SNEK
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Cardano Memecoin SNEK Rises 56% After Energy Drink & Web3 Game Launch
Post By: CryptosHeadlines.com
The price of $SNEK, a well-known memecoin on the Cardano ($ADA ) platform, has increased by more than 56% in the past week and by over 16% in the last 24 hours, surpassing the overall cryptocurrency market performance.
Based on market data, SNEK had a trading volume of over $770,000 in the last 24 hours and a fully diluted market value of just $16.8 million, making it a relatively small cryptocurrency. This memecoin, which describes itself as the “chillest meme coin on Cardano,” has goals like building a community, supporting decentralized finance on Cardano, and providing rewards to its holders.
SNEKUSD Chart via TradingView
Growing Demand and Community Development Boost SNEK’s Price
The recent price increase in this cryptocurrency may be due to increasing demand, despite its limited liquidity. It’s important to mention that the SNEK community has been actively working on developing the SNEK ecosystem.
The SNEK community highlights that SNEK is the most actively traded asset within the Cardano ecosystem, which currently has a total value of $196.6 million locked in it. Specifically, over $90 million of these funds are in the decentralized exchange Minswap and the collateralized debt protocol Indigo, according to DeFiLlama.
SNEK Community Initiatives and Token Burning
The SNEK community has been busy with several projects, including the launch of an energy drink available in a 12-pack for $45. They’ve also been working on a web3 game set to be released soon and introduced a staking system called “Last Snek Standing” for token holders. This staking system rewards those who keep their tokens staked until the staking period ends.
Additionally, the SNEK community is implementing seven different methods to reduce the current circulating supply of 70.8 billion tokens. These methods include a token bridge, a staking pool, rewards from liquidity provider trading fees, lending, and an ADA raffle system, among others.
The rise in SNEK’s price coincides with Weiss Ratings endorsing Cardano as a valuable addition to any cryptocurrency portfolio during a bullish market. Weiss Ratings is a long-established US-based company providing analytical research on various investment options, including cryptocurrencies.
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.
#Bitcoin #CryptoNews #Cardano #Memecoin #SNEK
The price of $SNEK, a well-known memecoin on the Cardano ($ADA ) platform, has increased by more than 56% in the past week and by over 16% in the last 24 hours, surpassing the overall cryptocurrency market performance.
Based on market data, SNEK had a trading volume of over $770,000 in the last 24 hours and a fully diluted market value of just $16.8 million, making it a relatively small cryptocurrency. This memecoin, which describes itself as the “chillest meme coin on Cardano,” has goals like building a community, supporting decentralized finance on Cardano, and providing rewards to its holders.
SNEKUSD Chart via TradingView
Growing Demand and Community Development Boost SNEK’s Price
The recent price increase in this cryptocurrency may be due to increasing demand, despite its limited liquidity. It’s important to mention that the SNEK community has been actively working on developing the SNEK ecosystem.
The SNEK community highlights that SNEK is the most actively traded asset within the Cardano ecosystem, which currently has a total value of $196.6 million locked in it. Specifically, over $90 million of these funds are in the decentralized exchange Minswap and the collateralized debt protocol Indigo, according to DeFiLlama.
SNEK Community Initiatives and Token Burning
The SNEK community has been busy with several projects, including the launch of an energy drink available in a 12-pack for $45. They’ve also been working on a web3 game set to be released soon and introduced a staking system called “Last Snek Standing” for token holders. This staking system rewards those who keep their tokens staked until the staking period ends.
Additionally, the SNEK community is implementing seven different methods to reduce the current circulating supply of 70.8 billion tokens. These methods include a token bridge, a staking pool, rewards from liquidity provider trading fees, lending, and an ADA raffle system, among others.
The rise in SNEK’s price coincides with Weiss Ratings endorsing Cardano as a valuable addition to any cryptocurrency portfolio during a bullish market. Weiss Ratings is a long-established US-based company providing analytical research on various investment options, including cryptocurrencies.
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.
