Charles Hoskinson, founder of the leading smart contract platform Cardano, recently expressed his curiosity about a new meme token, called Snek (SNEK), that launched on the Cardano blockchain. Hoskinson posted his curiosity on Twitter, which was met by people sending pictures and GIFs of reptiles, rather than an answer. Hoskinson's Tweet has started speculation that Snek might have been created as a tactic to promote the newly launched meme coin.

Snek was founded by the Cardano community member goofycrisp, along with MasterofC from the Chilled Kongs Team and JSHy, a jpg.store team software engineer. The total supply of the token is 76.7 billion, with 50% allocated to presale, while the remaining 50% being distributed between DEX liquidity, special utility, project treasury, and airdrops.

The presale of Snek went live on April 27, and within minutes of it going live, the presale address saw the reception of more than 2,000 ADA tokens. After six hours, the presale saw tremendous traction that had the token raise a total of 112K ADA in 519 transactions. Following a successful presale, Snek launched on SundaeSwap, with a market capitalization of $275K. According to CoinMarketCap, SNEK is currently trading at $0.0001021, up by 15% in the past 24 hours.

Tremendous success of the token has caused a stir on the Cardano community, resulting in its founder taking notice of the new project. Although originally intended to be a medium for humorous content, Snek has managed to carve its place in the Cardano community in a very short amount of time. Whether it was created as a marketing tactic or not, Snek has managed to draw positive attention to the blockchain and is a testament to its strength.



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