Key Takeaways
- Peanut the Squirrel (PNUT) token rallied by over 30,000% from a low of $0.03 to a high of $2.5 as retailers search for the next PNUT.
- Solana memecoins have no utility and are driven by hype from social media. This requires keeping up to date on X, Discord, and Reddit.
- Finding the next PNUT requires more research on Dexscreener, such as active volume, buy transactions and active community engagement to spot the next PNUT.
Solana memecoins continue to make waves in the crypto space with the newest memecoin that has taken the crypto space by storm, Peanut the Squirrel (PNUT) token that has surged by over 30,000%, turning $17 to millions of dollars in two weeks as one of the best memecoins of 2024 as many traders and retailers are witnessing the power of memecoins in the bull market.
This project was created on the Solana network just before the U.S. presidential election as justice for Peanut the Squirrel, who was seized from his home by the New York State Department of Environmental Conservation on 30 October.
The price of PNUT rallied from a low of $0.03 to a high of $2.5, turning a few dollars into wild, unimaginable figures as many traders and investors are looking for astronomical gains from buying memecoin gems with active communities.
This article focuses on practical ways to land your next PNUT Solana memecoin that could rally to astronomical heights.
X (Formerly Twitter) Community Engagement
Source – PNUT Call on X
Solana memecoins such as PNUT are found on popular price aggregators and decentralized platforms such as GMGN, Dexscreener, Dextools and others. Identifying these memecoins on the Solana network is just a process step.
You need to take steps to carry out due diligence, such as using X, Reddit, and Discord channels if communities are built around this memecoin and how active these communities have been since memecoins are built around hype and social media engagement.
Looking up some influential figures on X who are into Solana memecoins, just like the call on PNUT and active engagement on the said memecoin, will give you a clue as to the current trend of jumping on a particular memecoin to be invested upon.
Actively looking for community engagement on Solana memecoins that would be the next PNUT will make you more suitable rather than unthinkingly springing into all Solana memecoins listed on Dexscreener in a way to desperately find the next PNUT with the possibility of a 40,000% rally.
Constant Volume Increase Like PNUT
Source – PNUT volume on Dexscreener
While memecoins provide no utility value or use cases just for fun, it is tough to look for memecoins with utility value as these crypto tokens are built on hype and social media trends.
An important way to look for genuine and promising Soalan memecoin, such as PNUT, is to look for their volume on Dexcreener to be sure the hype around this memecoin can be sustained with active engagements on social media platforms and communities.
Active Transaction Activities
A good sign is ensuring transaction activities such as buy orders are coming in for this memecoin you are looking to invest in. This shows there could be a chance of the memecoin trending as the hype surrounding the memecoin, just like PNUT, is sustained.
Huge sell orders for a memecoin is not a good sign as it shows the memecoin could be headed for a major price dump.
Finding Solana memecoin like PNUT is no easy task; it requires patience and research. You will eventually find the next PNUT. Memecoins are extremely volatile, and doing due research would be good for you to make informed trading decisions.
