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Cryptocurrency News Articles

MakeNowMeme X Account Is Back Online

Aug 02, 2024 at 07:35 pm

MakeNowMeme is the latest project to tap into the ongoing memecoin craze by allowing users to create and launch Solana-based memecoins by posting a tweet

MakeNowMeme X Account Is Back Online

Elon Musk’s social media platform X has reinstated the MakeNowMeme account following its suspension earlier on Friday for allegedly violating the platform's rules.

MakeNowMeme is the latest project to capitalize on the ongoing memecoin hype, enabling users to create and launch Solana-based memecoins simply by posting a tweet on X. The tweet must include the ticker symbol next to the token’s name, the coin’s description, and a tag mentioning X’s platform account.

MakeNowMeme X Account Restored

On August 2, the MakeNowMeme team shared an update, revealing that the project’s X account had been reinstated following a “brief suspension.” However, the team noted that its “tweet to mint” function would remain disabled until later.

The team has assured users that they can still mint and trade tokens on its website, which promises to deposit and burn a portion of a token’s liquidity on Raydium when “enough” people buy on the bonding curve. This mechanism is similar to the one used by the Solana memecoin generator pump.fun.

According to MakeNowMeme’s website, at least three tokens on the platform have a market capitalization exceeding $150,000. These include two memecoins both named “Dogs,” and a token labeled “WTF.”

Nansen CEO Alex Svanevik was among the first group of users to capitalize on the platform, launching a memecoin named IQ on July 31. According to Dexscreener data, IQ’s market cap quickly fell to around $300,000 after reaching over $9 million.

Svanevik stated that he was “testing some tech a friend built,” and urged users not to “ape” the memecoin.

Stay updated on the risks of short-selling Solana memecoins:

Short Selling Solana Meme Coins Can Wipe You Out: Here Are The Risks

Read about Hashkey OTC’s recent win in Singapore:

HashKey OTC Secures Singapore’s Major Payment Institution License

Original source:dailycoin

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