Meme Coin Craze in Crypto Markets

The crypto market has recently seen a surge in meme coins, especially those built on the Solana network. According to Webtekno’s Eray Kalelioğlu, IMARO, a meme coin created by a Turkish group, has quickly reached a volume of millions of dollars.

Origin of the Name “IMARO”

In a street interview before the local elections, a citizen was asked who he supported. He mispronounced “Ekrem İmamoğlu” as “Ekrem İmaro,” which went viral on social media. The IMARO meme coin was created by a team inspired by this viral event.

Who Launched It?

Metin Redjepi and his team are behind the rapid rise of IMARO. Redjepi is the founder of DLive, the world’s first blockchain-based live streaming platform launched in 2017. Redjepi says they took advantage of the natural “hype” surrounding the election process in Turkey when launching this meme coin.

20-Fold Increase in Value

According to Bireye data, the meme coin, which uses this image as its icon, was launched on March 31st. It was trading at $0.00006 when it first hit the market.

IMARO, which has gained more than 20 times its value in just a few days, is currently trading at $0.0012.

Metin Redjepi recently announced that the total volume on IMARO has exceeded $1.5 million.

CEHAPE and MANSUR Coins Launched

Following the rise of IMARO, developers looking to capitalize on this hype launched CEHAPE and MANSUR coins. The highly volatile CEHAPE coin quickly increased its value by almost 100X, but its decline was just as rapid. CEHAPE’s value crashed by 95% from its peak on Wednesday, April 3rd.

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