JUSTICE Token Launch Adds New Chapter to Peanut Saga

TLDR

• Mark Longo, owner of euthanized pets Peanut and Fred, launched new token JUSTICE on Solana
• Longo criticizes crypto community for profiting from his trauma while launching his own token
• JUSTICE token reaches $53.8M market cap with 14,000 holders
• Original PNUT token gained popularity after Elon Musk’s comments
• Story became politically charged with Trump and VP-elect Vance involvement

The intersection of social media, cryptocurrency, and animal rights has taken an unexpected turn as Mark Longo, the owner of two euthanized pets, launches a new cryptocurrency token while simultaneously criticizing others for monetizing his story.

Longo’s pets, a squirrel named Peanut and a raccoon named Fred, became the center of public attention after New York State environmental officers seized them from his Pine City sanctuary on October 30. The animals were euthanized on November 1, following claims that Peanut bit someone during the seizure operation.

Before their deaths, Peanut had amassed over 500,000 followers across social media platforms, where the squirrel was known as P’Nut. The seizure and subsequent euthanization sparked immediate public outcry, drawing attention from high-profile figures including Elon Musk and Vice President-elect JD Vance.

In response to the incident, cryptocurrency traders created PNUT, a Solana-based meme coin. The token gained momentum after Elon Musk described the situation as “messed up” on social media. Trading volume for PNUT reached $150 million, demonstrating the swift impact of social media influence on cryptocurrency markets.

The government should not be allowed to barge into your house and kill your pet! That’s messed up.

Even if it is illegal to have a pet squirrel (which it shouldn’t be), why kill PNut instead of simply releasing him into the forest!? https://t.co/2m9Gi5QpUT

— Elon Musk (@elonmusk) November 3, 2024

The story took another turn when Longo announced his own cryptocurrency token named Justice for Pnut and Fred (JUSTICE).

In a Twitter video, Longo expressed his frustration with how the crypto community had handled his pets’ story, stating, “The crypto world has taken my tragedy and has profited every which way possible.”

Despite his criticism of others profiting from the situation, Longo proceeded to launch JUSTICE on the Solana blockchain using the DeFi meme coin platform Pump.fun. The token has attracted 14,000 holders and achieved a market cap of $53.8 million, according to Solscan data.

Members of the PNUT community have responded to Longo’s actions by pointing out that he received approximately $50,000 in donations, which they claim he quickly converted to cash. Longo declared in his announcement that JUSTICE would be “the only coin I will be affiliated with forever.”

The incident has drawn attention to the broader trend of meme coins facing legal challenges. In a parallel development, Philip Banks, the artist behind the “Chill Guy” meme, announced plans to pursue legal action against cryptocurrency projects using his artwork without permission.

The CHILLGUY token, which used Banks’ artwork, saw its market cap increase from $13 million to over $517 million within three days, highlighting the volatile nature of meme-based cryptocurrencies.

The story has also become entangled in political discourse. At a rally in Sanford, North Carolina, Vice President-elect JD Vance reported that Trump was “fired up” about the euthanization, framing it as an example of government overreach.

The New York Department of Environmental Conservation has maintained that their actions were in accordance with state laws prohibiting the keeping of wildlife as pets. The department cited rabies concerns as the primary motivation for their intervention.

The cryptocurrency market’s response to the Peanut and Fred story demonstrates how quickly social media narratives can transform into financial opportunities. Within days of the initial incident, multiple tokens emerged, each claiming various connections to the event.

Longo’s move to launch JUSTICE adds another layer to an already complex narrative involving animal rights, government regulation, and digital currency speculation. His dual position as both a critic of cryptocurrency profiteering and a token creator himself reflects the complicated nature of meme coin culture.

The emergence of competing tokens and threatened legal action suggests this story may continue to evolve in both the cryptocurrency markets and legal arena. Trading activity across these tokens remains active, with market caps fluctuating as new developments emerge.

Cryptocurrency traders continue to monitor both PNUT and JUSTICE tokens, while discussions about the ethical implications of monetizing viral stories persist within the community. The market data shows ongoing trading activity, with varying levels of support for each token.