The ongoing robust airdrop campaign of the new Ethereum-based token Memecoin (MEME) has seen about 2.35 billion tokens distributed to community members.
According to data from analytics platform Lookonchain, eligible community members have claimed 2.35 billion MEME in the airdrop thus far. The valuation of these claimed tokens comes in at $52.4 million.
The #airdrop frenzy of $MEME is ongoing!
A total of 2.35B $MEME ($52.4M, 13.6%) has been claimed so far.@lastvikingeth claimed 50.73M $MEME($1.13M)@dingalingts claimed 26.88M $MEME($599K)@Keungzeth claimed 24.92M $MEME($555K)@BitroxEth claimed 20.62M $MEME($459K) pic.twitter.com/973S0PFrRS
— Lookonchain (@lookonchain) November 3, 2023
The MEME Airdrop
The airdrop associated with MEME remains one of the hot topics in the crypto community. MEME’s distribution, per Lookonchain’s data, has turned some recipients into millionaires.Â
One X user @lastvikingeth claimed a total of 50.73 million MEME valued at $1.13 million. Another user @dingalingts claimed 26.88 million MEME worth $599,000, user @Keungzeth received 24.92 million MEME valued at $555,000, and user @BitroxEth claimed 20.62 million of the token worth $459,000.
While these figures show the protocol’s generosity, the claimed figures pale in comparison to user @General6316 who self-reported bagging an airdrop worth $8 million with 20% of the funds claimed already.
With the airdrop campaign tagged one of the biggest in recent times, MEME’s giveaway underscores the importance of community participation.Â
Despite the airdrop and the susceptibility to selloffs, MEME’s price is up 5.23% to $0.02842. MEME has a market capitalization of $234,918,203 with a total of $463,225,700 traded overnight.Â
MEME and its Industry Support
Memeland is the brainchild of 9gag, the Web3 startup known for its meme prowess. Despite no promise of utility and potential returns as showcased on its Whitepaper, MEME has gained immense popularity complemented by the listing on Binance.
Qualifications for MEME hinge on affiliation to Memeland, a platform known for its NFTs and applications joining metaverses. Specifically, Memeland confirmed the current airdrop targets users holding its NFT with plans for rewards from farming set to launch later.
The industry support for the project appears shocking but considering the backing of 9gag by YCombinator, the trend is expected.Â
To solidify its potential, Memeland may need to double down on its offerings considering the key switches of most memecoin projects including Shiba Inu and Floki toward more functional platforms that can serve their respective communities.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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