The emergence of a new platform, Makenow.meme, has made it easier for users to create their own memecoins directly from Twitter, in just four simple steps and for free. To generate a new token, users simply need to start their tweet with a dollar sign followed by the ticker name, include a description of the coin, tag the makenowmeme account, and attach an image or video. The platform has already seen some experimentation, notably from Alex Svanevik, CEO of Nansen Research, who launched the token $IQ. Despite cautioning users against investing, the token surged by 8,000% to reach a value of $0.006.
Makenow.meme operates on the Solana blockchain, where most of the recent memecoin activity has occurred. Similar to other memecoin creation platforms like Pump.fun, it uses a bonding curve mechanism. Once a token hits a certain market cap, it’s burned onto the decentralized exchange Raydium, making it tradable on the open market. The popularity of these platforms is evident, as Pump.fun recently recorded the highest daily revenue in all of decentralized finance (DeFi), surpassing even Ethereum, with earnings of $867,000 compared to Ethereum’s $844,000.
The trend of Solana-based memecoins has dominated the crypto space in 2024, becoming a major trend of this cycle. Celebrities like Iggy Azalea and Caitlyn Jenner have launched their own tokens, and politically-themed memecoins referencing figures like Trump and Biden have also emerged.
Despite the excitement, the website includes a disclaimer warning that memecoins are highly volatile and speculative, urging users not to invest more than they can afford to lose and not to expect any financial returns. This new trend of launching memecoins via Twitter has sparked some criticism, with some in the community expressing concern that this approach is pushing the meme culture too far. The pseudonymous user 5G, for instance, suggested that most of these tokens are destined to fail, warning that only those with strong communities and resilient teams will succeed, while others are little more than risky, speculative ventures.
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