A new meme coin, Elawn Moosk, themed around Elon Musk, has surged an astounding 26,896% on the Solana blockchain. Despite the broader downturn in the crypto market, Solana's meme coin markets continue to exhibit remarkable activity.
Elawn Moosk token, launched on April 15 at 21:00 UTC, initially experienced modest traction. However, within the first 36 hours of trading, it fluctuated within a staggering 3,500% range. Notably, a significant surge occurred at 2 AM UTC on April 17, with over $9.5 million in trading volume flooding the market.
Subsequently, the token's price soared by an additional 680%, reaching an all-time high of $0.0078 around 7 AM on April 17. Despite a subsequent retracement of -60%, the token's price found support at $0.003, with 3.64k holders showing resilience, hinting at potential for further upward movement.
Amidst the fervor surrounding Elon Musk-themed tokens, attention is turning towards Dogeverse (DOGEVERSE), a multi-chain meme coin. DOGEVERSE, currently in its presale phase on AVAX, has already raised over $5 million.
Operating across Ethereum, Polygon, BNB Chain, Solana, Avalanche, and Base, DOGEVERSE's multichain feature is attracting investor interest. With a capped supply of 200 million and staking options, it's anticipated that supply scarcity will contribute to price appreciation over time. Additionally, being the first omnichain Dogecoin adds to its viral appeal.
Mehdi Brahimi, head of institutional business at L1, said the integration of on-chain real-world assets and wallet infrastructure will replace intermediaries and become the standard for the modern asset management lifecycle.
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