Death of Peanut and public reaction: On October 30, 2024, Peanut, a famous pet squirrel, was seized and euthanized over suspicion of rabies. Peanut’s death caused public uproar, drawing attention from over 500,000 social media followers. This event sparked waves of controversy and public backlash against the official’s decision.

Emergence of related cryptocurrencies: Following Peanut’s death, cryptocurrencies like PNUT and FRED emerged, rapidly increasing in value due to public attention. Trading volume surged to 150 million USD in just a few days. This highlights the power of public emotion in influencing the cryptocurrency market.

Pros and cons of launching a new currency: Mark Longo, Peanut’s owner, launched the JUSTICE coin as a symbol against power abuse. However, many are skeptical that this is merely an attempt to financially exploit a tragedy. Longo raised 50,000 USD from donations, sparking controversy over his true motives.

Social reaction and legal issues: Legal experts highlighted the issue of exploiting emotionally powerful events for commercial gain, marking a rising trend in the crypto space. This situation not only represents an individual’s struggle but also exemplifies how meme coins can affect community sentiment and awareness.