The cryptocurrency area is certainly filled with surprises. Lately, an rising meme coin known as $MEME, which has no roadmap or utility has already raised over $11 million in its ongoing firesale.

Memecoin (MEME) Achieves A Main Milestone With Firesale

MEME is an Ethereum-based memecoin that operates underneath the ERC-20 network, with a complete provide of 69 billion MEME tokens. The token was designed by a web3 startup known as Memeland and launched by the crew that labored on 9GAG.

In keeping with the Memecoin fire sale page, the model new meme coin reportedly bought over 11.4 billion MEME tokens promoting at $0.001 in its ongoing firesale. This means a major 150% surge, beating the crew’s expectations from the very starting.

The token’s lively firesale which has amassed over $11 million already has achieved this regardless of being a waitlist-only sale.

Consistent with Memecoin’s whitepaper, the crew highlighted that the token “has no capabilities, no utility and no intrinsic worth, no promise or expectation of any monetary return, revenue, curiosity or dividend.” 

The crew additional asserts that in regard to the Memeland ecosystem, the Memecoin doesn’t symbolize “any entitlement to any voting rights.” 

Nonetheless, regardless of the meme coin not having a roadmap, utility, and future return, it didn’t sway crypto traders from buying the meme coin. As well as, the crypto group remains to be desirous to buttress the startup, demonstrating crypto traders’ belief and religion within the new meme coin.

In keeping with knowledge from MEME’s tokenomics, it was revealed that the primary 2.7% of the whole provide of the MEME token might be launched on October 27. In the meantime, the remaining portion might be “unlocked each day over the course of eighteen months.”

Meme Coin Captures Crypto Traders’ Curiosity

The cryptocurrency group’s curiosity within the newly launched MEME token will be traced again to the longer term revenue potentials of meme coins. Meme cash can supply enormous funding returns for traders, though they will also be dangerous for individuals who don’t interact in correct analysis earlier than investing within the tokens. 

One notable meme coin that has garnered enormous returns for traders and produced tons of of millionaires within the 2021 bull run is the Shiba Inu (SHIB) meme coin. 

Associated Studying: The Battle of Memecoins: EverLodge vs Shiba Inu – Which Holds the Key to Success?

The Dogecoin rival was launched in 2020 however later rose to fame in 2021 after vital value surges. The token has managed to stay an important meme coin to at the present time.

The Shiba Inu was launched with an preliminary value of $0.000000001009, in line with CoinMarketCap. By Could 2021, the token was traded at $0.00003469, indicating an over 10,000% surge in value. The token is the forex being traded at $0.000008 as of the time of writing.

Featured picture from Memeland, chart by Tradingview.com