Social media platform X has suspended an account called MakeNowMeme, which allowed users to launch their own Solana-based memecoin simply by posting tweets on the platform. On the account page, X noted that the platform suspends accounts that violate its rules.
“@makenowmeme X account has been suspended and is under review for recovery. Mining is currently suspended.” MakeNowMeme official website saidHe added that he will also provide webpage updates with new solutions.
MakeNowMeme required X users to launch their own MemeCoins by posting a tweet in a specific format that started with a dollar sign and the ticker name, followed by the token name and description, and an optional image or video. Users had to tag the now-defunct X handle in order to launch their MemeCoins.
Similar to the previously successful MemeCoin platform Pump.fun, once enough users purchase the new MakeNowMeme tokens, the liquidity of those tokens will be posted to the decentralized exchange Raydium before being burned.
Alex Svanevik, CEO of on-chain analytics platform Nansen, launched a new token using MakeNowMeme earlier this week. Svanevik I wrote to X He said he was testing out “a technology created by a friend” and told his followers not to “copycat” his tokens.
Nansen CEO’s mimecoin, IQ, reportedly surpassed $9 million in market capitalization on July 31. DexscreenerHowever, the token’s market cap quickly fell to its current level of $300,000.
Solana has seen a surge of activity over the past few months as memecoin hype has taken hold across multiple platforms. In July, Solana’s transaction volume hit a record high of 1.31 billion, with over 54 million active addresses. Data Dashboard for Blocks.
UPDATE: MakeNowMeme’s X handle is no longer suspended, the account is mining again and replies are re-enabled.
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