Cardano Founder’s Pig Inspires NIKE Memecoin, Hits Nearly $1M in 12 Hours

Cardano founder Charles Hoskinson’s pig, Nike, inspired a meme coin that clinched a market cap close to $1 million in 12 hours due to market interest.

Hoskinson has revealed on social media that a picture of his pig, named Nike, has inadvertently sparked the creation of a meme coin. This meme coin has surged to nearly a million dollars in market capitalization within just 12 hours. Notably, Hoskinson expressed his surprise over this rapid development.

I’m at a loss that a picture of my pig has resulted in a memecoin that is nearly at a million dollars in under 12 hours. pic.twitter.com/Hzhe0qjkI0

— Charles Hoskinson (@IOHK_Charles) June 18, 2024

NIKE Token’s Rise and Metrics

The memecoin, named “NIKE,” was showcased in a screenshot from TapTools, highlighting its market data. As of the snapshot, the token’s price stood at $0.00061 with a liquidity of $40.32K. The market capitalization reached $610.84K, and the fully diluted valuation mirrored this figure.

Per the snapshot, the daily trading volume was recorded at $274.39K. Performance statistics revealed substantial growth over various periods: a 1-hour increase of 88.83%, a 4-hour surge of 861.11%, and a 24-hour rise of 80,370%. Over the span of 7 and 30 days, the token maintained a consistent growth rate of 76,290%.

Buy and sell metrics showed a high level of activity with 1,189 buys and 749 sells. The buy volume was $159.70K, while the sell volume was $121.32K, reflecting significant trading interest in the newly minted token.

NIKE is Also Live on DexHunter

Following Hoskinson’s post, a commenter highlighted that the NIKE token was already live on DexHunterIO, providing further insights into its trading activity. The trading pair NIKE/ADA showed a token price of 0.037030 ADA.

Damn it pic.twitter.com/Ripejeef0M

— Charles Hoskinson (@IOHK_Charles) June 17, 2024

The 24-hour trading volume was 37K ADA, with 138 buys and 55 sells, indicating active participation. Liquidity was noted at 22K ADA, and the market capitalization was 80K ADA. However, the chart details revealed a slight dip in the current price, which was 0.000070 ADA, reflecting a price change of -6.67%.

Community Reactions and Related News

The rapid rise of the NIKE token has elicited mixed reactions from the community. While some expressed optimism, others voiced concerns about the speculative nature of such developments in the crypto space. One commenter remarked:

“This is everything that’s wrong with crypto and why a lot of people will never feel comfortable investing in it.”

Meanwhile, elsewhere, Charles Hoskinson recently humorously speculated in an interview about Tesla CEO Elon Musk potentially holding 20% of the Dogecoin supply.

During the conversation on The Thinking Crypto podcast with host Tony Edward, Hoskinson discussed a range of topics including the Midnight airdrop and the forthcoming Chang hard fork.

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