New Meme Coin Gets Cardano Founder Attention

Hoskinson inquires about a new meme coin that launched on the Cardano blockchain.

Snek (SNEK), a Cardano-based meme coin, has caught the attention of Cardano founder and prominent cryptocurrency entrepreneur Charles Hoskinson. Hoskinson took to Twitter to ask about Snek following its growing popularity in the Cardano community. 

“What the heck is this Snek thing that people keep tweeting about?” Hoskinson noted in a tweet.

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

— Charles Hoskinson (@IOHK_Charles) May 11, 2023

Crypto Enthusiasts React

Several Cardano enthusiasts did not give Hoskinson a direct response. Instead, they shared pictures and gifs of snakes and other reptiles.

pic.twitter.com/olPTb9FbEK

— Avatar Nick (@TheAvatarNick) May 11, 2023

However, some critics believe the tweet is just a tactic by Hoskinson to promote the newly-launched meme coin.

Charles pumping shitcoins.

We are so early.

— wab.eth (@wabdoteth) May 11, 2023

Snek Meme Coin 

For context, Snek is a newly launched meme coin on the Cardano blockchain. The token was founded by famous Cardano community member goofycrisp. Other co-founders include MasterofC from the Chilled Kongs Team and JSHy, a jpg.store team software engineer.

Snek has a total supply of 76,715,880,000 (76.7B). 50% of the tokens were distributed during the presale, while 40%, 5%, 3%, and 2% were allocated for DEX liquidity, special utility, project treasury, and airdrops, respectively.

The team behind the token conducted a presale on April 27, 2023, which ran for six hours, with a minimum purchase of 20 ADA coins.

It is interesting to note that the token presale gained massive traction on Twitter. Over 2,000 ADA tokens were sent to the presale address within minutes after the token sale went live. Snek’s presale hit a milestone of 112K ADA coins in 519 transactions.

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

According to data from CoinMarketCap, SNEK is currently changing hands at $0.0001021, up 15% in the past 24 hours.