Peanut the Squirrel (PNUT) has experienced a significant price increase of 20% after being announced for listing on Coinbase.

The meme coin's market capitalization has surpassed that of competitors POPCAT and MOG COIN, reaching $1.34 billion.

This surge in price is a result of PNUT's 24-hour trading volume reaching $1.5 billion, indicating a high level of investor interest.

PNUT gained popularity after a squirrel mascot named Peanut was euthanized by the New York Department of Conservation, which generated significant attention on social media.

With a previous market cap peak of $2.4 billion, PNUT has developed a dedicated following within the cryptocurrency community.

Coinbase's decision to include PNUT in its listings aligns with its strategy to embrace the growing popularity of meme coins, following the recent addition of other tokens.

With its presence on both Binance and Coinbase, PNUT is well-positioned for potential growth in the future.