The meme cryptocurrency SNEK, one of the largest assets on the Cardano blockchain, has seen a significant surge this week, adding more than 20% to its value. The price of SNEK, known for its snake mascot, rose from 0.00227 ADA to 0.00277 ADA since Monday.
The meme cryptocurrency SNEK, one of the largest assets on the Cardano blockchain, has seen a significant surge this week, adding more than 20% to its value. The price of SNEK, known for its snake mascot, rose from 0.00227 ADA to 0.00277 ADA since Monday.
This price increase has raised SNEK’s market capitalization to 203.74 million ADA, equivalent to $97.56 million. Currently, the token ranks as the third largest asset in the Cardano ecosystem, only behind WorldMobile (WMT) and SingularityNET (AGIX).
Gamza Khanzadaev
SNEK bills itself as “Cardano’s coolest meme coin,” with a mission to foster community growth, promote decentralized finance within the Cardano network, and reward its holders.
In recent years, SNEK has gained significant support from the Cardano community. This support underlines the popularity of the coin, and even caught the attention of Charles Hoskinson.
SNEK Price Outlook
However, despite its growing popularity and significant market capitalization, SNEK is still not listed on major exchanges such as Binance or OKX. The absence of listings on these major exchanges can be seen as an unrealized price trigger.
The recent price surge appears to be driven by the broader meme coin mania sweeping the cryptocurrency market. As meme cryptocurrencies inspired by various animals have seen triple-digit growth, SNEK has quietly made its presence felt, suggesting its rise may be just beginning.
Gamza KhanzadaevThe SNEK price chart indicates a pattern of rising lows, suggesting an uptrend as it approaches a key resistance level against ADA. If the current market sentiment continues, it could prompt more Cardano token holders to invest in SNEK, potentially amplifying its recent 21.6% rise.
