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International Business Times
International Business Times
Business
Marvie Basilan

New $IQ Memecoin Hits $5M Market Cap In 1 Day, Plunges Amid 'Shilling' Allegations

Memecoin Solana Crypto Nansen
A new Solana memecoin pumped to $5 million within a day of launch, but some crypto users are accusing the token's creator of "shilling." (Credit: Bybit/flickr.com)

KEY POINTS

  • Svanevik said he was testing makenowmeme, but warned investors not to 'ape' the token
  • $IQ hit a $5 million market cap within a day of launch before plunging to $1 million
  • Some crypto users said Svanevik was 'shilling' the token

A new Solana blockchain-based memecoin is getting a lot of interest in the cryptocurrency community after the token hit a $5 million market cap within just a day of its launch.

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