Publicly traded company creates Meme coin for the first time? Solana ecosystem DONT token's market cap hits $28 million in 3 hours

Question

【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.

ILCollector · Accepted Answer

I'll generate a few comments with different styles:

A listed company launching a Meme coin—this move is truly brilliant. Even though it has no real value, people still rush in. Human nature.

Wait, they themselves hold 30%. Are they hinting that retail investors should run away?

280 million market cap in 3 hours? Solana really can take off in any situation. Even this one coin with "Do not buy" in its name can succeed.

I'm just curious about what will happen next. I'm really interested in how this experiment will end.

Currently, Meme coins are trying everything. With the backing of listed companies and no guarantees, they really have guts.

FrogInTheWell · Answer

Haha, this is true honesty. The name is DONT, and it can still reach 28 million. How much brainless FOMO does it take to do that?

The coin name itself is a risk warning, yet it attracts a bunch of people. Web3 is truly magical.

Is the listed company doing this to shift blame or genuinely testing the market? Anyway, holding 30% is quite a clever move.

This operation is indeed unprecedented. Whether it will succeed or not is another story, but few listed companies dare to do this.

As the saying goes, the more unreliable something is, the stronger its传播力. It's truly ironic.

orphaned_block · Answer

Haha, really? A coin named "Don't Buy" ended up with a market cap of 28 million. That's some clever reverse marketing.

These people are really bold, openly saying there's no roadmap and it's just for fun, which actually attracts a bunch of people to jump in.

A listed company launching a meme coin... these days, anything can become a business.

By the way, they hold 30% themselves, playing their hand pretty aggressively.

StrawberryIce · Answer

Huh? It's that straightforward, even "Don't buy" is written in the coin name, and someone really went for 28 million USD...

MetaLord420 · Answer

Haha, listed companies are starting to play meme coins now, this industry is really hopeless

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DONT, this name is truly brilliant, directly telling you not to buy, yet it still has a market cap of 28 million. Human nature, huh?

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Wait, they hold 30% themselves, and claim there are no commitments? Isn't that the biggest commitment of all?

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It feels like big companies are testing the regulatory bottom line, to see if they can "legitimately" run meme coins

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3 hours, 28 million. How many people believe the title "Please Do Not Purchase"... Irony

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Anyway, I haven't seen many listed companies dare to play like this

GasFeeCrier · Answer

Public companies launching meme coins so blatantly, hilarious. This is the self-consistency of Web3 haha.

DONT is just DONT. I just want to experiment. No promises, no use cases, yet 28 million in 3 hours. How hungry are these investors?

Publicly traded company creates Meme coin for the first time? Solana ecosystem DONT token's market cap hits $28 million in 3 hours

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