Polkadot community set to launch first meme coin DED on the network

4 January 2024

in DOT

Reading Time: 2 mins read

The final quarter of 2023 led to a major crypto market rally that sent numerous cryptocurrencies, major – like Bitcoin (BTC) and Ethereum (ETH) – and altcoins and meme coins surging.

So far, Bonk (BONK) – a meme coin based on the Solana (SOL) blockchain – has perhaps been the biggest winner, surging more than 10,000% in just over a year. Pepe (PEPE), a cryptocurrency launched in the spring of 2023, also left its mark as it enabled at least one trader to turn several hundreds of dollars into more than a million.

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The current thawing in the market is now set to bring about the launch of a brand new meme coin – DED. The new meme coin is currently in the works on the Polkadot (DOT) blockchain.

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DED is being developed by a dedicated group, per the latest information shared with Finbold on January 4, and, according to several polls conducted on X, it already has extensive community support.

How will the DED launch work?

Giotto De Filippi, a DOT Activist, and $DED coin enthusiast, stated that the new meme coin showcases the strength and commitment of the Polkadot community and praised the transparent and decentralized way in which it is being built:

“The $DED coin is really a testament to the strength of the Polkadot community. The dedicated Polkadot community have built this from the ground up in a completely permissionless, decentralized, and transparent way while bringing back the fun and whimsy that made many meme coins successful in their own right.”

The team building DED announced that it is basing its work on input from the Polkadot community. It also promised that there would be no presale or team allocation but that all holders of DOT – the blockchain’s native cryptocurrency – would receive the new meme coin via an airdrop.

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