Memeland will soon distribute mining rewards, and there is a large number of small MEME buy orders on the chain

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2024/01/12 10:19

According to on-chain analyst @ai_9684xtpa, Memeland announced that it will soon distribute mining rewards and requires each address to hold at least 69 MEME tokens to enhance fairness.

As a result of this news, there has been a large number of small buy orders for MEME on the chain, with most quantities ranging from 70-80 tokens (about $2); currently, there are 74,589 holding addresses for MEME. Assuming that all 4 million participating addresses will acquire the required 69 tokens, there will be a need to transfer or purchase a total of 270 million MEME within seven days, valued at $7.49 million.

Observing the on-chain data reveals that some addresses have already started distributing MEME tokens in bulk. For example, address 0xDb9...45616 spent 0.4 ETH in transaction fees three hours ago to distribute 69 thousand MEME tokens among 1000 addresses at an approximate cost of $3 per address.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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