryptocurrency markets, igniting a sharp 10% rise in PNUT value, stirring investor interest and trading volume on the Solana network.
Musk’s Squirrel Message Triggers PNUT Price Jump
Elon Musk’s viral social media post drew attention to the Solana-based PNUT token, causing its price to jump noticeably. Musk mentioned a squirrel in his post, albeit without directly naming the token, yet his influence was unmistakable.
The result was a considerable rally in trading activity, witnessed on July 8, 2025. Both price and trading volume of PNUT soared within 24 hours, demonstrating the immediate impact of Musk’s social media presence on crypto markets.
PNUT Sees 10% Price Increase Following Tweet
The PNUT token’s price rose by 10%, driven by Musk’s indirect endorsement, and trading volume climbed 80%, marking a $214 million peak. These statistics highlight the heightened investor interaction prompted solely by Musk’s commentary.
Such market reactions emphasize the influence of celebrity involvement in financial assets, previously seen with tokens like Dogecoin and Shiba Inu. However, no regulatory responses or technological shifts were recorded following this spike.
Musk’s Tweet Patterns Spark Historical Meme Coin Surges
Musk’s tweets have historically triggered similar spikes in meme tokens, such as Dogecoin and Shiba Inu. This suggests a pattern where his endorsements consistently yield rapid but often short-lived financial outcomes.
Industry observers note these events reveal the volatile nature of meme coins, where celebrity endorsements become pivotal triggers for market movements. Despite the sudden spikes, long-term fundamentals in crypto assets remain unaffected.
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