Post By: CryptosHeadlines.com
The ongoing airdrop campaign for Memecoin (MEME), a new Ethereum-based token, has distributed approximately 2.35 billion tokens to community members.
Based on data from the Lookonchain analytics platform, eligible community members have claimed 2.35 billion MEME tokens in the airdrop, which are collectively valued at $52.4 million.
The MEME Airdrop Bounty
MEME’s ongoing airdrop has been a hot topic in the crypto community, with Lookonchain data revealing that some recipients have become millionaires.
Notable recipients include @lastvikingeth, who claimed 50.73 million MEME worth $1.13 million, @dingalingts with 26.88 million MEME valued at $599,000, @Keungzeth, who received 24.92 million MEME worth $555,000, and @BitroxEth, who claimed 20.62 million tokens valued at $459,000.
Particularly impressive is user @General6316, who reported receiving an airdrop worth $8 million, already claiming 20% of the funds.
Despite the airdrop and potential selloffs, MEME’s price has risen by 5.23% to $0.02842, with a market capitalization of $234,918,203 and $463,225,700 in total traded volume.
MEME and Industry Backing
9gag’s Memeland is the creative force behind MEME, a cryptocurrency with a focus on humor and memes. Unlike many cryptocurrencies, MEME doesn’t make grand promises of utility or potential returns, as seen in its Whitepaper. Nevertheless, it has garnered significant popularity, bolstered by its listing on the Binance exchange.
To be eligible for MEME, users need to be part of Memeland, a platform known for its NFTs and applications that connect with the metaverse. The current airdrop primarily targets users who hold Memeland’s NFTs, and future plans include rewards for farming.
Industry Support and Expectations
The level of industry support MEME has received might be surprising, but it’s worth noting that 9gag, the startup behind Memeland, has backing from YCombinator. This support has likely played a role in MEME’s success.
To secure its long-term potential, Memeland may need to expand its offerings. Many memecoin projects, like Shiba Inu and Floki, are transitioning toward more functional platforms that cater to their respective communities. MEME could benefit from a similar evolution to enhance its viability.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.