Cardano Founder’s Pig NIKE Sparks Memecoin Craze, Market Cap Nears $1 Million
18 Junho 2024 - 10:00AM
NEWSBTC
A memecoin inspired by Cardano founder Charles Hoskinson’s pet pig
Nike has captured the community’s attention. Within just 12 hours
of Hoskinson‘s post on X, NIKE’s market capitalization soared close
to $1 million, underscoring the volatile and often unpredictable
crypto market dynamics. Cardano Founder Sparks New Memecoin The
genesis of the NIKE token was a simple, casual tweet by Hoskinson,
featuring his pet pig, Nike. The tweet rapidly captured the
imagination of the Cardano community, leading to the creation of a
new memecoin named NIKE. Fun Fact: I have a pig named Nike
pic.twitter.com/53KeeYD1Sf — Charles Hoskinson (@IOHK_Charles) June
17, 2024 Within hours of its introduction, NIKE exhibited an
astonishing surge in its valuation. According to data from
TapTools, the token’s price quickly escalated. Trading metrics
painted a picture of frenetic activity: the token’s price increased
by an unprecedented 60,200% when it reached $0,00089. Related
Reading: Crypto Analyst Lists The Cardano Developments That Will
Drive ADA Price To $3 In 2024 The market’s reception to NIKE has
been vibrant, with the token swiftly climbing the ranks to become
one of the most actively traded within the Cardano ecosystem. As
per the latest metrics by taptools.io, NIKE’s 24-hour trading
volume stood at $616,000, featuring 2,304 buys and 1,432 sells. The
buy volume reached $316,955 while the sell volume was slightly
lower at $284,505, indicating a robust but balanced trading
interest. Liquidity figures were equally compelling, with the token
maintaining a pool of $47,900. The largest NIKE token holder
commands a significant 19.37% of the total supply, a factor that
adds a layer of risk concerning potential price manipulation or
future sell-offs. This trader is followed by holders with 5.58%,
3.35% and 2.93% respectively of the 1 billion token supply.
Currently, there are 668 holders of NIKE. The rapid ascent of NIKE
has elicited a spectrum of reactions from the crypto community.
While some enthusiasts are optimistic about the playful engagement
and the potential for profit, others express concern about the
speculative nature of such developments. Related Reading: Cardano
and MultiversX Attend Launch Of Web3 Initiative In Geneva With
Launch of Lightningbox One user commented on the phenomenon,
noting, “This is everything that’s wrong with Crypto and why a lot
of people will never feel comfortable investing in it.” Another
user jokingly asked: “What other animals do you have?”, which would
probably have initiated the creation of another memecoin if the
farm owner Hoskinson had replied. Hoskinson expressed his shock and
wrote via X, “I’m at a loss that a picture of my pig has resulted
in a memecoin that is nearly at a million dollars in under 12
hours.” I’m at a loss that a picture of my pig has resulted in a
memecoin that is nearly at a million dollars in under 12 hours.
pic.twitter.com/Hzhe0qjkI0 — Charles Hoskinson (@IOHK_Charles) June
18, 2024 As NIKE continues to garner attention and trading volume,
it could potentially pose a challenge to SNEK, the previously
dominant memecoin in the Cardano ecosystem with a market cap of $74
million. While SNEK remains far ahead in terms of total valuation,
the sudden rise of NIKE highlights the dynamic and ever-changing
landscape of memecoins within the crypto market. At press time, ADA
traded $0.373. Featured image from X @IOHK_Charles, chart from
TradingView.com
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