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Over 4,000 Meme Coins Launched Through New X-Based Platform

2 mins
Updated by Harsh Notariya
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In Brief

  • New platform, makenow.meme, allows users to create meme coins via X posts, launching 4,000+ coins in under a week.
  • Industry leaders test makenow.meme, with notable launches including IQ and CTO coins, price plummets immediately after launch.
  • Makenow.meme faced operational issues but resumed service; competitor Pump.Fun surpasses $80 million in cumulative revenue .
  • promo

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

Number of Minted Meme Coins Through makenow.meme.
Number of Minted Meme Coins Through makenow.meme. Source: Dune

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

Pump.Fun Revenue
Pump.Fun Revenue. Source: DefiLlama

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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Harsh Notariya
Harsh Notariya is an Editorial Standards Lead at BeInCrypto, who also writes about various topics, including decentralized physical infrastructure networks (DePIN), tokenization, crypto airdrops, decentralized finance (DeFi), meme coins, and altcoins. Before joining BeInCrypto, he was a community consultant at Totality Corp, specializing in the metaverse and non-fungible tokens (NFTs). Additionally, Harsh was a blockchain content writer and researcher at Financial Funda, where he created...
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