Probably the most hyped token in the Cardano ecosystem, SNEK, is gearing up for an eventful July, as revealed by a member of the development team. With its meteoric rise, SNEK has captured the attention of crypto enthusiasts worldwide, and the project's latest plans promise to keep the momentum going.
In a tweet by a team member, key developments for SNEK in July were disclosed. First of all, no stone was left unturned in pursuit of making SNEK as deflationary as possible, with the announcement of seven burning mechanisms, two of which are set to launch this month. This deflationary strategy is intended to enhance the value and scarcity of SNEK tokens, boosting investor interest. As part of this activity, the meme coin team also plans to acquire more than 180,000 ADA.
Still to come for @snekcoinada in July:— Rami (@CardanoRami) July 4, 2023
🔹Energy drink presale
🔹Much improved website
🔹Burn Mechanism #4
🔹Burn Mechanism #5
🔹More marketing campaigns
🔹Surprise purchase for brand growth
🔹Ongoing discussions with multiple CEX's
🔹182,000+ ADA still to buy and burn SNEK
Another particularly intriguing move that has captured maximum attention is the upcoming launch of Snek Energy, an energy drink. This venture into the world of energy drinks is a bold and unconventional step that may further solidify SNEK's presence beyond just the digital realm.
To support its growth and adoption, SNEK is actively seeking listings on centralized exchanges, and it has already secured a spot on MEXC. The project also plans to expand its affiliate network, having recently partnered with NOWPayments and ChangeNOW.
Since its debut in late April, SNEK has achieved remarkable success, growing its market capitalization to an impressive 107.05 million ADA, equivalent to $32.5 million. At one time, SNEK was the third largest asset in the Cardano ecosystem, trailing only ADA and AGIX.