SOL Coin Presale Raises $10.4 Million in Less Than a Day
An artist known as Kero recently launched a presale for a meme coin on the Solana network. The presale was initiated after the artist conducted a poll among their followers on X, asking whether they should create a coin on Solana. With 5,000 votes in favor, Kero posted a wallet address and quickly accumulated funds totaling nearly 55,000 SOL (approximately $10.4 million).
The Birth of SNAP Coin
Initially unsure of what to create, Kero decided to name the coin SNAP in honor of their original meme character Coco. Coco is a crocodile drawn in the style of Pepe the Frog, a popular meme character. Kero has featured Coco in their NFT collections, which consist of digital trading cards inspired by famous artworks, memes, and internet culture.
Contributions and Community Reactions
An analysis of blockchain data by Solscan revealed that many contributors made small donations. The median contribution was 1 SOL, which has doubled in value over the past few weeks due to Solanaโs price surge. On average, contributors donated around 3.5 SOL, while some wallets contributed hundreds of SOL. The meme coin presale surprised members of Xโs crypto community, with some expressing disbelief over the artistโs sudden success.
Launch Date and Precautions
Kero has not announced an official launch date for the SNAP coin but stated that it will not be released until after 21:00 UTC on Sunday to ensure proper development and minimize errors.
Hot Take: A Surprising Success for Kero
The presale of the SNAP coin on Solana has generated significant attention and funding for the artist Kero. Despite initial uncertainty about what to create, Keroโs decision to launch a meme coin based on their original character Coco has resonated with their followers. The rapid accumulation of funds, totaling $10.4 million, demonstrates the enthusiasm and support within the crypto community. As the launch date approaches, all eyes will be on Kero to see how they utilize this newfound success and contribute to the growing world of meme coins.
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