One of the founders #Venmo , Iqram Magdon-Ismail, along with the first investor Sam Lessin, just launched the JELLYJELLY token on the Pump.fun platform. This token rapidly reached a market capitalization of $250 million, which is expected to support the upcoming JellyJelly video sharing app.
Remarkable Growth of JELLYJELLY
#JELLYJELLY was launched on Pump.fun late on Wednesday and immediately gained attention. After Sam Lessin posted information on X (formerly Twitter), this token surged 1,278% from a market cap of only $18.38 million to $253 million in just 4 hours. However, the token later adjusted down by 42% to $145 million in the next 8 hours.
JellyJelly Video Application
JELLYJELLY is not a meme coin as many initially thought, but is actually a token with a clear purpose. This token will give holders early access to the JellyJelly video sharing app. This app allows users to record video calls and automatically create short clips to share on social media.
The JellyJelly app currently has a TikTok-like interface that allows users to scroll through uploaded videos. The founders stated that this app will help podcasters and #livestream automatically create short clips from calls instead of having to do it manually.
Potential From JELLYJELLY Token
Although the method of integrating tokens into the JellyJelly app is still unclear, Iqram Magdon-Ismail and Sam Lessin are exploring ways to monetize this token, which may include a token tipping feature (booster) or unlocking premium features in the app.
JELLYJELLY has joined the new trend of startup projects using Pump.fun to build fame and raise funds for new products. This is a strategy similar to what has occurred with AI tokens like ElizaOS or Vine Coin from the founder of Vine.