#Bitcoin #CryptoNews #Cardano #Memecoin #SNEK
Cardano Meme Coin SNEK Announces Gaming Breakthrough
#BTC SNEK, a popular meme coin based on Cardano, has unveiled its latest gaming breakthrough. This comes barely two months after the Cardano-based meme coin launched its branded energy drink.In a new tweet, #SNEK announced its snake game was now live. The game was developed in partnership with Paima, Vacuum #labs and Anvil and inspired by the famous snake game on Nokia phones. It will be the first play-to-earn game in the Snek ecosystem.🚨 Snek Game isss live 🚨🕹️ https://t.co/prbCfkYCoWWho will make the longessst $snek ? 🐍See details below 👇 pic.twitter.com/5SGIcxHq5Z— Snek 🐍 (@snekcoinada) December 29, 2023According to the Snek team, the game is currently available on desktop only, but a mobile version could launch in 2024. To celebrate the launch of the game, Snek says it will be adding 69 $ADA to the prize pool every day until Feb. 1.The Snek gaming innovation, which employs wrapped smart contracts, is noteworthy because it demonstrates the potential of the Cardano blockchain for gaming and entertainment.RelatedCardano Meme Coin SNEK Gets Listed on New #exchange SNEK's price has risen dramatically in recent months, boosted by positive developments, reaching an all-time high of $0.002246 on Dec. 16, 2023. The SNEK token was trading for $0.001271 at the time of writing, up 319% in the last 30 days.Cardano blockchain to see significant advancements in 2024Cardano is a rapidly growing ecosystem of decentralized applications for DeFi, NFTs and others that use tokens to exchange value for services.Along similar lines, Sebastien Guillemot, co-founder of Paima Studios, has hinted at new upcoming dApps that would leverage Cardano and Arbitrum, which are slated to launch in mid-January.RelatedCardano Founder Posts Unusual Tweet About Meme Coin 'SNEK'Paima Engine converts deterministic state machines into L2s that can connect to multiple chains, such as Cardano and Arbitrum, and be used by any app. This opens up the possibility of running a game on Arbitrum while still allowing users to own their NFTs on Cardano if they so desire.Speaking of updates, the Chang hard fork, which will start the bootstrapping period of the Cardano governance model, is expected to be implemented in 2024. Cardano will also take some major steps in 2024 to reach full community governance.🗣🗣Empower Our Mission: Tips For Dedicated Service. 🗣🗣👉Users are encouraged to support the mission by offering generous tips.🗣This empowers creators to work even harder, ensuring the continued delivery of top-notch investment advice. #ai @WISE CRYPTO NEWS
😱🚀🚀Cardano Meme Coin Motivates the Market: Why Is SNEK Exploding?
The price of Cardano meme coin SNEK is increasing.
Interest in SNEK was rekindled by conversations on social media.
SNEK has signed a new influencer partnership agreement .
While the Cardano meme coin has risen SHARPLY in the last 24 hours, the rest of the crypto Sunday has remained largely horizontal. The unexpected price increase has triggered discussions on social media among #Cardano enthusiasts and mem Decoin traders as to why the #SNEK token has risen.
On the last day, the 27% bear moved from the bottom to the top and rose from $0.0010624 to its intraday high of $ 0.0013464. Although SNEK's current price is well below the all-time high of $0.0028758 and the highest level to date of $0.0025057, the sudden resurgence of the token has ignited a frenzy on social media.
SNEK from Cardano Announces Partnership
SNEK's recent announcement that he will be partnering with the phenomenon Max Maher has ignited a social media frenzy. The SNEK team introduced Maher as the official investor and partner, praised his achievements and announced a "long-term structured plan" to grow the brand.
Addressing the SNEK community, Maher said, "You guys are really the strongest crypto community on the planet, I couldn't resist joining." The message caused the price of SNEK to rise.
#Memecoins #binance
The price of Cardano meme coin SNEK is increasing.
Interest in SNEK was rekindled by conversations on social media.
SNEK has signed a new influencer partnership agreement .
While the Cardano meme coin has risen SHARPLY in the last 24 hours, the rest of the crypto Sunday has remained largely horizontal. The unexpected price increase has triggered discussions on social media among #Cardano enthusiasts and mem Decoin traders as to why the #SNEK token has risen.
On the last day, the 27% bear moved from the bottom to the top and rose from $0.0010624 to its intraday high of $ 0.0013464. Although SNEK's current price is well below the all-time high of $0.0028758 and the highest level to date of $0.0025057, the sudden resurgence of the token has ignited a frenzy on social media.
SNEK from Cardano Announces Partnership
SNEK's recent announcement that he will be partnering with the phenomenon Max Maher has ignited a social media frenzy. The SNEK team introduced Maher as the official investor and partner, praised his achievements and announced a "long-term structured plan" to grow the brand.
Addressing the SNEK community, Maher said, "You guys are really the strongest crypto community on the planet, I couldn't resist joining." The message caused the price of SNEK to rise.
#Memecoins #binance
