Charles Hoskinson Promotes Pig-Themed Meme Coin Aiming for $1 Million Market Cap

Charles Hoskinson Backs Piggy Meme Coin on Path to $1 Million Market Cap

Crypto News- Cardano’s executive, Charles Hoskinson, has recently taken to his social media channels to promote the Nike meme coin. This new pig-themed token has seen its market cap soar to over $708,000 at the time of writing.

Hoskinson remarked that he was astonished that a picture of his pig had led to a meme coin approaching a million-dollar valuation in less than 12 hours.

Rapid Surge in Nike Meme Coin Following Hoskinson’s Social Media Post

This rapid rise comes just a day after Hoskinson shared an image of his pig, named Nike, on X. The post quickly inspired the creation of the meme coin, which gained significant traction. Initially, the fully diluted valuation (FDV) of Nike was $172,000, and in just 12 hours, it has surged by 312%, with further growth anticipated. Meanwhile, the Cardano ecosystem continues to be a focal point for the crypto community as the Chang Fork update looms.

The emergence of the Hoskinson-backed Nike meme coin adds to the ongoing trend of sector tokens grabbing headlines. The market has recently witnessed controversies around tokens like Iggy Azalea’s MOTHER and DADDY, associated with former kickboxer Andrew Tate. Amid these developments, a user on X questioned the sector’s value beyond entertainment and attention monetization. Despite mixed opinions, Ethereum co-founder Vitalik Buterin has weighed in on the celebrity meme coin trend, expressing his concerns.

Buterin commented that he was quite unhappy with this cycle’s celebrity experimentation, and could respect financialization as a means toward an end if the end is worthy, such as healthcare, open source software, or art.

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