After the announcement by Colossal Biosciences about the 'resurrection' of the so-called dire wolf using ancient DNA, the crypto community reacted instantly. A token named REMUS appeared on the Solana blockchain, rapidly gaining a market capitalization of over $13 million in less than nine hours.
Using synthetic biology technology, scientists produced three puppies — Remus, Romulus, and Khaleesi — using DNA fragments extracted from remains up to 72,000 years old. The founder of the company, Ben Lemm, noted that this is not cloning, but genetic reproduction. The meme coin REMUS launched on the Pump.fun platform and initially went unnoticed. However, after media coverage and information spread on social networks, traders massively bought up the asset. One investor turned $1000 into $108,700.
Despite the sharp rise, the token soon corrected. Within a few hours, its market capitalization dropped to $4.3 million before rising again to $13.61 million and then falling to $6.2 million, according to DEX Screener.
In addition to REMUS, tokens named after other 'resurrected' puppies appeared — ROMULUS and KHALEESI. However, their capitalization turned out to be more modest: $2.1 million and $786,000 respectively.
According to Lemm, the project has a scientific-ecological purpose, including biodiversity conservation. Meanwhile, the crypto market continues to use biotechnological breakthroughs as a basis for speculative stories and the launch of meme coins, experts note.#BinanceHODLerBABY #Squar2earn #BinanceSquare #BinanceMemeWave #memecoin🚀🚀🚀 $USDC