Fake News: Trump is not the largest holder of Peanut the Squirrel (PNUT)

On Monday, November 11, the crypto news outlet CoinTelegraph posted on X, claiming that President-elect Donald Trump was the largest holder of the meme cryptocurrency Peanut the Squirrel (PNUT), allegedly possessing 1.7% of its total supply.

Peanut the Squirrel did, however, experience a 300% price surge following the announcement of PNUT’s listing on Binance.

However, data from Arkham Intelligence appears to refute this story. According to data on Arkham, a prominent blockchain Analysis platform, Trump does not hold any PNUT tokens, nor $6.55 million worth.

Picks for you

Orderly Network to expand onto Avalanche 1 hour ago
Jim Justice’s net worth revealed: The Senator-elect makes history as the richest ever 3 hours ago
Dogecoin rockets 60% since election night; Here's why 3 hours ago
Savvy crypto trader turns $318k into over $3 million in an hour 5 hours ago
Trump portfolio. Source: Arkham Intelligence

Arkham Intelligence provides in-depth data on blockchain transactions, tracking wallets across various networks to give a transparent view of cryptocurrency holdings and movements. As of 10:12 Eastern Time on November 11, Arkham’s data shows that Trump has no wallet connected to PNUT, nor is he a stakeholder in the token.

Peanut the Squirrel soars over 300% in a day 

Peanut the Squirrel has been on an impressive rally, currently priced at $0.4057, which marks a staggering 326.55% increase over the last day and a whopping 686.99% rise over the past week.

Peanut the Squirrel 1-day chart. Source: CoinMarketCap

The token’s market cap skyrocketed from $95 million to $405 million in just 24 hours, positioning it as the 215th largest cryptocurrency by market capitalization as per CoinMarketCap data on November 11.

PNUT’s recent listing on Binance has undoubtedly played a pivotal role in this surge. Both Binance and Crypto.com announced the token’s availability, significantly driving traffic and investor interest toward the meme coin. 

Notably, PNUT’s rise has also been fueled by an endorsement from Elon Musk, who voiced his support for the meme coin in a recent exchange on Joe Rogan’s podcast. Musk’s endorsement, coupled with the heightened interest around the U.S. election, has added to the token’s allure. 

However, it’s essential to approach PNUT’s meteoric rise with caution. Meme coins, while capable of quick gains, remain highly volatile. Finbold recently highlighted the precarious nature of meme tokens, reporting that 97% of meme coins have “died” due to unsustainable price pumps and limited utility.

Comments

Post a Comment

Popular posts from this blog

Crypto about to explode? Jim Cramer says yes

Image
Jim Cramer told investors on Wednesday that crypto is “due for a push today.” Coming from one of Wall Street’s loudest voices, it sounded like a rallying cry. In crypto circles, though, Cramer’s enthusiasm is often read in reverse, a cue to be careful, not bold. Crypo due for a push today. We are in 2000 territory on specs. It is where the cockroaches are. But at the same time Jamie Dimon said the cockroaches are ending he announces a $1.5 trillion fund that unwittingly stoked a huge spec wave.. We MUST focus on this before people really… — Jim Cramer (@jimcramer) October 22, 2025 The call landed in the middle of a fragile week. More than $110 billion has already been erased from the market since Monday, dragging total capitalization to $3.64 trillion.  At the time of publication, Bitcoin trades just above $107,000 after a 3% daily drop, with Ethereum, Solana, and BNB all losing closer to 5%. XRP has slipped below $2.40, fading after ETF hopes ran into re...
Read more

Here's Why XRP Could Hit a New All-Time High in November 2025

Image
The cryptocurrency market has struggled throughout October, a historically bullish month. The lackluster performance in October 2025 could be due to macroeconomic conditions, trade disputes, and slow economic growth. Ripple’s XRP token has also followed the market downtrend. However, things could change for XRP in the coming weeks. Let’s discuss why XRP could hit a new all-time high this November 2025. Reasons Why XRP Could Hit An All-Time High In November 2025 Source: Shutterstock The crypto market could pick up steam over the coming weeks, given that the Federal Reserve reduced interest rates by an additional 25 basis points earlier this week. Interest rate cuts often lead to cryptocurrencies seeing increased inflows as borrowing becomes easier. However, the market continues to glow red. XRP is struggling to regain the $3 price level. Investors may be taking longer than usual to build trust. We could experience a delayed rally from the rate cuts. Moreover, we may see sever...
Read more