Binance has published a new guide on how to buy Cardano-based SNEK.
Memecoin sensation has been sustained with hopes for massive returns still huge.
Binance, the world’s largest crypto exchange by trading volume, recently provided a comprehensive guide on how to buy Snek (SNEK), the newly created MEME token based on the Cardano blockchain.
Following the update, the crypto community has speculated that Binance is planning towards listing the memecoin on its platform. As expected, many crypto enthusiasts shared their excitement that the largest cryptocurrency exchange has joined the SNEK conversation.
Markedly, SNEK founder Goofy Crisp, a crypto engineer, and investor, expressed his excitement over Binance’s support for SNEK on his official Twitter account. In his tweet, he wrote:
Looks like Binance wants people to buy SNEK…
Also, Charles Hoskinson, Cardano’s founder expressed interest in the SNEK memecoin recently when he asked about it on Twitter. Hoskinson’s request seems harmless, but one cryptocurrency enthusiast responded that the Cardano founder was trying to promote the coin.
It is worth noting that Binance’s provision of resources tailored to purchasing SNEK, suggests that the firm is acknowledging the popularity and demand for memecoins. By offering information on how to buy SNEK, Binance is catering to the needs of its users and providing them with the necessary tools to engage in trading these assets.
This proactive approach can be seen as a response to the market demand for memecoins and an acknowledgment of their significance within the crypto space.
Can SNEK Bring Huge Returns for Investors?
While Shiba Inu (SHIB), PEPE, and other memecoins are making notable progress in the crypto space, SNEK could potentially become a big competitor to these viral alternatives.
As mentioned earlier, SNEK is a memecoin based on the Cardano network founded by Cardano community member goofy crisp. Other well-known co-founders include MasterofC on the Chilled Kongs team and software developer JSHy on the jpg.store team.
Notably, SNEK’s prominent team members are using their influence to promote and market the memecoin, leveraging their reputation to generate interest and attract investors. They are utilizing various channels such as social media, interviews, conferences, and partnerships to create buzz and raise awareness about the memecoin.
Additionally, the expertise and experience of the team can also lend credibility to the project, potentially attracting a wider audience who may view their involvement as a positive sign.
Interestingly, in a 6-hour pre-sale of SNEK which was conducted on April 27, users were able to buy the tokens as low as 20 ADA coins. The pre-sale was heavily promoted on Twitter, resulting in over 2,000 ADA being sent to pre-sale addresses just one minute after launch. About 112,000 ADA coins were sold in 519 transactions during the presale.
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According to current data, the SNEK token is trading at $0.0001945 with a 16.90 percent growth in the past 24 hours, suggesting an increase in price. Additionally, The trading volume is roughly 7.35 percent of the market capitalization, indicating moderate trading activity.
Hopefully, if the price of SNEK continues to grow and the adoption rate increase, investors could see their investments generating huge returns. Whether or not the rate of returns will generate millions like PEPE and Shiba Inu, remains what is hard to predict.
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