Elon Musk, one of the richest people in the world and also has a close relationship with the cryptocurrency market, made a post on the social media platform X that increased the volatility in the price of memecoin Peanut the Squirrel (PNUT).
In response to a UFC fighter mentioning DOGE and the famous squirrel named Peanut after a fight, Musk shared a squirrel emoji and added DOGE, the abbreviation for the department that will oversee efficiency in the new US government.
After the sharing, serious volatility was observed in the price of the PNUT token.
*This is not investment advice.
