Instructions for creating your own meme cryptocurrency published

After meme coins once again caught a wave of popularity, a viral video appeared on Twitter showing how easy it is for anyone to create a new meme cryptocurrency from scratch. Digital artist Johnny Shankman demonstrated how to create a new EASY_MONEY token in just 27 seconds. A day later, the record was broken, as the time was reduced to 22.45 seconds.

memecoin deploy% speedrun 27s ⏱️ pic.twitter.com/OYaXGb5ITR

— whitelights. eth ⌖ (??) (@iamwhitelights) May 5, 2023

In the video, Schenkman shows how any user can quickly create a new token using the Contracts Wizard program. The service allows users to choose a number of potential functions for their token.

After creating a cryptocurrency ticker, Schenkman used the Remix app, which compiles the token’s smart contract and deploys it on a given blockchain network. In the video, Schenkman chooses to deploy his EASY_MONEY (EZ) token on the Ethereum test network.

The enthusiast notes that the instruction was created «for educational purposes only.»

⚠️ for educational purposes only
⚠️ this was deployed on testnet
⚠️ be smart out there

— whitelights. eth ⌖ (??) (@iamwhitelights) May 6, 2023

Yesterday, on May 8, it became known that the rate of another hype meme token PEPE collapsed by 20.7%. The fall occurred a few days after the coin’s rate increased by 91.3% and its capitalization exceeded $ 1 billion. Meme-coin is considered a risky digital asset, investments in which can lead to a loss of funds.

At the time of writing, PEPE is trading for $ 0.18 with a market capitalization of $ 710,971,836. According to CoinMapketCap, the token has dropped another 23.64% in the past 24 hours.