Cardano Founder’s Pig NIKE Sparks Memecoin Craze
The post Cardano Founder’s Pig NIKE Sparks Memecoin Craze appeared on BitcoinEthereumNews.com.
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 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…
Filed under: News - @ June 18, 2024 11:26 pm