In a stunning display of market momentum, PNUT has achieved a remarkable milestone by becoming Solana’s fourth-largest memecoin by market value, marking an extraordinary price surge of 234.03%.
The token has demonstrated exceptional growth, reaching a market value of US$1.3 billion within just 10 days of its launch.
Currently trading at $1.33, PNUT has witnessed an impressive 223.9% price increase in the last 24 hours alone, coupled with a staggering 1,146.21% gain over the past week.
With a circulating supply of 1 billion tokens, PNUT’s market capitalization has grown to approximately $1.4 billion, solidifying its position among the top Solana memecoins.
Competitive Position in Solana’s Memecoin Landscape
PNUT has established itself within an elite group of Solana memecoins, joining a market where the total memecoin capitalization stands at approximately $17.13 billion, with combined trading volumes reaching $11.30 billion.
The current market capitalization rankings showcase WIF leading with $2.98 billion, followed by BONK at $2.29 billion, POPCAT at $1.43 billion, and PNUT securing the fourth position with $1.29 billion.
This positioning is particularly noteworthy given PNUT’s strong positive performance of +186.1%, especially when contrasted with POPCAT’s simultaneous decline of -14.4%, highlighting the dynamic and volatile nature of the memecoin market.
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Trading Volume and Exchange Performance
The token has demonstrated significant trading activity across major cryptocurrency exchanges. Gate.io’s Chief Commercial Officer Kevin Lee reported that on November 12, 2024.
Their platform achieved remarkable trading volumes for PNUT, securing the second position industry-wide, following only Binance.
According to CoinGecko data, the 24-hour PNUT spot trading volume rankings show Binance leading with $650 million, followed by Gate.io with $190 million, and OKX in third place with $120 million.
This distribution of trading volume across major exchanges indicates broad market participation and liquidity for the token.
Market Impact and Trading Metrics
PNUT’s current market metrics reveal impressive trading dynamics, with a 24-hour trading volume reaching $2,598,359,274.
This substantial trading activity, combined with the token’s rapid price appreciation, signals strong market interest and participation.
The token’s performance metrics are particularly notable in the context of price movements, showing consistent growth across different timeframes: a 219.84% increase in 24 hours and an extraordinary 1,146.21% gain over seven days.
These figures underscore PNUT’s significant market impact and the growing interest in Solana-based memecoins among cryptocurrency traders and investors.
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