Trading volume of ADA has surged by more than 34% amid meteoric rise of new Cardano meme coin named after Charles Hoskinson’s pet pig, Nike
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At the same time, similar figures were demonstrated by trades of the Cardano token on the spot market. At the same time, however, the rest of the crypto market experienced a decline in trading volumes on Sunday, which seems more logical.
Is Nike behind Cardano’s rise in popularity?
It is likely that the spike in Cardano was caused by the hype surrounding a new meme coin called Nike.
![](http://u.today/sites/default/files/inline-images/taptools.io_Nike_2024-06-23_19-39-09.png)
However, despite the name, this cryptocurrency has nothing to do with the world-famous sports brand. Nike is the nickname of Cardano founder Charles Hoskinson’s pig, which he posted on his social media accounts last week.
To cut a long story short, enthusiasts quickly turned Nike into a meme coin that soared more than 40,000% in one week, reaching a capitalization of more than $15 million at its peak. And this coin was only created six days ago.
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Amid the hype, many started saying that Nike would be the asset that would put Cardano back on top. With this in mind, we can recall the story of BONK, which was the trigger for the rebirth of Solana (SOL) after the collapse of FTX at the end of 2022.
About the author
Financial analyst, trader and crypto enthusiast.
Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master’s program in banking and asset management.
He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.
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