Bakery Swap Secured $280 Million in Cryptocurrency via Big Pump Meme Coin Presale

A platform that combines decentralized trading with non-fungible tokens (NFTs) Bakery Swap (BAKE) has officially wrapped up the token presale for the Big Pump (PUMP) meme project, achieving record-breaking participation of over $280 million.

The Big Pump memecoin, which operates on the Binance Chain (BNB), boasts a vast total supply of 4.4 trillion tokens, reflecting the hope of crypto investors for substantial asset value growth.

In an update shared by Bakery Swap on social media platform X, the current fundraising figures include about 363,000 BNB, 9 million CAKE, 24 million BAKE, 1.5 billion 1CAT, and 7.3 billion IQ50, with refunds for any contributions set to be processed within 48 hours.

🎉 $PUMP Presale Complete Successfully! 🎉

We set a new record with participation exceeding $280 Million, marking a historic achievement. #memecoin presale ever! 🚀

🔥 363K $BNB , 9M $CAKE , 24M $BAKE , 1.5B #1CAT , and 73B uk

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Airdrops Calendar Hot Projects The value of Bitcoin has seen an uptick of nearly 2% in the last 24 hours, reaching $566 at the time of this report. This follows a powerful trend that has seen its value rise over 48% in the past month, as per CoinMarketCap data.

Memecoin Value Surge Yielding Mixed Outcomes

Recently, memecoins have seen a significant rise in value, exacerbated by the existing volatility within the wider cryptocurrency market. Additionally, the surge in memecoin transactions has driven up blockchain fees and increased on-chain transaction activity.

A recent presale for a project called 'are you stupid' successfully garnered 420.69 Solana (SOL), equivalent to $83,717, from a single transaction on March 18. Participants were allowed a 48-hour window, starting March 16, to transfer funds to the wallet address `areyoustupid.sol`.

Another memecoin on the Solana network, humorously named 'Slerf', has surpassed a market cap of $234,800,000 and is supported by 74,075 holders, as tracked by Solscan. However, the Slerf team is currently managing funds on behalf of presale investors. Metaverse Post After a blockchain revival, the SOL token has nearly bounced back to its peak values from 2020. Furthermore, the Solana blockchain has gained popularity as a platform for meme coins like (WIF), Bonk (BONK), and Book of Meme (BOME), which derive their value largely from the hype they create online.

News News Report Nonetheless, some analysts caution that memecoins could pose challenges for the cryptocurrency landscape. Ki Young Ju, CEO of CryptoQuant, a data analytics firm focused on on-chain and market trends, expressed his concerns regarding the rise of memecoins. He stated, 'Many view memecoins as a kind of global lottery that draws new users into cryptocurrency.' He added, 'It is disheartening to witness billion-dollar memecoins overshadow dedicated teams that are striving to develop valuable contributions to this sector. Quick profits won’t foster sustainable progress, as evidenced by the fallout from the 2018 ICO market crash.' Metaverse Post Please remember that the information on this page is not intended to serve as legal, tax, investment, financial, or any other kind of advice. It’s crucial to invest only what you can afford to lose and to seek independent financial counsel if you have any uncertainties. For further details, we recommend consulting the terms and conditions as well as the support pages provided by the issuer or advertiser. MetaversePost is dedicated to providing accurate and impartial reporting, but be aware that market conditions can change without prior notice.

Alisa is a passionate journalist at Cryptocurrencylistings, specializing in cryptocurrency, zero-knowledge proofs, investment strategies, and the ever-expanding domain of Web3. With a sharp focus on emerging trends and innovations, she offers thorough insights to keep her readers informed and engaged in the fast-paced world of digital finance.