The meme cryptocurrency Snek has achieved a new all-time high, as noted by Dan Gambardello, founder of Crypto Capital Venture, ardent supporter of Cardano, and crypto YouTuber.
He wrote that this milestone is significant not just for Snek itself and its holders but also for the Cardano chain as a whole because this meme currency is built on Cardano.
Snek surges 26%: New all-time high
A meme coin called Snek was introduced in the middle of May. The currency has already achieved two all-time highs before its maiden month on the market has even come to an end.
Today’s new historic price high was attained at the $0.0005351 level earlier. Even if the currency has grown by 26% in the past day, it is still trading about 7% behind its all-time high.
The coin’s developers refer to Snek as “the chilliest meme coin on Cardano.” Snek earlier this week showed startling weekly growth of over 200%. Since the coin’s inception on May 15, when it hit its all-time low, it has increased dramatically by a whopping 336.37%. It has a total supply of 76,715,880,000 Snek. On CoinMarketCap, the currency is now rated 2,729th.
Charles Hoskinson, the co-founder of Ethereum and a visionary millionaire and mathematician who founded Cardano, has previously been assaulted by this meme coin.
This is not the first meme coin on this well-known blockchain that has recently drawn significant interest from the cryptocurrency world. The HOSKY meme currency has recently gained popularity among Cardano users.
Meme coins on rise
The popularity of coins with meme-inspired designs has increased this year. Following the rise in popularity of the original meme coin DOGE, its imitators SHIB, BabyDoge, and FLOKI, which were inspired by Elon Musk and shiba inu dogs, as well as other currencies based on memes other than those about dogs, started to appear.
PEPE, a currency based on the well-known internet joke about Pepe the Frog, was developed and released into the world by an unnamed team of developers in April. Cardano was then followed by Snek, whose logo included a snake image.
PEPE shocked the market shortly after it was published, rising in price and being added to a number of prestigious exchanges, including Binance’s Innovation Zone. There was also included FLOKI.
Many shrewd traders have been successful in quickly earning millions of dollars on PEPE.
