Coinbase Lists Solana Meme PNUT: Will its Worth Explode?

• Coinbase helps Peanut the Squirrel (PNUT) on the Solana community.
• Buying and selling for the PNUT-USD pair begins January 14 if liquidity situations verify.
• Transfers should be made on the Solana community to keep away from fund loss.

Coinbase has introduced it’s going to listing Peanut the Squirrel (PNUT), a token on the Solana community. Buying and selling is scheduled to start right now, relying on liquidity situations. This itemizing is an enormous step for PNUT and has sparked pleasure about its potential worth motion.

The PNUT-USD buying and selling pair will launch in phases, beginning as soon as there may be enough provide, in response to a publish on X by Coinbase Belongings. This phased method ensures stability and liquidity for merchants, in response to Coinbase.

Solana Community Exclusivity for Transfers

In the meantime, Coinbase has warned customers to solely switch PNUT on the Solana community. Utilizing different networks might result in everlasting lack of funds. The official Solana contract handle for PNUT is the handle beginning with “2qEHjDLDL….56P1tpump.”

Whereas PNUT buying and selling will likely be obtainable in a number of areas, some jurisdictions could face restrictions. Coinbase famous it’s going to present additional updates relating to availability and buying and selling phases.

Will This Affect PNUT’s Worth?

The Coinbase itemizing usually serves as a catalyst for token worth will increase as belongings achieve publicity to a bigger viewers of retail and institutional buyers. 

For instance, BONK, a well-liked Solana meme coin, surged 627% a month after its Coinbase itemizing in December 2023. In fact, worth actions rely upon varied elements, together with buying and selling quantity, market sentiment, and adoption charges.

Notably, on December 11, PNUT rose by 20% as Coinbase introduced its itemizing plans, along with Gigachad (GIGA) and Turbo (TURBO) meme cash on its spot trade. The meme token worth surged to $1.35 earlier than stabilizing at round $1.25. 

That very same week, GIGA reached a brand new all-time excessive, climbing 60% since its Coinbase itemizing. TURBO additionally noticed a achieve of over 60%, hitting a brand new all-time excessive valuation of $922 million. With PNUT buying and selling beginning right now, a worth enhance might be on the horizon.