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04/07/2024

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Speculation Arises After Andre Cronje Mentions Memecoins on Fantom

There’s growing interest in memecoins across various blockchain platforms, and there’s speculation that Andre Cronje might be thinking about bringing them to Fantom (FTM).Claim Instant 100,000 Chika Tokens...

Speculation Arises After Andre Cronje Mentions Memecoins on Fantom

There’s growing interest in memecoins across various blockchain platforms, and there’s speculation that Andre Cronje might be thinking about bringing them to Fantom (FTM).

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A recent post by Andre Cronje, who is a core developer and founder of the Fantom protocol, hinted at the potential introduction of memecoins on the highly scalable blockchain platform in the near future.

Fantom Developer Explores Memecoins for Platform

Andre Cronje, a core developer and founder of the Fantom protocol, confirmed the project’s ongoing due diligence on memecoins. This initiative aims to establish a framework that facilitates the launch, support, and cultivation of memecoins deemed safe for the Fantom community.

Responding to inquiries from users, Cronje clarified that projects like $SOLID and $TOMB do not fall under the category of memecoins.

The discussion about memecoins on the Fantom platform arises amidst a current frenzy in the ecosystem. Several other blockchains have witnessed remarkable success with their memecoins, with some experiencing significant market value surges in recent days.

Memecoin Frenzy Impacts Crypto Market

Last week, Solana’s Dogwifhat (WIF) made headlines with a notable 24% gain, pushing its price to approximately $2.65, accompanied by a robust 24-hour trading volume averaging $455.08 million. Since then, WIF has continued to experience growth, currently trading at $3.62 with an 8.63% increase in the last 24 hours.

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BONK, another memecoin, reached a new all-time high (ATH) a few days ago, surging by 13% in mid-March to trade at an ATH of $0.00003366, boasting a market cap of $2.2 billion. Presently, BONK sits at $0.00002372 with a 4.30% increase in the last 24 hours.

Shiba Inu (SHIB) and Pepe Coin (PEPE) are also experiencing excitement, contributing to the overall growth of the blockchains they operate on. This memecoin frenzy has notably boosted protocols like Coinbase’s Base, resulting in significant improvements in Total Value Locked (TVL) and daily transaction volumes.

The potential for Fantom to join these high-performing platforms arises if it decides to support memecoins, further enhancing its presence in the crypto market.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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