Launch of IQ Memcoin on Solana Network: An Initiative by CEO Nansen
Date: 2024-08-05 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
Alex Svanevik, CEO of analytics platform Nansen, recently announced the launch of a new memecoin called IQ on the Solana network. This move has attracted significant attention from the cryptocurrency trading community and has generated discussions on various platforms. In this article, we will take a closer look at how the memecoin was launched, what technology Svanevik used, and what results IQ has achieved in the market.
Idea and Technology
Alex Svanevik, CEO of Nansen, a well-known blockchain analytics company, decided to test a new technology created by his friend. To create and launch the IQ memecoin, Svanevik used the MakeNowMeme platform. This platform allows users to create tokens after publishing a message on the social network X (formerly Twitter) in a certain format.
MakeNowMeme is an analogue of the pump.fun platform, providing convenient tools for quick creation of memecoins. After the activity of traders around the new memecoin increases, the coin's liquidity is listed on the decentralized exchange Raydium.
Trading and Market Indicators
The launch of the IQ memecoin caused a flurry of activity in the market. According to DEXScreener, in the first 24 hours, the IQ trading volume reached an impressive $35 million. The token's market capitalization exceeded $10 million, which indicates high interest in the new asset.
However, after some time, the value of IQ dropped sharply, and the total value of tokens fell to $1.45 million. At the time of writing, IQ is trading at $0.0013, which reflects the significant volatility typical of memecoins.
The launch of the IQ memecoin on the Solana network confirms the growing interest in this blockchain platform. Solana recently surpassed Ethereum in DEX trading volume, reaching $13.3 billion in just one week. This demonstrates the high level of activity and interest in Solana from traders and developers.
MakeNowMeme Platform
The MakeNowMeme platform has become an important tool for the launch of IQ. It provides the ability to create tokens using social media posts, making the process fast and accessible. This approach allows you to quickly respond to trends and launch new assets with minimal time and resources.
MakeNowMeme is not just a platform for creating memecoins. It also helps increase the liquidity of new assets by listing them on popular decentralized exchanges such as Raydium. This ensures accessibility and ease of trading for users.
The launch of the IQ memecoin by Alex Svanevik on the Solana network was a significant event in the cryptocurrency world. Using the innovative MakeNowMeme platform demonstrated how modern technologies can accelerate the process of creating and implementing new digital assets. Despite high volatility and a decrease in capitalization, the project attracted attention and demonstrated the potential of the Solana network for launching and trading memecoins.
In the future, we can expect to see new memecoins and other digital assets created using similar technologies. This opens up new opportunities for traders and developers, and contributes to the further development of the blockchain industry.
