The memecoin frenzy continues as @LordCheems_bsc ($CHEEMS) sees an extraordinary 5450% increase in just 30 days.
Following a recent burn of $3.7 million worth of tokens, the Cheems token surged to a new all-time high (ATH) today, reaching $0.00000042. This sharp rise has boosted its market cap to $74.5 million, as the BNB Chain-based token gains momentum.
The BNB Chain memecoin, Cheems( $CHEEMS), continued its rise today with a 50% increase, bringing its market cap to $74.5 million.
On Sep. 28, Cheems announced its migration from the #zkSync chain to #BNBChain, and since then, $CHEEMS has surged nearly 1000%. Additionally,… pic.twitter.com/ScZ7TbFPxj
— Followin (@followin_io) October 17, 2024
Cheems’ price spike can be attributed to its recent migration from the zkSync chain to the BNB Chain. Since the announcement on September 28, $CHEEMS has soared nearly 1000%.
A community vote led to the burning of 16.1 trillion $CHEEMS, worth $3.7 million, which represented 7.33% of the total supply that hadn’t been migrated.
Additionally, the Cheems team burned all official liquidity pool (LP) tokens, valued at $3.6 million, and relinquished ownership of the liquidity pool, further increasing investor confidence and contributing to the token’s meteoric rise.
5450% up in just 30 days
@LordCheems_bsc, a memecoin that recently burned $3.7 million worth of its tokens, is going bonkers.#CHEEMS token made a new ATH today
How many of you have heard about $CHEEMS? pic.twitter.com/HO4LODCMa4
— Wise Advice (@wiseadvicesumit) October 17, 2024
One Of The Most Active CHEEMS Wallet Continue Increasing Holdings
One of the most active whales in the Cheems ecosystem, Christian2022.eth, has continued to increase his holdings. In the past seven hours alone, he spent 208 BNB (around $124,000) to acquire 490.45 billion $CHEEMS tokens. This brings his total Cheems holdings to 8.19 trillion tokens, worth approximately $2.73 million.
The price of $CHEEMS increased by ~70% after #Cheems burned $3.6M worth of LP tokens.
Whale Christian2022.eth(@Christianeth) spent another 208 $BNB($124K) to buy 490.45B $CHEEMS in the past 7 hours.
Christian2022.eth currently holds 8.19T $CHEEMS($2.73M).… pic.twitter.com/QIIO96Z0zV
— Lookonchain (@lookonchain) October 16, 2024
The combination of strategic burns, migration to a more robust chain, and strong community support has fueled $CHEEMS’ rapid growth. With whale investors like Christian2022.eth pouring significant funds into the token, Cheems is proving to be a formidable player in the memecoin market, and its future prospects appear bright as it continues its impressive upward trajectory.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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