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Publicly traded company creates Meme coin for the first time? Solana ecosystem DONT token's market cap hits $28 million in 3 hours
【Blockchain Rhythm】Something interesting is coming. Solana Treasury’s DeFi Development recently made a move—launching a Meme coin called DONT (DisclaimerCoin), claiming to be the first Meme coin in history led by a publicly listed company.
This project is a bit special. DeFi Development openly stated in their announcement: DONT has no backing from external influencers, KOLs, foundations, or VCs, and there is no roadmap, advisory team, or practical use case, nor any promises. Simply put, this is an experiment conducted by the company itself to see what happens. However, the company plans to hold 30% of the total supply of DONT long-term.
In terms of market performance, DONT’s market cap surged to $28 million within 3 hours of launch, now stabilizing around $18 million, with a trading volume of $23 million. This upward trend has indeed attracted quite a bit of attention.
However, it is important to note that most Meme coins lack practical application scenarios, experience extreme price volatility, and carry significant risks. Be sure to do your homework and make rational judgments before participating in such projects.