Charles Hoskinson Shills Pig-Inspired Meme Coin Toward $1 Million Market Cap

Cardano founder Charles Hoskinson is again on the newswires, shilling a new pig-themed meme coin.

It comes only days after his public address about an upcoming Cardano upgrade, advertised as the network’s biggest milestone

Cardano Exec Charles Hoskinson Hawks Nike Meme Coin

Charles Hoskinson, the well-known Cardano executive, is promoting the Nike meme coin on his social media platforms. The new pig-themed token’s market capitalization has surged past $708,000 as of press time.

“I’m at a loss that a picture of my pig has resulted in a memecoin that is nearly at a million dollars in under 12 hours,” Hoskinson indicated.

It comes barely a day since the Cardano executive shared a picture of his “pig named Nike” in a post on X. The image sparked the creation of the meme coin, which quickly gained traction.

Read More: 7 Hot Meme Coins and Altcoins that are Trending in 2024

Nike Token Data. Source: TapTools

The fully diluted valuation (FDV) was $172,000 just 12 hours ago, according to a remark by Hoskinson in a post. Within this timeframe, Nike FDV has increased by 312%, with prospects for more gains. Meanwhile, it is worth noting that the Cardano ecosystem remains on the crypto community’s watchlist ahead of Chang Fork.

The Hoskinson-linked Nike meme coin adds to the narrative where sector tokens remain on the headlines. The market has seen controversies around Iggy Azalea’s MOTHER token and, more recently, DADDY, linked to former kickboxer Andrew Tate. Amid the flurry, a user on X had questioned the sector’s usefulness beyond entertainment and monetizing attention.

Read more: Which Are the Best Altcoins To Invest in June 2024?

Despite differing opinions, Ethereum co-founder Vitalik Buterin recently engaged with the celebrity meme coin trend. He disapproved of the “financialization as a final product” premise driving many meme tokens.

“I’m feeling quite unhappy about with ‘this cycle’s celebrity experimentation,’ so far,” he noted. “‘Financialization as a means toward an end’ I can respect if the end is worthy — healthcare, open source software, art, etc.”