- DED is about to launch quickly and would be the first meme coin within the Polkadot group, and expectedly, it’s driving up pleasure in the neighborhood and curiosity in DOT.
- Analysts anticipate the launch of DED to push up the value of DOT as solely DOT holders will obtain the meme coin in its airdrop, and the extra DOT one owns, the upper the DED they obtain.
Earlier than Bonk launched, curiosity in Solana had waned, however the meme coin reignited SOL and led to the short sellout of fifty,000 Solana Saga Web3 smartphones. Polkadot is hoping for the same trajectory as soon as DED, the ecosystem’s first meme coin, launches, however will the brand new token garner sufficient curiosity to propel the value of DOT?
Meme cash began as a joke, with Jackson Palmer and Billy “Shibetoshi” Markus launching Dogecoin in 2013 to poke enjoyable on the severe nature of the Bitcoin group. Then got here the 2017 bull market, and DOGE minted a number of millionaires as its worth skyrocketed. Others have launched with related outcomes, from Shiba Inu to Pepe Coin to the most recent, Bonk.
The Polkadot group is looking for to leap in, and DED is scheduled to launch quickly as the primary meme coin for the ecosystem. Not a lot info is accessible on the brand new meme coin, nevertheless it’s already garnering heightened curiosity in social media circles.
Which Polkadot #memecoin group is greater?
— Polkadot Insider (@PolkadotInsider) December 22, 2023
One of many folks behind the challenge, Giotto De Filippi, the brand new meme coin shall be clear and totally decentralized. He instructed one outlet that the challenge is the end result of the contribution from the Polkadot group.
He told the outlet:
The DED coin is known as a testomony to the power of the Polkadot group. The devoted Polkadot group have constructed this from the bottom up in a totally permissionless, decentralized, and clear approach whereas bringing again the enjoyable and whimsy that made many meme cash profitable in their very own proper.
Will DED Push Polakdot (DOT) to New Heights?
The affect {that a} meme coin can have can’t be overstated. Bonk is the perfect instance; earlier than it took off, Solana Labs struggled to promote its smartphones, having bought lower than 2,000. As CNF reported, Solana Labs was contemplating including new options to the cellphone to make it stand out within the wildly aggressive Android smartphone market.
Then Bonk began to take off, and buyers realized that buying a Saga smartphone got here with a 30 million Bonk token airdrop. In hours, all 50,000 smartphones bought out, and on some platforms like eBay, it went for as a lot as $5,000, 4 occasions increased than the costliest iPhone.
Traders guess DED may be as transformational for Polkadot as Bonk was for Solana. For one, the brand new meme coin will all be airdropped to homeowners of DOT tokens. The founding crew pledged to not go away any tokens for the founders or conduct any pre-sale. This incentivizes buyers to gobble up as a lot DOT as doable to face the prospect of stocking up on the brand new meme coin.
DOT trades at $7.5 at press time, dipping by 3% up to now day and 14% up to now week.
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