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It’s not every day that a squirrel and a raccoon become the centre of attention, and turn into a cryptocurrency token with a market cap in the tens of millions. But here we are. The story of Peanut the squirrel (stylized as P’Nut) and Fred the raccoon has just opened a new chapter: their owner, Mark Longo, has launched a token called Justice for Pnut and Fred (JUSTICE), accusing the crypto community of profiting off his personal tragedy.
A Token of Protest
Mark Longo didn’t hold back when announcing JUSTICE on Twitter. In an emotional video, he accused crypto traders of profiting from the painful experience of losing his pets.
“The crypto world has turned my tragedy into a moneymaking scheme,” Longo stated. “This isn’t just about Peanut and Fred—it’s about showing that certain actions can’t go unchecked.”
JUSTICE, according to Longo, isn’t just another meme coin. He sees it as a statement against overreach and exploitation, with the added aim of honouring Peanut and Fred’s memory. Despite his strong words, Longo is no stranger to criticism. Some community members pointed out that he had received $50,000 in donations after the incident, which they claim he immediately cashed out.
The token itself, however, has gained rapid traction. JUSTICE boasts a market cap exceeding $53.8 million and over 14,000 holders, according to Solscan. Minted through Pump.fun, a decentralized platform for creating tokens, JUSTICE is already a notable player in the meme coin space.
Source: Bubblemaps
How It All Began
The story starts with Peanut the squirrel (often called P’Nut) and Fred the raccoon, two animals that lived at Longo’s sanctuary in Pine City, New York. Peanut was a social media star with over 500,000 followers, celebrated for his playful antics.
Things took a dark turn on October 30, when New York State environmental officers raided Longo’s sanctuary, citing laws that prohibit keeping wildlife as pets. During the raid, Peanut reportedly bit someone, and both animals were seized. On November 1, Peanut and Fred were euthanized, sparking public outrage.
The incident quickly became a hot topic online, with hashtags like #JusticeForPnut trending across social media. Political figures even weighed in. Vice President-elect JD Vance called it an example of government overreach during a rally, while Elon Musk tweeted his disapproval, describing the situation as “messed up.”
This attention brought the crypto world into the fold. Inspired by the controversy, traders created PNUT, a meme coin tied to the story. With Musk’s tweets fueling interest, the token saw its market value skyrocket, leaving Longo furious over what he perceived as exploitation.
PNUT vs. JUSTICE
The creation of PNUT highlighted the intersection of viral moments and cryptocurrency, where stories often turn into financial opportunities. Longo, however, viewed the token as an insult, accusing its creators of profiting from his loss.
Longo introduced JUSTICE to reclaim control of the narrative. He described it as the only cryptocurrency project he would ever support, framing it as a direct response to what he saw as the misuse of his pets’ story. But even as JUSTICE gained momentum, PNUT supporters pushed back. Some accused Longo of hypocrisy, pointing to the donations he received and his decision to launch a token of his own.
Despite the criticisms, JUSTICE’s numbers are impressive. Within days of its launch, the token reached a significant market cap and attracted thousands of holders. Its rapid growth shows how emotional stories, even ones as painful as this, can translate into major interest in the crypto world.
The Ethics of Meme Coins
The debate surrounding JUSTICE raises broader questions about the ethics of meme coins. Similar controversies have emerged recently, including a case involving Philip Banks, the artist behind the viral “Chill Guy” meme. Banks announced plans to take legal action against tokens using his art without permission, calling out projects that turned his creation into profit-driven ventures.
One such token, CHILLGUY, saw its market cap soar from $13 million to over $500 million in days. Banks responded with threats of takedowns, arguing that his work was being exploited without consent. The parallels to PNUT and JUSTICE are clear, as both involve turning viral moments into cryptocurrencies with major financial implications.
What’s Next for JUSTICE?
JUSTICE has quickly become one of the most talked-about meme coins, but its future remains uncertain. Some see it as a heartfelt tribute to Peanut and Fred, while others question its motives and sustainability. Longo’s outspoken criticism of the crypto world, combined with his own token launch, has drawn both support and scepticism.
The controversy also highlights the unpredictable nature of the crypto space, where emotional stories often drive trends and investments. JUSTICE may succeed in keeping Peanut and Fred’s memory alive, but it also underscores the complexities of blending personal experiences with financial ventures.
For now, JUSTICE is thriving in terms of numbers, with a market cap in the tens of millions and a growing community of holders. Whether it will become a lasting symbol or fade into obscurity like many meme coins before it is still up for debate. What’s clear is that the story of Peanut and Fred has left an indelible mark, bridging the worlds of animal advocacy, internet culture, and cryptocurrency in an unprecedented way.
Feature image is an edit by NFTandGameFi. The original is by Stewart Munro
