A new platform, makenow.meme enables users to create meme coins directly via X (formerly Twitter) posts. This novel method has quickly captured the interest of the crypto community, offering a streamlined approach to launching meme coins.
As a matter of fact, over 4,000 meme coins have been launched in less than a week.
Crypto Leaders Test New Meme Coin Launch Platform
The process employed by makenow.meme is straightforward. Users initiate a tweet with a $ sign followed by the ticker name, describe the coin, tag @makenowmeme, and attach any relevant media.
“Coins may take a minute to deploy. Once deployed, we will reply to your tweet with the link to trade,” makenow.meme said.
Since its rollout on July 31, the platform has facilitated the creation of 4,229 meme coins, demonstrating significant enthusiasm from crypto enthusiasts.
Read more: 7 Hot Meme Coins and Altcoins that are Trending in 2024
Notably, industry leaders have engaged with the platform to test its capabilities. Alex Svanevik, CEO of the crypto analytics firm Nansen, launched a meme coin named IQ, which garnered widespread attention despite his cautionary remark.
“Testing some tech a friend built! Don’t ape this thing, goddamnit,” Svanevik posted on X
According to DEX Screener, IQ now boasts 2,950 holders and a market cap of $636,000, though it has declined by 84% since its inception.
Furthermore, the Solana-based decentralized exchange Raydium tested the platform by launching a meme coin called CTO. This initiative led to a significant profit for a quick-acting trader who turned an investment of 50 Solana (SOL) into 4,721 SOL—around $802,000—in merely an hour, as reported by Lookonchain.
This 94x gain highlights the extreme profit potential, albeit paired with substantial risk, inherent in trading meme coins.
However, the journey has not been without its hurdles. Makenow.meme faced operational challenges when X imposed rate limits and temporarily suspended its account, leading to a pause in the tweet-to-mint function. Currently, the service has resumed, allowing users to continue minting and trading new meme coins.
The popularity of meme coins is further evidenced by the achievements of Pump.Fun, makenow.meme’s main rival. Recently, Pump.Fun surpassed $80 million in cumulative revenue, driven by the high interest in meme coins among mainstream celebrities and crypto traders.
Read more: 11 Top Solana Meme Coins to Watch in August 2024
Remarkably, just days before makenow.meme’s debut, Pump.Fun eclipsed Ethereum in daily revenue, amassing $863,525 in 24 hours, according to DeFiLlama.
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