This Brand New Meme Coin Just Raised $11 Million In A Firesale With No Roadmap
October 26 2023 - 11:00AM
NEWSBTC
The cryptocurrency space is indeed full of surprises. Recently, an
emerging meme coin called $MEME, which has no roadmap or utility
has already raised over $11 million in its ongoing firesale.
Memecoin (MEME) Achieves A Major Milestone With Firesale MEME is an
Ethereum-based memecoin that operates under the ERC-20 network,
with a total supply of 69 billion MEME tokens. The token was
designed by a web3 startup called Memeland and launched by the team
that worked on 9GAG. According to the Memecoin fire sale page, the
brand new meme coin reportedly sold over 11.4 billion MEME tokens
selling at $0.001 in its ongoing firesale. This indicates a
significant 150% surge, beating the team’s expectations from the
very beginning. The token’s active firesale which has amassed over
$11 million already has done this despite being a waitlist-only
sale. Related Reading: AiDoge Reaches $9 Million Mark in Presale,
Looks Set for More Milestones In line with Memecoin’s whitepaper,
the team highlighted that the token “has no functions, no utility
and no intrinsic value, no promise or expectation of any financial
return, profit, interest or dividend.” The team further
asserts that in regard to the Memeland ecosystem, the Memecoin does
not represent “any entitlement to any voting rights.”
However, despite the meme coin not having a roadmap, utility, and
future return, it did not sway crypto investors from purchasing the
meme coin. In addition, the crypto community is still eager to
buttress the startup, demonstrating crypto investors’ trust and
faith in the new meme coin. According to data from MEME’s
tokenomics, it was revealed that the first 2.7% of the total supply
of the MEME token will be released on October 27. Meanwhile, the
remaining portion will be “unlocked daily over the course of
eighteen months.” Meme Coin Captures Crypto Investors’ Interest The
cryptocurrency community’s interest in the newly introduced MEME
token can be traced back to the future profit potentials of meme
coins. Meme coins can offer huge investment returns for investors,
although they can also be risky for those who do not engage in
proper research before investing in the tokens. One notable
meme coin that has garnered huge returns for investors and produced
hundreds of millionaires in the 2021 bull run is the Shiba Inu
(SHIB) meme coin. Related Reading: The Battle of Memecoins:
EverLodge vs Shiba Inu – Which Holds the Key to Success? The
Dogecoin rival was launched in 2020 but later rose to fame in 2021
after significant price surges. The token has managed to remain a
vital meme coin to this day. The Shiba Inu was launched with an
initial price of $0.000000001009, according to CoinMarketCap. By
May 2021, the token was traded at $0.00003469, indicating an over
10,000% surge in price. The token is the currency being traded at
$0.000008 as of the time of writing. Featured image from Memeland,
chart by Tradingview.com
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