The owner of the squirrel Peanut criticized the PNUT memecoin community for making money from his personal tragedy, so he later created the JUSTICE memecoin and then JFP to "rug pull" users.
The JUSTICE memecoin of Peanut's owner collapsed after 2 weeks of launch
The memecoin market is full of interesting, new and even... drama appearing every day.
Surely you still remember the unfortunate squirrel P'Nut, who has become the inspiration for the meme token Peanut the squirrel (PNUT).
P'Nut and his owner Mark Longo live in New York City. But the squirrel was captured and euthanized by state environmental officials after complaints from neighbors.
This is seen as the trigger that sparked public opinion, as American society is showing some signs of instability related to crime.
The story has received the attention of many celebrities, even Trump's son Donald Trump Jr and billionaire Elon Musk have commented on it.
In the typical style of the crypto market, the community quickly "meme-ified" P'Nut and from there the PNUT token was born.
The token price soared thanks to the humane story, easy to viral, reaching a peak PNUT capitalization of $1.4 billion, 14 times since the Binance listing.
However, the squirrel's owner, Longo, did not think so.
On November 25, Longo with the account X as Squirrel_Dad (the squirrel's father) posted a video criticizing that crypto traders are making money from his personal tragedy through the PNUT token.
"The fact that people want to make money from this is truly despicable."
While criticizing the traders, but right after that Longo posted the smart contract of a token called Justice for Pnut and Fred (JUSTICE).
JUSTICE was created on the pump.fun incubator platform on November 26. But in contrast to PNUT, the JUSTICE price plummeted from a peak capitalization of $144 million to only $370,000 at the time of reporting.
JUSTICE price movement, CoinGecko screenshot at 03:20 PM on 09/12/2024
But do you think it ends here? No way!
Just 10 days later, on 06/12, Longo continued to share a new smart contract, implying that JUSTICE has now been converted to the JFP token, with the official X account being @JusticePnutFred.
$JFP
— Justice (@JusticePnutFred) December 6, 2024
CA: CHKzK9EbEDxaQx1aU3SrRixJPFsToURcug5uUG2ipump
Although "changing name and chart", the fate of the meme token remains unchanged. The JFP price has dropped 67% since its launch, with a capitalization of around $2.3 million.
JFP price movement, CoinGecko screenshot at 03:20 PM on 09/12/2024
Needless to say, the crypto community is extremely outraged by Longo's behavior.
While he criticized PNUT for making money from his personal tragedy, but later he himself exploited his deceased squirrel to "make money", and even twice!
It's insane!
— Dennis 'The Crypto Lion King' (@TheL1onK1ngCryp) November 25, 2024
He asks insane amounts of money to people, and Mark if you are reading this, do not deny please because that will just make it ugly!
The community token @OGpeanut_sol gave you money, as a support donation to the cause of Peanut! You think you can just do this and…
Furthermore, the PNUT community said they had donated about $50,000 to Longo, but he had Dumped the tokens to cash out immediately. Then he went on to make a "hypocritical" video like that.
This dudes a douche! I sent 1k of my own money to support a cause I thought was helping animals. He took my money and the other $49,000 from our community to launch a coin and rug it. He is a disgrace!!
— Ryan (@R_Hawk_84) November 26, 2024
Compiled by Coin68
