PNUT Price Analysis: The "Musk Effect" Triggers a Big Pump, Will Meme Economics Lead the Next Round of Altcoin Season?

Peanut the Squirrel (PNUT) today (11) maintains its pump in the European early session, currently reported at 0.2866 USD, surprising the community. Tesla CEO Elon Musk's post on social media X sparked trading frenzy, leading to a significant pump in the Token's price.

PNUT, Dogecoin (DOGE), or Shiba Inu (SHIB) and other memecoins are a unique phenomenon in the cryptocurrency market. They often emerge in the form of jokes or social experiments, but with the support of influential figures or viral content, they can achieve billions of dollars in capitalization. This once again proves the significant impact of the "Musk Effect" in the cryptocurrency market.

Musk Effect: Why Does It Frequently Trigger Meme Coin Frenzies?

Elon Musk has previously influenced the value of digital assets. Since the birth of Dogecoin and Floki Inu, his jokes, memes, and informal endorsements have frequently sparked frenzied demand. He has over 180 million followers, and even a short post that is "not very meaningful but quite funny" can significantly change market behavior.

· PNUT Surge: After the release of the meme, the price of PNUT surged, but it wasn't the only one to rise. Its short-term trading volume increased dramatically, with speculators taking the opportunity to enter the market. Within a few hours, according to trading dynamics, the token made its way into the top ten most actively traded meme coins in the Solana ecosystem. Musk mentioned a squirrel named "Peanut" in his post, which "was caught (and killed)." Although he did not explicitly mention the name of the PNUT token, the timing of his post coincided with the surge in the token's price and trading activity. After the post was published, the PNUT token skyrocketed.

· Historical Cases: This is not the first time Musk's posts have driven up cryptocurrency prices. In January this year, he changed his X account to "Kekius Maximus," and his profile picture was replaced with a Roman soldier holding a video game controller, depicted as "Pepe the Frog." After the change, the price of Kekius Maximus Token surged over 900%. In 2021, Musk wrote in a post: "Dogefather SNL May 8," which led to the popular DOGE rising over 20% within 24 hours. In 2024, he posted an AI image related to Dogecoin, causing the price of Dogecoin to rise again by about 8%. Additionally, in January 2021, he changed his platform bio to #bitcoin. Shortly after, the price of Bitcoin soared from about $32,000 to over $38,000, adding $111 billion to its market cap. Furthermore, after this billionaire posted a picture of his dog Floki in 2023, the price of the Ethereum-based meme coin Floki surged by 418%.

Meme Economy: An Unstable but Active Market Phenomenon

The meme coin phenomenon is a microcosm of the modern internet. Jokes, satire, reactions—all of these turn into cash flow. Therefore, these stories are not isolated cases but part of the cryptocurrency reality. The meme economy is an emotional market. Here, what matters is not the news, but the atmosphere. If someone finds it absurd—the market does not feel the same. The market cap of meme coins reaches billions of dollars. So, while it may sound a bit strange, Elon Musk's memes do have economic influence.

Experts Warn: The Volatility and Risks of Meme Coins

Despite the market's enthusiasm in the short term, experts advise against viewing such volatility as a long-term investment opportunity. Meme coins are extremely volatile; a coin that rises 10% today may drop 50% tomorrow. These assets often lack stable support from major participants or established companies, making them susceptible to external signals. Elon Musk's memes might trigger a price pump, but nothing can stop him from dropping a new joke tomorrow that shifts attention to another Token.

PNUT: The Potential Meme Coin in the Solana Ecosystem

PNUT is one of the many meme coins emerging in the Solana ecosystem. Its core idea is fun, humor, and "building a community for the community." Like many meme assets, it lacks technological innovation or unique features. Its main value lies in its stimulation. Unlike more well-known Dogecoin or Shiba Inu, PNUT currently lacks public recognition outside niche cryptocurrency forums. However, the sudden surge triggered by Musk's memes could serve as a point of entry to attract a broader audience—provided the developers can seize this opportunity.

Musk's Political Ambitions and the Cryptocurrency Market

Meanwhile, this billionaire is working to create a third party that can rival the Republican Party and the Democratic Party, called the "America Party." After clashing with President Trump over the "Great Beautiful Bill," Musk announced the establishment of the America Party. He claimed that this new party is technology-oriented, fiscally responsible, energy-focused, and politically neutral, aiming to attract both Democrats and Republicans.

However, experts warn that breaking the control of traditional parties requires substantial funding and long-term investment. Nevertheless, some people are optimistic that Musk can lead his new party to success, including former Florida Republican Congressman David Jolly. Jolly believes that the challenge of forming a new party lies in resources and points out that Musk can provide these resources.

The "Musk Effect" has once again proven the unique position and tremendous potential of meme coins in the cryptocurrency market. Despite their extreme price volatility and lack of tangible support, meme coins can still trigger astonishing pumps thanks to celebrity influence and community enthusiasm. The case of PNUT highlights the vitality of the meme economy and prompts the market to consider whether such assets will lead the next altcoin season. However, investors must carefully assess risks while chasing meme coins.