Polkadot Upcoming Memecoin $DED Gets Support From The Community

Polkadot Upcoming Memecoin $DED Gets Support From The Community

Time Stamp: December 29, 2023 11:57 AM
Source Node: 2419263

With the next bull market on the horizon and activity returning to the crypto markets, memecoins show no signs of slowing down. In a recent trend on X, a grassroots development of a new memecoin on Polkadot, called $DED, burst onto the scene. The team behind the new token aims to drive further adoption in Polkadot through community engagement. Now, just days later, a wave of support is confirming their strategy may be working.

Within 7 days of announcing $DED, the project’s Telegram group (https://t.me/dedbird) grew from 0 to over 4,000 members and continues. The trend and rise of this new community was also picked up by a recent article published on Blockchain Reporter. This organic growth mirrors the rise that took Dogecoin and Shiba Inu to fame.

The team credits their plan to fairly distribute $DED tokens through free airdrops as the cause of the organic community support. The airdrops target $DOT holders, incentivizing them to participate, and the linear distribution model gives a fixed percentage allocation for all eligible users. Avoiding VCs and investors supports a wider community reach and upward pressure. Since buyers feel invested in the token’s success, they actively spread interest.

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Leading Polkadot Wallets Announce $DED Support

Beyond grassroots hype, $DED has now received backing from key Polkadot players. Top DEXs and wallets supporting $DOT, including Nova Wallet, Stella Swap, Talisman, and SubWallet have all announced intentions to support $DED.

Nova Wallet offers mobile access to top Polkadot ecosystems. Supporting $DED gives the token wide exposure to Nova’s large user base.

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Stella Swap is a leading DEX on Moonbeam, one of $DED’s launch parachains. Integrating $DED would allow smooth swapping.

Talisman, which focuses on user experience and ease, can spur seamless $DED adoption by less technical users.

This third-party infrastructure support demonstrates $DED’s credibility despite its memecoin label. Major industry players deem it worth integrating even pre-launch. Their stamp of approval reinforces community excitement.

Grassroots Momentum Building

The $DED community, who are taking an active role in the project’s creation, is continuing to leverage Polkadot’s strong rise for organic growth. Before even the official launch, their fully community-driven tactics are sparking intrigue and engagement.

A fair, linear token distribution plan incentivizes users to participate for tokens based on their holdings of $DOT. Funny memes and inside jokes celebrating $DED tap Polkadot’s grassroots culture. As momentum grows, the community essentially markets and grows the project itself.

Now with the growth the Telegram community has seen and the major wallet and dApp projects supporting $DED’s infrastructure, the community has the tools needed to spread adoption. The community compares it to pouring gasoline on an already glowing ember.

Of course, a token’s success ultimately depends on trading activity regardless of hype. But $DED’s organic approach is checking all the right boxes so far for community ownership. It took years for Dogecoin to gain its eventual fame – $DED seems set to make that timeline significantly shorter.

The Polkadot ecosystem provides the perfect place for a memecoin to thrive. As $DED leverages this built-in audience and support for its fair launch, the crypto world should ready itself for this Web3 community’s playful disruption. The fire is catching as developers and investors alike keep watch for $DED’s full launch. As such, we will continue to monitor developments.

To keep up with all things related to $DED, join their community Telegram channel (https://t.me/dedbird) 

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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