{"id":5009,"date":"2025-01-02T03:18:38","date_gmt":"2025-01-02T03:18:38","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=5009"},"modified":"2025-01-02T03:18:38","modified_gmt":"2025-01-02T03:18:38","slug":"memecoin-degens-raise-millions-for-rare-cancer-research-after-a-fathers-plea","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=5009","title":{"rendered":"Memecoin Degens Raise Millions for Rare Cancer Research After a Father\u2019s Plea"},"content":{"rendered":"
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A Pump.Fun memecoin zoomed from zero to an $80 million market capitalization on Thursday after a father\u2019s plea for donations to a research study for his daughter\u2019s rare brain cancer attracted swathes of crypto traders.<\/p>\n

The MIRA token\u2019s price has fallen 80% from a Thursday peak and trades at just over a cent as of Friday. But while late buyers are sitting on losses, the effort raised over $1 million<\/a> for the cause.<\/p>\n

In an X post on Thursday, Siqi Chen, founder of the Runway corporate finance planning application, said his daughter Mira was diagnosed with a type of brain tumor in September and that research and funding had \u201cbeen lacking\u201d because of the rarity of the condition.<\/p>\n

His GoFundMe page has raised 80% of its $300,000 target<\/a> as of Thursday, with all proceeds going directly to research efforts at the Hankinson Lab at the Univerity of Colorado.<\/p>\n

Chen also posted his Ethereum wallet on the X thread, responding to user demand, adding his Solana and Bitcoin addresses when users asked for more options.<\/p>\n

Then Pump.fun happened.<\/p>\n

The Pump.fun platform lets anyone issue a token for less than $2 in capital, after which they choose the number of tokens, theme, and meme picture to accompany it. When the market capitalization of any token reaches $69,000, a portion of liquidity is deposited to the Solana-based exchange Raydium and burned.<\/p>\n<\/p>\n

\"\"<\/p>\n

A Pump.fun user created the MIRA token<\/a> attached to a picture of Chen and his daughter, with no apparent objective except it being a token that can be traded like any other memecoin. The user\u2019s profile<\/a> shows MIRA was just one of the several tokens they created that day, with none of the others breaking a $6,000 market cap.<\/p>\n

From there, though, things started to take off. X user @Waddles_eth bought 50% of the supply and sent all of it to Chen. Chen then boosted the memecoin on his X account.<\/p>\n

That ensured virality for the token, sending the price from fractions of a penny to a peak of 8 cents early Thursday. The value of Chen\u2019s token holdings soared from $400,000 to over $18 million. MIRA attracted a peak of $7 million in liquidity (in terms of both Solana\u2019s SOL and the memecoin) as it became widely traded.<\/p>\n

Trading volume topped $85 million in more than 130,000 transactions, making it the most popular smallcap in the past 24 hours.<\/p>\n

\u201cI have been on the internet for 30 years and have seen some shit, but this is by far the craziest day of my life,\u201d Chen wrote on X as prices rocketed. \u201cI will be liquidating $1,000 worth of $MIRA every 10 minutes, perpetually. If change this schedule, i commit to announcing it 24 hours in advance.\u201d<\/p>\n

\u201cIf you want to rug it to $0, go for it – at the end of the day we set out to raise $200K and we will end up with at least $1M towards rare disease research,\u201d he wrote.<\/p>\n

Community response<\/a> to the event has been overwhelmingly positive, with several users pointing out how such memecoins can contribute to positive outcomes in the world.<\/p>\n

Memecoins are largely based on virality, attention and hype. They are considered non-serious among professional investors, but have seen massive demand and preference in the past year compared with larger venture capital-backed crypto tokens \u2014 which are perceived as enriching already-rich investors at the expense of smaller retail traders.<\/p>\n

MIRA has helped shift the conversation.<\/p>\n

\u201cI think memecoins are dumb and have no future and I don’t touch them. But if I wanted to make a case for them I would now know where to start,\u201d X user @JaEsf said. \u201cThis is beautiful and quite crazy that you can do that with crypto. EVM, Solana or any chain. This is why Crypto exist! Simplify movement of assets,\u201d said @mbaril010, another X user.<\/p>\n

Meanwhile, @waddles_eth, the user who originally sent half the token\u2019s supply to Chen, said the overall outcome met their expectations.<\/p>\n

\u201cWhen I saw the story about Mira and her illness, I thought it would be good to buy and send supply to you with the hopes of getting the SOL community behind a good cause on Christmas,\u201d they said in a now-viral X post. \u201cI’m really glad that it worked out the way that it has and I hope that the money helps to find a cure both for Mira and anyone else with her condition.\u201d<\/p>\n

Crypto for good may finally become a thing in the new year.<\/p>\n

CORRECTION (Dec. 27, 09:06 UTC): Corrects name of Chen’s company to Runway. An earlier version of this story called it Runaway.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

A Pump.Fun memecoin zoomed from zero to an $80 million market capitalization on Thursday after a father\u2019s plea for donations to a research study for his daughter\u2019s rare brain cancer attracted swathes of crypto traders. The MIRA token\u2019s price has fallen 80% from a Thursday peak and trades at just over a cent as of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-5009","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/5009","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5009"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/5009\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}