Alex Svanevik, the CEO of Nansen, a onchain analytics platform, has introduced a novel memecoin known as IQ.
The CEO of Nansen, a onchain analytics platform, Alex Svanevik, has introduced a new memecoin based on Solana, IQ.
The crypto data platform DEXScreener reports that IQ’s market capitalization increased to $5 million within a day of its introduction. On July 31, at 11:22 a.m. ET (15:22 UTC), the token’s price is $0.0061 USD and 0.00003370 SOL, representing a 7,000% increase in the previous 24 hours.
“I am currently testing some technology that a friend has constructed,” Svanevik stated on the social media platform X.
Investors who acquire a cryptocurrency or other digital asset without conducting adequate investigation are subject to the term “aping.”
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Svanevik utilized MakeNowMeme to initiate the memecoin. The platform enables users to initiate a new memecoin by posting a tweet on X that conforms to a specific format.
Similar to the memecoin platform Pump.fun, the liquidity of a new MakeNowMeme token is posted onto the decentralized exchange Raydium before it is incinerated when a sufficient number of users purchase it.
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