Polkadot-backed community cryptocurrency $DED is back on the X trending charts, following the launch of its airdrop on March 23. The coin made airwaves as the memecoin mania gained steam across the crypto space, with the community showing massive support for the memecoin and conviction of its value once it fully launches.
For the past 48 hours, $DED has made it to X’s trending charts, becoming the latest ecosystem coin to make itself heard on the social platform. As one of the most-anticipated airdrops of the year, the coin has sparked newfound excitement across the crypto space – seeing over 23,000 members join the $DED Telegram channel ahead of its airdrop launch.
Since its announcement last year, crypto fanatics and Polkadot holders have eagerly awaited the launch of $DED. The token aims to revive the excitement on the Polkadot blockchain, following the chain’s recent collapse asTVL on DeFi projects dwindled in the past two years. Under the catchphrase “Polkadot is $DED” the project has sparked renewed interest in Polkadot and brought back massive support to the $DOT token.
DOT is $DED was initiated by the community to create the first memecoin on Polkadot. The community felt that if they worked together they could bring excitement which would bring a larger community to Polkadot.
Crucially, $DED announced a surprising snapshot to the Polkadot community, solidifying $DED’s position as a token and giving Polkadot users a reason to continue believing in the project. According to the team, each $DOT holder will receive 36 $DED tokens during the airdrop as the community awaits its official launch.
This is expected to play a crucial role in bringing fresh liquidity to the ecosystem and giving a chance for Polkadot to take a bigger mindshare from the market.
So far, $DED has entered strategic partnerships with several big crypto projects such as Talisman Wallet, Nova wallet, SubWallet and many more, showing how powerful and committed the Polkadot community is.
In addition, the memecoin project announced the launch of its Zealy campaign, offering a total prize pool of over $30,000 in DOT tokens. The project has also seen big crypto personalities such as YouTuber DataDash jump in on the action. DataDash believes the rallying of memecoins in this bull market could play a big role in bringing new investors to Polkadot.
“The launch of $DED on Polkadot could put Polkadot back in centre stage,” DataDash stated in his YouTube video.
Other prominent crypto influencers include Ash Crypto, DubzyXBT and Crypto Banter, who have all predicted a positive impact of $DED on the Polkadot ecosystem.
The launch of $DED memecoin could play a crucial role in resurrecting the Polkadot ecosystem, similar to the role $BONK and $WIF have played in rallying the Solana community and being a catalyst for the revival of $SOL above $200.
Featured image credit: evening_tao / freepik
