The Cardano meme coin SNEK has recently received a lot of attention from the cryptocurrency community.
May 11, Input Output (IO) CEO Charles Hoskinson posted a tweet asking.what the hell #sneck About what people keep tweeting about? “
Some interpreted this as an endorsement of Hoskinson IO and SNEK. However, in a recent tweet, he IO and Snek have clarified that they are not working together and do not own any tokens.
I replied to your comment community members Fcking_Lemmings, I’ll post next week’s “Big Announcement” and IO conference. Hoskinson’s previous tweet also noted that there would be no Snek announcement next week.
Following the correction, Fcking_Lemming updated his post to say Snek will make an announcement next week.
On May 29th, the official snake twitter announced plans to never get bored were on the way, teasing that these would be innovative proposals “never seen before.”
“we do things ss [sic] something that has never been done before“
What is Snek?
Snek pre-sale has ended April 28thsharing 50% of total supply 76,715,880,000 SNEK tokens delivered to early supporters. Shortly after, the token went public via the Sunday Swap listing and started with a market cap of $275,000.
Since then, SNEK has recorded significant gains and set new all-time highs. $0.00083068 Morning of May 29 (BST). This equates to a peak market cap of $63,726,347, an increase of about 23,000% since the Sunday Swap listing.
of Snek website The project aims to build a sustainable and inclusive community on the Cardano blockchain and provide a “rewarding experience” for token holders. Additionally, the token is being marketed as his DeFi token, allowing users to “throw and have fun together.”
The website didn’t show a roadmap, and the company’s vision statement didn’t offer clear, quantifiable goals. crypto slate review.
“We believe it is necessary to experiment, innovate, make mistakes, adapt and take advantage of the tools available.”
Cardano Meme Coin
Memecoins are often criticized for their lack of utility, inherent value, and highly speculative nature, raising concerns about their long-term sustainability.
Proponents, on the other hand, argue that the meme coin will increase community engagement and serve as a gateway to the crypto ecosystem that can turn non-coin miners into crypto enthusiasts.
according to cardano cube, Hosky Token, DGAF, A SHIB, and 25 other Cardano-based meme coins. But Snek is the first to make a noticeable impact in terms of social media presence and price action.
Last week, May 24, Cardano DeFi’s Total Value Locked (TVL) increased from 230% to 256% year-to-date.
