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Is 'Meow' The Next 'Dogecoin Killer'? Vitalik Buterin Tweets 'Meow' In Chinese, Sparks $5M Memecoin Launch

Published 30/01/2024, 17:18
© Reuters. Is 'Meow' The Next 'Dogecoin Killer'? Vitalik Buterin Tweets 'Meow' In Chinese, Sparks $5M Memecoin Launch

Benzinga - Ethereum (CRYPTO: ETH) co-founder Vitalik Buterin sparked the launch of yet another unusual memecoin in the most unsual of manners: he tweeted, "We'll learn to meow together. We'll meow together." - in Chinese.

What Happened: The tweet in question was a reply to another tweet, partially in Chinese, that had no cat reference at all:

Buterin's response can only be interpreted as a joke, but the memecoin launch it spawned was anything but. With the ticker "喵喵喵喵," Chinese for " meow meow meow meow," the memecoin raced to a market capitalization of over $5 million within the first four hours of launching.

An endorsement from Tron (CRYPTO: TRX) founder Justin Sun may have helped - Sun tweeted, "Whoever issues Meow Meow Coin will immediately get it listed on @Poloniex," his cryptocurrency exchange.

Read Also: Unknown Trader Turns $1,031 Into $490,000 Following A Vitalik Buterin Tweet About A Mediterranean Town

Why It Matters: Even within the curious world of memecoin launches, this particular instance stands out.

The most successful memecoins have always had English tickers - a multi-million "Chinese" memecoin would be somewhat of a first.

Moreover, dog-themed memecoins have dominated the market so far, from established giants like Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) to "new kids on the block" like Dogwifhat and Bonk (CRYPTO: BONK). "Dogecoin killer" candidates have been dog coins thus far, with the notable exception of Toshi, the cat-themed memecoin on Coinbase's Layer-2 Base chain.

Cryptocurrency traders on social media immediately jumped on the trend. WEN, the Solana-based memecoin that airdropped its way to a $150 million valuation, retweeted Buterin's post with "Meow."

Trader Eric Cryptoman sees good things coming for "Meow:"

What's Next: Frankly, no one knows what's next for "Meow" but another memecoin launch is often only one Elon Musk tweet away.

Read Next: Forget GameStop Stock, Now There's A GameStop Memecoin And It's Worth Millions

Photo: Shutterstock

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

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