Peanut The Squirrel's Death Triggered Outcry And Spawned A $2 Billion Memecoin, But Was It A Planned Outcome?

The seizure and subsequent euthanasia of “Peanut,” the beloved social media star squirrel, last year not only ignited public outrage but also became a flashpoint in a highly volatile election season.

The events leading to the incident, detailed in an Associated Press report, have led to speculation about whether officials premeditated Peanut's fate, casting a shadow over the New York State Department of Environmental Conservation's actions.

What happened: Peanut, an orphaned squirrel rescued by Mark Longo, amassed over 500,000 Instagram followers with videos of him wearing tiny cowboy hats and eating waffles. However, its social media presence started drawing the attention of state wildlife authorities.

The report stated that complaints about illegal possession started coming in, as it was against the state law to keep a wild animal without a license.

Initially, these claims were treated with little urgency, but things changed after a raccoon, one of the most common carriers of rabies, arrived at Longo’s sanctuary.

An email exchange revealed that the county health officials advised the DEC to euthanize all “wild” animals at home and send them for rabies testing. Although the DEC said in a report later that they took steps before the raid to hand over Peanut to a wildlife rehabilitator.

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Subsequently, DEC officials raided Longo’s home and seized Peanut and Fred the raccoon. Notably, Peanut had bitten one of the officials during the seizure, following which a county health official said that animals had to be tested in line with the state rabies protocols. The animals were put down a few days later.

The health officials expressed grief over the euthanasia but stated that it had to be done. Rabies testing eventually came up negative.

Why It Matters: Peanut’s death sparked an emotional outcry, which quickly turned political. Republican supporters, including tech titan Elon Musk, criticized the authorities, stating, “President Donald Trump would save the squirrels.

The pet squirrel’s demise also spawned a Solana SOL/USD-based meme cryptocurrency, Peanut the Squirrel (PNUT), that gained over $2 billion in market capitalization within 10 days of its launch. Since the peak, though, the coin has lost nearly 93% of its value.

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