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Snek: The Next Pepe? Charles Hoskinson Pushes Memecoin to Millions

• Charles Hoskinson inquires about a new meme coin called Snek, based on the Cardano blockchain.
• Coinbase apologizes for remarks on Pepe coin which created millionaires in just a few days.
• Blockchain security firm PeckShield has flagged several meme coins as scams.

Introduction

This article is about a new meme coin based on the Cardano blockchain, called Snek, which has caught the attention of Charles Hoskinson and caused Coinbase to apologize for remarks made regarding Pepe coin. Additionally, blockchain security firm PeckShield has flagged certain scam meme coins.

Snek Pre-Sale

A pre-sale of Snek was conducted on April 27th and lasted for 6 hours with users able to buy tokens as low as 20 ADA coins. The pre-sale saw over 2,000 ADA sent to the pre-sale address in just one minute after going live and 519 transactions hit around 112K ADA coins altogether. After this, Snek launched on the decentralized exchange SundaeSwap with a market cap of $275K and has a total supply of 76,715,880,000 tokens allocated 50 percent to pre-sale, 40 percent to DEX liquidity and 5 percent 3 percent & 2 percent respectively dedicated to special utility project treasury & airdrops.

Charles Hoskinson’s Inquiry

In response to the growing popularity of this token Charles Hoskinson tweeted: What the heck is this Snek thing that people keep tweeting about? This was met with pictures and gifs of snakes and other reptiles by some enthusiastic Cardano supporters while others found it an attempt by him to promote it further.

Coinbase Apology Regarding Pepe Coin

Pepe coin was recently discussed in several crypto forums after creating millionaires within days prompting Coinbase to apologize for remarks made regarding it’s success.

Rug Pulls Detected By PeckShield

Meme coins are popular for their ability to stage significant percentage surge within days but blockchain security firm PeckShield detected rug pulls involving creation of ~10 Scam Coins within last three days.