XMEME, a burgeoning memecoin project running on the XRP Ledger (XRPL), has experienced a remarkable surge following its buyback and subsequent burn of a significant portion of its supply.
The project, as per an update from its official X handle, executed a buyback totaling 44.2 million XMEME, equivalent to approximately 4,000 XRP during the burn. This move aimed to reduce the circulating supply, aligning with XMEME’s intentions to deflate its token supply. Presently, the project boasts a total supply of 34.24 billion coins, a relatively fair amount compared to other memecoins in the market.
XMEME’s Price Rally and Momentum XMEME, being a relatively new token with a growing community and ecosystem, has seen a remarkable surge, hitting its All-Time High (ATH). According to Magnetic DEX data, XMEME is priced at 0.0002882 XRP or $0.0001825, translating the value of the burnt 44.2 million XMEME tokens to 12,738 XRP.
The token experienced a striking 15x growth after surpassing the $0.0001 resistance level, showing a remarkable 1,044% increase over the past week. While this growth is substantial, XMEME aspires for a 1000x increase in the near future, though achieving this remains uncertain.
XMEME’s Journey and Potential XMEME holds a lead as one of the initial meme coins on the XRPL, with positive sentiment and a potential first-mover advantage guiding its future goals. Notably, key influencers in the XRP ecosystem are acknowledging XMEME, further boosting its visibility. While it may not yet rival established meme coins like Floki or Shiba Inu (SHIB), its current performance marks a promising beginning.
Furthermore, XMEME has risen to the third position as the most traded coin on XRPL.to, signaling its growing popularity within the network.
Anticipated Utilities and Growth While XMEME began as a playful token, its roadmap includes expansion plans. The team is hinting at an imminent launch of a Non-Fungible Token (NFT) collection, adding another layer of utility.
The token’s anticipation and potential are escalating, especially with its position as the second-largest token by trading volume on the XRP Ledger according to xrpl.to.
