Memecoin Degens Raise Millions for Rare Cancer Research After a Father’s Plea
A profit opportunity led to nearly $100 million in trading volumes for a charity-themed memecoin. While some speculators lost money, the effort bore fruit for the original cause.
What to know:
A memecoin named MIRA was created on Pump.fun after Siqi Chen, the founder of Runway, shared his daughter Mira's battle with a rare brain tumor.
The token quickly escalated from zero to an $80 million market capitalization, largely due to community support and the distribution of 50% of its supply to Chen by X user @Waddles_eth.
Despite an 80% drop in price from its Thursday peak, MIRA raised over $1 million for brain tumor research.
Chen committed to selling $1,000 worth of MIRA every 10 minutes to ensure funds continued flowing to the Hankinson Lab at the University of Colorado.
A Pump.Fun memecoin zoomed from zero to an $80 million market capitalization on Thursday after a father’s plea for donations to a research study for his daughter’s rare brain cancer attracted swathes of crypto traders.
The MIRA token’s price has fallen 80% from a Thursday peak and trades at just over a cent as of Friday. But while late buyers are sitting on losses, the effort raised over $1 million for the cause.