The cryptocurrency house is certainly stuffed with surprises. Not too long ago, an rising meme coin referred to as $MEME, which has no roadmap or utility has already raised over $11 million in its ongoing firesale.
Memecoin (MEME) Achieves A Main Milestone With Firesale
MEME is an Ethereum-based memecoin that operates beneath the ERC-20 community, with a complete provide of 69 billion MEME tokens. The token was designed by a web3 startup referred to as Memeland and launched by the workforce that labored on 9GAG.
In response to the Memecoin fireplace sale web page, the model new meme coin reportedly offered over 11.4 billion MEME tokens promoting at $0.001 in its ongoing firesale. This means a big 150% surge, beating the workforce’s expectations from the very starting.
The token’s lively firesale which has amassed over $11 million already has accomplished this regardless of being a waitlist-only sale.
In step with Memecoin’s whitepaper, the workforce highlighted that the token “has no capabilities, no utility and no intrinsic worth, no promise or expectation of any monetary return, revenue, curiosity or dividend.”
The workforce additional asserts that in regard to the Memeland ecosystem, the Memecoin doesn’t symbolize “any entitlement to any voting rights.”
Nevertheless, regardless of the meme coin not having a roadmap, utility, and future return, it didn’t sway crypto buyers from buying the meme coin. As well as, the crypto neighborhood continues to be desirous to buttress the startup, demonstrating crypto buyers’ belief and religion within the new meme coin.
In response to information from MEME’s tokenomics, it was revealed that the primary 2.7% of the whole provide of the MEME token will likely be launched on October 27. In the meantime, the remaining portion will likely be “unlocked every day over the course of eighteen months.”
Meme Coin Captures Crypto Traders’ Curiosity
The cryptocurrency neighborhood’s curiosity within the newly launched MEME token might be traced again to the long run revenue potentials of meme cash. Meme cash can provide large funding returns for buyers, though they will also be dangerous for many who don’t interact in correct analysis earlier than investing within the tokens.
One notable meme coin that has garnered large returns for buyers and produced a whole bunch of millionaires within the 2021 bull run is the Shiba Inu (SHIB) meme coin.
Associated Studying: The Battle of Memecoins: EverLodge vs Shiba Inu – Which Holds the Key to Success?
The Dogecoin rival was launched in 2020 however later rose to fame in 2021 after vital value surges. The token has managed to stay a significant meme coin to at the present time.
The Shiba Inu was launched with an preliminary value of $0.000000001009, in response to CoinMarketCap. By Could 2021, the token was traded at $0.00003469, indicating an over 10,000% surge in value. The token is the foreign money being traded at $0.000008 as of the time of writing.
Featured picture from Memeland, chart by Tradingview.com