Solana

SNAP

when

Shiba Inu

<p>A non-fungible token (NFT) artist going by the pseudonym Kero broke the crypto internet after he raised more than $10 million in Solana (<a href="https://crypto.news/price/solana/" target="_blank" rel="noreferrer noopener">SOL</a>) in less than a day during the presale of a meme coin, which apparently started for a laugh.&nbsp;</p> 
<p>Kero launched the presale after conducting a poll on X on whether they should launch a coin on <a href="https://crypto.news/?s=solana" target="_blank" rel="noreferrer noopener">Solana</a> “for fun” to mark the occasion of joining the network.&nbsp;</p> 
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   <p lang="en" dir="ltr">Im not on Sol yet, to start it right should we make a SOL Shitcoin for fun ?</p>— Kero 🐸🦇🔊 (@KeroNFTs) <a href="https://twitter.com/KeroNFTs/status/1768419229563285602?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">March 14, 2024</a>
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<p>After garnering more than 5,000 votes in the poll, the little-known NFT artist then launched a coin presale by posting a wallet address, which accumulated over 55,000 SOL, or $10.4 million at current prices, in a matter of hours.&nbsp;</p> 
<p>Kero admitted to being clueless about what to make before the poll and named the new coin SNAP, after one of their meme characters Coco, a croc drawn in the style of another popular meme character, Pepe the Frog.&nbsp;</p> 
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   <p lang="en" dir="ltr">lmao 😂 i still dont know ehat to make</p>— Kero 🐸🦇🔊 (@KeroNFTs) <a href="https://twitter.com/KeroNFTs/status/1768420715580027009?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">March 14, 2024</a>
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<p>SNAP officially launched on March 16 and is already being listed on various exchanges, such as CoinW.&nbsp;</p> 
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   <p lang="en" dir="ltr">First day on SOL and we go nuts <a href="https://t.co/LLk2q4eQS3" target="_blank">pic.twitter.com/LLk2q4eQS3</a></p>— Kero 🐸🦇🔊 (@KeroNFTs) <a href="https://twitter.com/KeroNFTs/status/1768783388259807324?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">March 15, 2024</a>
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<p>An analysis by The Block using data from <a href="https://solscan.io/account/CjUDRCWsuEm5egXpM3k4VpfzJ2iqyGPL2QkU3SBm4VFR#solTransfers" target="_blank" rel="noreferrer noopener">Solscan</a> revealed that most contributions in the prelaunch were made in small amounts, averaging about 3.5 SOL, although there were a few contributions in the hundreds.</p> 
<p> You might also like: <a href="https://crypto.news/dogecoin-shiba-inu-face-sharp-declines-market-corrects/"> Dogecoin, Shiba Inu face sharp declines amidst market correction </a> </p> 
<p>&nbsp;Kero is the creator of several <a href="https://crypto.news/what-are-nfts-and-what-will-they-become/">NFT</a> collections including Rare Coco and Snappy Cocos. Despite a history with NFTs,&nbsp; the artist does not have much of a track record when it comes to issuing tokens, leaving the worth of investments in the new venture rather ambiguous.&nbsp;</p> 
<p>Some contributors claimed to have received tokens worth $17,000, but the&nbsp; meme coin is still in the early stages of development, with limited market liquidity, and its value is yet to stabilize.&nbsp;</p> 
<p>SNAP is currently trading at $0.00004256, a 52.5% drop from the level it entered the crypto market at, according to <a href="https://coinmarketcap.com/currencies/snap-sol/" target="_blank" rel="noopener">data</a> from CoinGecko.&nbsp;</p> 
<p>In that period, it became the 30th most traded cryptocurrency, registering a trading volume of more than $679 million. It also has a market capitalization of $70.24 million, putting it on CoinMarketCap’s digital asset list at #2,374.&nbsp;</p> 
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  SNAP 24h price chart | Source: CoinGecko&nbsp;
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<p>Kero’s jump from an NFT artist to a token millionaire overnight sparked a lot of buzz in the crypto community, with some expressing disbelief as to how an unknown artist could accumulate such funds in such a short amount of time.&nbsp;</p> 
<p>Others have come out to announce that they will also be launching their own meme coins in an effort to challenge the rationale behind supporting individuals with little experience.&nbsp;</p> 
<p>The overwhelming contributions to the SNAP presale underscore the growing interest in meme coins and how their value can skyrocket by just riding a wave on social media.</p> 
<p> Read more: <a href="https://crypto.news/book-of-meme-bome-skyrockets-345-percent-24hrs/"> Book of Meme skyrockets 345% in 24 hours, Binance jumps on bandwagon </a> </p>

NFT artist’s meme coin on Solana nets $10m in one-day presale

crypto.news

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