YEREVAN (CoinChapter.com) — On August 2, Elon Musk’s platform, X, suspended the “makenowmeme” account. This account, which had 15,000 followers, allowed customers to create memecoins with a easy submit. Subsequently, customers on X found that the suspension was because of the account allegedly violating platform guidelines. In response, the account’s homeowners introduced on their web site that they’re working to revive it. In the meantime, minting has been paused.

How ‘makenowmeme’ Enabled Straightforward Memecoin Creation on Solana

The “makenowmeme” system let customers create memecoins by posting on X with a particular format. The submit wanted a $ticker for the token identify, an outline, and the @makenowmeme tag. Customers may additionally connect a picture or video. As soon as sufficient individuals purchased into the token, liquidity was added to Solana’s decentralized trade, Raydium, after which burned. This technique was much like the pump.enjoyable Solana memecoin generator.

The platform had a number of lively tokens, with the highest one, ‘Dogs,’ reaching a market capitalization of $184,000. The platform additionally deliberate to distribute MNM tokens when sure market cap and quantity milestones have been hit. These plans are presently on maintain.

Merchants Reap Fast Income with Memecoins: $802K Acquire in 1 Hour and Extra

Some merchants made vital income by “makenowmeme.” One dealer made 4,721 SOL, about $800,000, inside an hour. They purchased 257 million CTO tokens for 50 SOL and bought 228 million CTO, making a big revenue. On-chain analytics platform Lookonchain reported this transaction, showcasing the potential for fast features.

Alex Svanevik, CEO of Nansen, additionally used the platform. On July 31, he launched a memecoin known as IQ, explaining that he was “testing some tech a friend built.”

Regardless of advising warning, the token’s price and market cap elevated on launch day, in line with DEXScreener.