How Far Would You Go to Pump Your Meme Coin? – Decrypt

A livestreaming Solana meme coin developer has been breaking velocity limits and driving round the clock for stretches in generally inclement climate, all in an try to interrupt the world file velocity for solo-traveling all 50 American states.

Leland King Fawcette set out in his Hyundai Kona on June 11 from White River Junction, Vermont. He should end in Honolulu on June 19 by 7:33 PM EDT to beat the file.

On the time of writing, Fawcette had accomplished 47 of the 50 states in roughly seven days, and mentioned he was on monitor to smash the file—however there have been nonetheless huge distances to cowl.

“The issue is: These are the large Western states. These are those the place you drive by way of them for six hours and do not hit something,” the streamer instructed Decrypt. “[They] are greater than most international locations are. Having to drive throughout them and thru them goes to be mind-numbing.”

The All Fifty States Membership is a problem created in 1998 by Barry Stiefel, who completed his journey across the nation within the present file of eight days and 7 hours.

Fawcette unveiled the Solana meme coin 50STATES on June 11, the primary day of his odyssey, as he set off to interrupt Stiefel’s file. With a digital camera strapped on prime of his automobile, he started livestreaming the journey on Pump.enjoyable, the token launchpad that he used to create the coin.

The occasion is one in every of an extended line of streams born on Pump.enjoyable, which has taken over as a popular platform for meme coin creators and others who beforehand had to make use of third-party websites.

Fawcette believes that he holds the higher hand over the forefather of the Quickest to Fifty due to the invention of satellite tv for pc navigation and a extra environment friendly route.

“I additionally needed to do that to spite Barry [Stiefel], as a result of I couldn’t consider that he might get round all of America in eight days and 7 hours by himself,” Fawcette mentioned. “It’s like, I must see if it is truly potential. If even with trendy know-how we will’t get a sub-eight-day, seven-hour time, I’m going to name [Stiefel’s record] into query.”

Three males accomplished the problem in 5 days and 13 hours in Might 2022, in keeping with the All Fifty States Membership web site, documenting the journey on YouTube. The drivers rotated in eight-hour shifts.

50STATES peaked at a market cap simply shy of $1 million on Saturday however has since plummeted to a present cap of about $180,000. One viewer instructed Decrypt that “many individuals are suspicious” that somebody is suppressing the value, however in addition they defined that they’re sure it’ll get well.

“I feel he’s attempting to do one thing actual, however the neighborhood is typically pessimistic,” viewer and dealer Leonardo Sant instructed Decrypt. “He’ll break the file, that’s for positive.”

Customers on prediction market Myriad consider that Fawcette will set the solo file, penciling in an almost 61% probability of success as of this writing. (Disclosure: Myriad Markets is a product of Decrypt‘s mum or dad firm, DASTAN.)

How did we get right here?

Livestreaming occasions to help meme cash dates again greater than a yr.

In Might 2024, a child and his obvious mother begged viewers on their livestream to spend money on their meme coin. The pair promised to carry out lurid stunts on digital camera if the token reached sure market capitalization milestones, together with pouring milk over the mother’s breasts. The occasion went viral.

Following this occasion, Fawcette launched a number of separate livestreaming tokens, i.e., IMLIVEKICK, which all plummeted to zero very quickly. On the time, the streamer blamed the failure of his initiatives on sniper bots shopping for up the token provide when it debuted and “rugging” his viewers. To fight this, he tried to retaliate in opposition to snipers by deliberately rugging his personal initiatives instantly after launch, all whereas telling his viewers to not purchase them.

Different builders have additionally used Pump.enjoyable to advertise stunt-themed cash tied to livestreams, together with one coin creator who set himself on fireplace, leading to third-degree burns throughout 30% of his physique. Livestreaming is now a local characteristic on the positioning, enabling a brand new wave of controversial viral streams.

Edited by James Rubin and Andrew Hayward