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It seems that memecoin season is still far from over. Recently, the Snek, a meme coin based on the Cardano blockchain, has created a stir by reaching new all-time highs. This feat has caught the attention of the crypto community and even some industry influencers. Let’s take a look at this incredible feat!
Snek jumps 32%: A new historical record
This year, meme-inspired cryptocurrencies sparked unprecedented excitement. After the incredible success of Dogecoin (DOGE), new projects have emerged, such as Shiba Inu, FLOKI, and many others, all based on dog memes.
However, in April, a new player entered the market: PEPE, a currency inspired by the famous meme of pepe the frog. His arrival created a real shock wave, attracting the attention of investors and traders. Today, the trend seems to be turning towards Snek (SNEK), a meme that represents a snake.
Since its launch in mid-May, Snek, a meme-inspired cryptocurrency, has achieved two all-time wins. Now, a new all-time high has been broken by hitting $0.0005751. Although its growth in 24 hours reached 32%, SNEK is slightly below its high time, with a decrease of about 7%.
Snek’s creators are quick to call it “Cardano’s hottest mimetic coin”. In fact, this week saw an impressive weekly growth of over 200%. Since its launch, the coin has grown by a whopping 336.37%. With a total supply of 76,715,880,000 Snek, it is currently 2,716th on CoinMarketCap.
The craze for Meme Coins on Cardano
Snek is not the only Meme Coin to draw attention to the Cardano blockchain. Other similar projects, such as the HOSKY coin, have also gained popularity among the public.
In addition, Snek managed to attract the attention of key figures in the blockchain industry. Cardano founder Charles Hoskinson has too he looked up on this meme-inspired currency, highlighting its potential within the Cardano ecosystem. This recognition from a renowned visionary speaks to the growing appeal of meme-based projects within the crypto community.
As Snek continues to rise through the ranks, it’s worth considering the unprecedented insights this coin will bring to the Cardano ecosystem and the cryptocurrency industry as a whole. However, one should really stay tuned and be careful, because it’s important to keep in mind that hype around a crypto that doesn’t have a solid foundation is often short-lived.
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I am passionate about Bitcoin, I like to explore the intricacies of blockchain and cryptos and I share my discoveries with the public. My dream is to live in a world where everyone is guaranteed privacy and financial freedom, and I firmly believe that Bitcoin is the tool that can make that happen.
The views and opinions expressed in this article are the sole responsibility of the author, and should not be considered investment advice. Do your own research before making any investment decision.