PNUT, the latest meme sensation on Solana, surged 200% in hours after Elon Musk’s playful post about a 'squirrel and a meme coin.' The billionaire’s remark has supercharged PNUT’s trading volume, hitting $2.72 billion as meme coin mania grips the market.

Elon Musk’s Meme Coin Influence: PNUT’s Surge Reflects His Market Power

"America was saved by a squirrel and a meme coin!" Elon Musk joked in a recent X post. PNUT's value skyrocketed after Musk's involvement with this meme caused a tremor in the cryptocurrency market.

In any case, the billionaire's remark followed a photograph of PNUT that he had posted in reaction to a Rabbit Hole post that had caused a stir by casting doubt on the government's funding for HIV research using transsexual monkeys.

This X post continues Musk's lengthy pattern of interacting with meme coins, which has frequently resulted in sudden price spikes for Dogecoin and Shiba Inu, among others. As a result of the crypto market's reaction to Musk's comment, PNUT has been thrust into the limelight, demonstrating Musk's enduring influence over digital assets through meme-based appeal, Coingape reports.

PNUT’s Unprecedented Growth Amid Solana’s Meme Coin Boom

The value of the Solana blockchain meme coin PNUT has increased by 220% in the past 24 hours, and it is now trading at $1.33.

There was a 1140% gain in value over the previous week, and a 2400% increase in value over the previous 30 days. In the past 24 hours, traders have taken advantage of the coin's gain, sending its price soaring from $0.3943 to $1.47 on a trading volume of $2.72 billion.

Solana’s Top Meme Coins See Massive Gains

The price of ACT has increased 2,700% in the last week, while the price of Bonk has increased 50%, trading at $0.00003, indicating that top Solana meme currencies are becoming more popular.

As a result of the present meme currency bubble on Solana, investors are asking if tokens like BONK will keep going up in value; some fans are even questioning if it will soon reach $0.1.