Cardano Founder Takes Notice of This New Meme Coin

Cardano founder Charles Hoskinson has shown interest in a newly launched meme coin on the Cardano blockchain by enquiring about it in his latest tweet. What is it that has caught the attention of the founder of Cardano, one of the largest blockchain networks in the world?

SNEK- The New Token

Snek is a new meme coin that operates on the Cardano network. The token was founded by a well-known member of the Cardano community, goofycrisp, along with co-founders MasterofC and JSHy. The token has a total supply of 76.7 billion tokens, with 50% of the tokens distributed during the presale.

Cardano Founder Hoskinson tweeted–

What the heck is this #Snek thing that people keep tweeting about?

Following his tweet, SNEK has seen a surge in its price, up 16.13% in the past 24 hours.

While some may see Hoskinson’s interest in Snek as a promotion tactic, it is also a testament to the growing popularity of the Cardano network.

SNEK Price Movements

After a successful presale, Snek launched on the leading Cardano-based decentralized exchange SundaeSwap with a market capitalization of $275K.

As of May 11, 2023, SNEK is currently trading at 0.000278 ₳, with a market capitalization of $21,331.

During the presale on April 27, 2023, the token gained massive traction on Twitter, with over 2,000 ADA tokens sent to the presale address within minutes of the token sale going live. The presale ultimately hit a milestone of 112,000 ADA coins in 519 transactions.