According to U.Today, a new meme coin called NIKE has emerged in the Cardano ecosystem, gaining significant popularity within 24 hours of its creation. The coin was inspired by a social media post by Charles Hoskinson, the inventor of Cardano, showing a picture of his pet pig Nike. The NIKE coin has quickly reached a market capitalization of ADA 1.72 million, which is about $650,000. Its trading volume has also reached 1.51 million ADA, making it the third most traded token in the Cardano ecosystem in the last day.
Hoskinson expressed amazement at the rapid rise of the meme coin, whose value approached one million dollars in less than 12 hours after he first posted it. NIKE continues to gain momentum and pose a challenge to another popular meme coin in the Cardano ecosystem, SNEK. SNEK, currently 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 has sparked speculation as to whether it could surpass SNEK in both popularity and value.
This unexpected event underlines the enthusiasm of the Cardano community and the influence of attention on market trends. The emergence of NIKE as a strong competitor against established tokens such as SNEK could potentially intensify competition between meme coins within the Cardano ecosystem. As this new development unfolds, many in the ADA community are eager to see if the pig-themed coin can trump its snake-themed rival.
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