“SNEK is a meme coin with no intrinsic value or expected financial return. There is no formal team or roadmap. The coin is for entertainment purposes only.” This is written on the front page of Snek’s website. You may think there is no worth in it so you can skip this coin. But wait.
Think of Shiba Inu and Dogecoin. Think of all the meme coins that had their own successful gains. They are all meme coins with no intrinsic value in them. What if Snake is the next one to skyrocket? In the case of meme coins, most of the predictions fail. Usually, when the community behind the meme coin is strong, we see an upward momentum. Let us analyze it in detail.
What is SNEK?
SNEK is a meme coin launched on the Cardano blockchain. It is a deflationary coin. It has become a cultural movement and an icon in the web3 world, within a short span of time. SNEK became the most traded token on Cardano recently and is strongly backed by the community.
Like other popular meme coins, such as Shiba Inu and Dogecoin, SNEK has established itself as one of the top meme-based cryptocurrencies. It has seen both strong buy and sell throughout this bull phase of the market. It pushes the limits of what a memecoin can achieve, with a vision to bring social and decentralized finance within and beyond the Cardano ecosystem.
SNEK Tokenomics
Snek is a deflationary token, so its total supply reduces over time. In most deflationary tokens, the price increases with long-term holding. The same is gonna happen with Snek. Let’s see some SNEK Token details.
Token Name | $SNEK |
Release Date | 22/05/2023 |
Total No. of Issues | 75.61 Billion |
Issue Price | $0.00039508 |
Current Supply | 73.24 Billion |
All-Time High | $0.0024505 |
All Time Low | $0.00013847 |
Allocation Details:
% | Category | Description |
50 | Presale holders | 50% of the token supply is being distributed to presale participants. The presale was open to public crypto enthusiasts with no prior qualifications. This will be based on a snapshot of funds sent and airdropped via a third-party distribution service. SNEK’s early contributors did not benefit at all from this sale. |
40% | Initial liquidity | 40% of the token supply has been allocated towards initial liquidity distribution, this is now used in SundaeSwap and Minswap. LP tokens are being stored in a multi-sig wallet for safety. |
2% | Marketing | 2% of the token supply is being used for marketing promotions, community airdrops, contests, events, further giveaways, and incentives for promoting the SNEK. 1% was distributed within the first month. |
5% | Utility | 5% of the token supply is being used towards the SNEK ecosystem, DeFi applications, partnerships, and project developments. |
3% | Reserve | 3% of the token supply is reserved for exchange listings, additional liquidity, and expansion opportunities. |
Future Price Prediction of SNEK ($SNEK): 2024-2030
The price of Snek at the moment is $0.0009708. Based on Snek’s current engagement, its behavior from 2023 to 2024, and the Bitcoin halving date, we made a future price podcast. Please note that the numbers may change, and pumps and dumps may happen throughout the journey, just like the fate of all meme coins, but if you are looking for long-term steady growth, this may help you.
Year | Low Price | Average Price | High Price |
---|---|---|---|
2024 | $0.0007678 | $0.0009560 | $0.002476 |
2025 | $0.0009066 | $0.001496 | $0.003237 |
2026 | $0.001451 | $0.002262 | $0.003857 |
2027 | $0.002108 | $0.003248 | $0.004508 |
2028 | $0.002764 | $0.003929 | $0.005257 |
2029 | $0.003420 | $0.003693 | $0.005717 |
2030 | $0.003380 | $0.004249 | $0.006337 |
Where to Buy SNEK?
Snek is available in popular exchanges like Gate.io, MEXC, Bitget, CoinEx, and Minswap.
Is SNEK a Credible Investment Option?
As I said earlier, there is no guarantee here. The Snek is largely backed by the community. You can join Snek communities to get an overall picture of the scenario. But I suggest you buy a minimum amount of Snek so you won’t get any FOMO. This is the perfect time to buy.
Snek has formed a steady wave pattern in 1-day charts. We can see that a strong sale happened past month. Our analysis shows that it is time for an upward trend, to follow the wave pattern. It might be your perfect time to buy.
Maybe it will get into an Elliott Wave Pattern in the coming days. You can either sell when the wave collapses, for a short-term return, or you can hold for the long term, according to the price predictions above. But beware that anything can happen with Snek.
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