Meme Account That Generates Copycat Coins Faces Suspension

IconCryptoNewsTerminal Staff02 Aug, 2024

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Meme Account That Generates Copycat Coins Faces Suspension

MakeNowMeme, an account that allowed users to create meme coins by simply posting a dollar sign, a ticker, the token's full name, a description, and an image, has been suspended. Alex Svanevik, CEO of crypto data analytics firm Nansen, revealed that he used MakeNowMeme to issue a meme coin for testing purposes. The suspension was reportedly due to a violation of the account's terms of service, but no specific reasons were given. This news follows a recent trend of meme coins losing value and failing to gain traction.