Coinbase Lists Meme Coin Peanut the Squirrel (PNUT) Amid Broader Market Downturn

Coinbase has announced support for the meme coin Peanut the Squirrel (PNUT).

The exchange said trading support for the PNUT token on the Solana (SOL) network will go live on January 14, 2025, at 9:00 am PT if liquidity conditions allow.

“Once sufficient supply of this asset is established trading on our PNUT-USD trading pair will launch in phases. Support for PNUT may be restricted in some supported jurisdictions,” Coinbase wrote.

Token transfers for the meme coin are now available on both Coinbase and Coinbase Exchange, with accessibility depending on regional trading support.

PNUT’s listing on the U.S.-based exchange comes about a month after Coinbase added it to its listing roadmap. The exchange hinted at the listing in early Dec.

The Peanut the Squirrel meme coin shot into the limelight in November 2024, following a controversial killing of a pet squirrel. The incident sparked outrage and disbelief, which soon gave rise to the meme coin, taking crypto Twitter by storm. PNUT reached an all-time high of $2.47 on Nov. 14.

However, the token has seen a substantial decline amid the broader crypto market’s recent downturn. On Jan. 13, 2025, PNUT fell to lows of $0.46 as Bitcoin revisited the $90,000 level and Ethereum dipped below $3,000 amid increased sell-off pressure.

PNUT, which has lost 79% of its value since its all-time high, was down 13% in the past 24 hours and 30% over the past month. The meme coin was trading around $0.51 following the Coinbase announcement.