According to Foresight News, Alex Svanevik, CEO of the on-chain analysis platform Nansen, launched a new Meme coin IQ based on Solana. According to DEXScreener data, IQ grew to a market value of US$5 million within one day of its launch. The current price of IQ is US$0.0061, up 7,000% in the past 24 hours.

Svanevik used the MakeNowMeme platform to launch its Meme Coin, which allows users to start a new Meme Coin from a post on X, requiring users to post a tweet with text in a specific format.