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'I'm at a Loss': Cardano Creator Shocked His Pig Nike Became Million Dollar Meme Coin

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Tue, 18/06/2024 - 9:55
'I'm at a Loss': Cardano Creator Shocked His Pig Nike Became Million Dollar Meme Coin
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In an unexpected twist, the ADA community saw an epic event unfold in just 24 hours. Charles Hoskinson, the creator of Cardano, posted a photo of his pet pig, Nike, on social network X. This simple post quickly led to the creation of a new meme coin called NIKE.

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The NIKE coin, inspired by Hoskinson's pig, quickly gained popularity. It now has a market capitalization of 1.72 million ADA, or about $650,000. In addition, its trading volume reached 1.51 million ADA, making it the third most traded token in the Cardano ecosystem over the last day.

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Hoskinson expressed his surprise eight hours after his initial post, noting that he was "stunned" that a picture of his pig had resulted in a meme coin approaching a million dollars in less than 12 hours.

As NIKE gains momentum, it is challenging another popular meme coin in the Cardano ecosystem, SNEK. SNEK, the largest meme coin in the ecosystem, has a market capitalization of $74 million and a trading volume of $607,179. The rapid rise of NIKE raises the question of whether it could surpass SNEK in popularity and value.

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Source: TradingView

While Hoskinson seemed amused and puzzled by the rapid rise of a token based on his pet, this event again demonstrates the enthusiasm of the community and the influence of attention on market trends.

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The Cardano ecosystem may now see increased competition among meme coins, with NIKE emerging as a strong contender against established tokens like SNEK. As the ADA community watches this new development, many are curious to see if the pig-themed coin can overtake its snake-themed counterpart.

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