Snek (SNEK) is a relatively new memecoin on the Cardanoย (ADA) blockchainย tech that has gained considerable attention in the community.
The coin was established by a prominent member of the Cardanoย (ADA) community, known as $goofycrisp, as reported by the Cardanoย (ADA) Times. In theย preliminary presale, which tookย place from 11 P.M. EST on April 27th to 5 A.M EST on April 28th, 50 percent of the total supply of 76,715,880,000 SNEK cryptoย tokens were distributed to early investors and supporters of the project. The presale generated considerable interest, leading to a raise of 112k ADA via 519 transactions. Afterย theย presale, SNEK was launched on the Cardanoย (ADA) DEX, Sundaeswap, with an initial marketย capitalization of $275,000.
The remaining 50 percent of the SNEK supply was distributed across four key areas of the ecologicalย system. This included 40 percent for supplying initial liquidity, 5 percent for an as-yet-undisclosed special utility, 2 percent for community event airdrops/giveaways, and 3 percent for CEX listing requirements and future developments or opportunities. Itโsย worthย notingย that, the team did not allocate any of the circulating supply for their own compensation, leading numerous in the community to view the launch and allocation of SNEK as being conducted in a fair manner.
Since its launch, SNEK has grown rapidly, boasting over 11,000 holders and a marketย capitalization of 75,617,190 $ADA as of May 24th. The coin has likewise seen an impressive social media presence, with over a Million tweets mentioning $SNEK shared onย Twitterย platform duringย a matter of days. This attention has led to a wholeย lotย of influx of liquidity to the SundaeSwap DEX and a surge in traffic to TapTools, a website for tracking the price performance and trade history of Cardanoย (ADA) native cryptoย tokens and Non-Fungibleย Tokenย (NFT) collections.
The introduction of SNEK has reportedly attracted numerous new users to the Cardanoย (ADA) ecologicalย system, with newcomers from VeChain, Ethereumย (ETH), Solanaย (SOL) and other blockchainย tech platforms choosing toย participate with Cardanoย (ADA) for the 1st time. Furthermore, members of the SNEK community report a sense of increased unity and engagement within the broader Cardanoย (ADA) community.
As of the most up-to-date data from CoinGecko, the price of SNEK is $0.000e898, with a 24-hour volumeย ofย trading of $3,947,081. The total supply of SNEK remains at 76,715,880,000, with 4.16 percent of the total supply pooled. The fully diluted valuation is $30,713,038.
On social media, SNEK has garnered praise for its tokenomics, which include a fair launch, decentralization, large liquidity, a high percentage of pooled supply, and a low marketย capitalization. The official SNEK Twitter account (@snekcoinada) maintains an active presence and frequently engages with its followers.
As for whatโs ahead for $SNEK, theย next tweet offers some clues:
