Cryptocurrency markets continue to surprise investors with new peculiarities every day. A new craze has emerged recently. Popular accounts have started a “fund me and I’ll send you tokens” narrative, fueled by social media. Even though Kero is the most prominent account to make noise with this idea, the concept is quite absurd, and for investors, participating in this craze is no different than walking through a minefield.
Kero and SNAP Coin
Cryptocurrencies are mostly speculative, and we see that even the most useless tokens can make massive gains if they catch a strong hype wave on social media. These days, many new meme coins on the Solana network, which should be valued at zero, are showing extreme volatility due to the interest of crypto gamblers.
Kero, known as an NFT artist/designer, raised over $10 million in one day for a presale of a Solana-based memecoin. He did it just as we mentioned earlier. Yes, he simply said, “fund me and I’ll mint and send you tokens.” Being a well-known NFT artist, his widely shared Tweet quickly led to a massive amount of money flowing into his wallet.
Subsequently, many accounts took advantage of the situation, saying, “What’s the big deal about minting tokens? Send me money, and I’ll create a better meme coin.” It’s really absurd; why would people send money to someone learning how to mint tokens from YouTube videos? Although Kero did something original and garnered interest, investors should be cautious due to the potential for this to turn into a trend of opportunism.
SNAP Coin
Kero is known for his previous NFT projects, but he cannot be considered entirely trustworthy, and there is no guarantee that investors will get their money’s worth. At the time of writing, we see accounts announcing they received $17,000 worth of tokens for 100 SOL, but the token is still very new, and it’s hard to talk about the price without sufficient liquidity.
So where did SNAP Coin come from? In short, a few days ago, Kero published a survey. He talked about the idea of a Solana-based meme coin. Then, seeing the community’s interest, he started the presale of SNAP, a token inspired by the meme character, crocodile Coco.
Coco, drawn in a style reminiscent of PEPE, seems like an original attempt. Kero’s transition from NFT artist to token issuer through an interesting funding experiment could represent a fascinating convergence of art, technology, and finance. Or Kero could scam everyone, and those who sent SOL Coin to his wallet might swear never to tell anyone as long as they live.
While some addresses report receiving SNAP Coins in their wallets, scammers are trying to prey on participants with fake tokens, fake accounts, and private messages over platform X. If you’ve sent SOL Coin to Kero, make sure to check whether the contract address of the received token matches the one shared in the account.
