In the midst of the ongoing crypto bull run, a new memecoin has emerged, taking inspiration from an unlikely source – the US dollar. DOLLUR, launched on Coinbase’s Base network, has shot up an astonishing 10,000% soon after its debut.
Memecoins have been making significant gains during this bull run, and DOLLUR is no exception. Inspired by the Greenback, this memecoin promises to be the reserve currency of the Base network ‘wif no inflashun.’
According to an anonymous DOLLUR developer, the motivation behind creating DOLLUR was to demonstrate that even a memecoin could be better designed from a tokenomics perspective than the US dollar. ‘When you examine USD, you find that it’s quite poorly designed from a tokenmonics perspective,’ the developer said. ‘There are $2.7 trillion US dollars in circulation with an infinite potential supply, and the top 1% hold the vast majority of them via dollar-denominated assets. Our motivation in creating DOLLUR was to show that even a memecoin could be better designed.’
Political memes have had a stellar run this year, with Jeo Boden and Doland Tremp peaking with 100,000% gains. As stated on the DOLLUR website, ‘DOLLUR go brrr,’ resonating with the concerns of the day through humor and satire.
While some traders view these coins as fun games to throw money into, professional traders are incorporating them into their risk-adjusted portfolios. At the Digital Asset Summit in London in March, Avi Felman, Principal and Head of Digital Assets Trading at GoldenTree Asset Management, stated, ‘The optimal [crypto] portfolio is a barbell Bitcoin/memecoin portfolio, which is 85% Bitcoin and 15% memecoins.’
After experiencing intense sell pressure following its phenomenal rise, DOLLUR currently sits 160% up from its first day price and is growing rapidly. ‘We’re seeing a steady increase in community members and people joining in on the joke,’ said the DOLLUR developer. ‘We’re currently implementing a roadmap to take DOLLUR to one dollar.’ DOLLUR is currently trading at $0.0007.
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