Snek token surged by nearly 36% within 24 hours amid the increasing trend of meme coins in the crypto sector.
Cardano is a popular Proof-of-stake (PoS) scalable blockchain network. Charles Hoskinson is the founder of this blockchain network, who is also known for his contribution to the Ethereum blockchain in its early phase.
In the present time, the $SNEK token is grabbing huge popularity among meme token lovers. At the time of writing this article, the current trade price of this token is 36% higher than the last 24 hours’ trade price, in ADA coins.
On 26 May, Popular crypto influencer & Founder of Crypto Capital Venture, Dan Gambardello, noted that the $SNEK token is emerging as a popular meme token in the Cardano blockchain ecosystem and it is now trading at an all-time high.
This meme token also grabbed the attention of the Cardano founder. On 11 May, Hoskinson talked about this token, because many people were talking about it.
$Snek token is the second meme token in the Cardano ecosystem. This first meme token on the Cardano Blockchain is the Hosky token.
Note: no meme token on any network has any kind of fundamental use cases & here this rule is equally applicable to the meme tokens, mentioned in this article. So don’t consider any mentioned meme token as financial advice.
Cardano founder vs Meme tokens
The Cardano founder himself is not a meme token lover & also in the past in 2021, he slammed Dogecoin as a worse investment choice.
But later in 2022, Hoskinson noted that meme tokens like Doge can bring a better amount of crypto users in any crypto protocol.
Later, he proposed the idea to implement Cardano as a sidechain on the Dogecoin blockchain.