Key Takeaways
- Peanut the Squirrel (PNUT) market cap peaked at over $2.4 billion within 10 days of launching.
- Longo received $50,000 worth of PNUT in donations from the cryptocurrency community.
- Justice for Pnut and Fred (JUSTICE) had a peak market cap of $144 million.
Peanut the Squirrel’s owner, Mark Longo, is taking the crypto community to task for profiteering from the tragic death of his beloved pet squirrel.
In a video posted to social media, Longo announced plans to sue PNUT token holders and revealed the launch of his own token.
PNUT Under Fire
Describing the event as “one of the most devastating things” to have happened in his life, he aims his anger at the crypto community, which he says has taken his “tragedy and profited every which way possible.”
“The fact that people wanna make money off this is nothing short of despicable,”
Then, in a moment of bittersweet irony, Longo announces the launch of his rival token, Justice for Pnut and Fred (JUSTICE). The gambit has paid off, with JUSTICE sitting at a market cap of around $50 million.
It’s worth noting that Longo had received donations in PNUT, which were worth some $50,000 when he cashed them out. The crypto community has called him out on this, highlighting the inconsistency of Longo’s words and actions.
Longo said he plans to sue the holders of the PNUT token despite their charity towards his situation.
Squirrels and Memecoins
The PNUT token grew exponentially in price and market cap, climbing to a peak market cap of over $2.4 billion in a matter of days. It has since waned significantly and now commands a market cap of just over $1 billion.
The JUSTICE coin has performed similarly so far, quickly raising its market cap to a peak of $144 million and tumbling to $51 million in just 48 hours of launching.
According to crypto sleuth Stalkchain, the JUSTICE token dev has already made a pretty penny from the token.
Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
