It seems that memecoin season is still far from over. Lately, the Snek, a meme coin based on the Cardano blockchain, has caused a stir by reaching new all-time highs. This feat has captured the attention of the crypto community and even some influential figures in the industry. Let’s take a closer look at this incredible feat!
Snek jumps 32%: New historic record
This year, meme-inspired cryptocurrencies have sparked unprecedented excitement. After the incredible success of Dogecoin (DOGE), new projects have emerged, such as Shiba Inu, FLOKI, and many more, 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, it seems that the trend is turning towards Snek (SNEK), a meme representing a snake.
Since its launch in mid-May, Snek, a meme-inspired cryptocurrency, has managed to hit two all-time highs. Now, the coin has broken a new all-time high by hitting $0.0005751. Although its growth in 24 hours reached 32%, SNEK is slightly below its all-time high, with a decline of around 7%.
The creators of Snek are quick to call it “Cardano’s hottest mimetic coin.” Indeed, this week it has seen remarkable weekly growth of over 200%. Since its launch, the coin has recorded a massive increase of 336.37%. With a total supply of 76,715,880,000 Snek, it currently ranks 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 community.
Furthermore, Snek has managed to attract the attention of key figures in the blockchain industry. Charles Hoskinson, the founder of Cardano, has also 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 is compelling to wonder what unprecedented insights this coin will bring to the Cardano ecosystem and the cryptocurrency industry as a whole. However, one should remain grounded in reality and exercise some caution, as it is important to keep in mind that hype around a crypto that lacks strong fundamentals is often short-lived.
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