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Highlights
- Fantom developer Andre Cronje shares twists on like memecoin debut
- The protocol is behind its core rivals on memecoin explosion
- Memecoins are responsible for many of the transaction boom many protocols have recorded recently
An X post from Andre Cronje, a core developer and founder of the Fantom protocol has teased the possibility of welcoming memecoins on the highly scalable blockchain platform in no distant time.
Fantom Memecoins May Soon Be a Reality
Cronje confirmed that the crypto project has been busy with conducting due diligence on memecoins. This action is directed towards providing a guide for the design of a framework that makes it easy to launch, support, and cultivate memecoins that are considered safe for the Fantom community. One X user tried to find out the nature of Fantom memecoin that should be expected.
“Like $SOLID and $TOMB?” Beastlorion, the X users asked.
In response to the inquiry, Cronje clarified that none of the aforementioned crypto projects fall under the classification of memecoins.
The Fantom developer’s talk about memecoin comes amidst an ongoing frenzy in the ecosystem. Some other blockchains have registered outstanding results from their memecoins and this is because a handful of these cryptocurrencies have seen a huge surge in their market value in the last few days.
Can Fantom Benefit From Memecoin Frenzy?
Solana’s Dogwifhat (WIF) stood out the previous week after gaining up to 24% which pushed the price of the crypto to around $2.65 with an average robust 24-hour trading volume of $455.08 million. Since that time till now, WIF has seen more growth in terms of its price. At the time of this writing, WIF was trading at $3.62 with an 8.63% increase in the last 24 hours.
BONK is also one of those memecoins that hit a new all-time high (ATH) a few days ago. It surged by 13% in mid-March and traded at an ATH of $0.00003366 with a market cap of $2.2 billion. The memecoin is currently at $0.00002372 with a 4.30% increase in the last 24 hours.
Shiba Inu (SHIB) and Pepe Coin (PEPE) are not left out of the excitement. It is worth noting that this memecoin frenzy contributes to the overall growth of the blockchains where they are domiciled. Protocols like Coinbase’s Base are seeing a huge improvement in their Total Value Locked (TVL) and even in the volume of transactions recorded daily.
Fantom might likely join these high-performing platforms if it eventually ventures into supporting memecoins.
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