UPDATE: MakeNowMeme’s X account briefly suspended, now back online
Quick Take
- The memecoin launch service said it is working to restore the suspended account.
Social media platform X has suspended an account titled MakeNowMeme, which allowed users to launch their own Solana-based memecoins from just posting a tweet on the platform. X noted on the account page that the platform suspends accounts in violation with its rules.
“The @makenowmeme X account was suspended, and we're looking into restoring it. Minting will be paused for now,” MakeNowMeme’s official website said, adding that it will provide an update on its webpage with a new solution.
MakeNowMeme let X users launch their own memecoins by posting a tweet in a certain format that begins with a dollar-sign and ticker name, followed by the name of the token and its description, optional image or video. Users needed to tag the now-suspended X handle to launch the memecoin.
Like the preceding and highly successful memecoin platform Pump.fun, when enough users buy a new MakeNowMeme token, its liquidity is posted onto the decentralized exchange Raydium before getting burned.
Alex Svanevik, CEO of the onchain analytics platform Nansen, launched a new token earlier this week using MakeNowMeme. Svanevik wrote on X that he was testing out “some tech a friend built” and told followers not to “ape” his token.
The Nansen CEO’s memecoin, IQ, reached over $9 million in market capitalization on July 31, according to Dexscreener. The token’s market cap, however, quickly fell to its current level of around $300,000.
The memecoin fever across multiple platforms has contributed to the surge of activity seen in Solana over the past months. July’s volume of transactions on Solana hit a high of 1.31 billion, while the number of active addresses hit above 54 million, according to The Block’s data dashboard.
UPDATE: MakeNowMeme's X handle is no longer suspended, account says minting and replies are back live.
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