Snek (SNEK) is a memecoin that was recently launched on the Cardano blockchain. Usually, Charles Hoskinson posts about the latest developments in the Cardano ecosystem. But, recently, the founder of Cardano posted a tweet quoting the new memecoin. The community did not fail to react to the founder’s sudden interest in SNEK, in this period when memecoins are on the rise.
Hoskinson gives in to memecoin mania!
As Cardano DeFi activity soars, the SNEK token finds itself in the sights of Charles Hoskinson. Strangely, the latter seeks to understand what it is. The founder of the Cardano network, which has fewer memecoins than rival Ethereum, noticed the popularity of the new memecoin. The Cardano community has been active in responding to Hoskinson’s concern, through various responses.
Some community members responded to Hoskinson with GIF images of snakes. A Twitter user preferred to share a meme as a response. According to him, the founderhangs on to Cardano’s memecoin season“. another user said : “Memecoin season is also in full swing on Cardano“.
It should be pointed out that the very first memecoin on Cardano is Hosky (HOSKY). The token was created due to the lack of shitcoins on the network. The network team saw such a need as a gap to be filled. That said, the HOSKY token has no fundamental value, as is the norm with memecoins.
Memecoins are once again in the sights of investors. Indeed, recent information indicates that it is the season of memecoins. The explosion of such cryptos was seen after the frog-themed token PEPE rose to prominence. The asset has indeed managed to climb into the top 100 cryptos by market capitalization. It turns out that the memecoin launched in April quickly grew from a market capitalization of $50,000 to over $600 million. The AIDOGE token, launched in the same period as PEPE, also experienced a rapid and spectacular increase. The memecoin launched on the Arbitrum blockchain managed to increase its initial valuation by a hundred times.
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