Using the tutorial, one user created memecoin in just over 22 seconds.
A new craze hits the crypto scene as people discover how to whip up a brand-new cryptocurrency in under 30 seconds.
Memecoins have recently gained traction, and a video by digital artist Johnny Shankman (whitelights.eth) reveals just how simple it is to create a new token using Contracts Wizard by OpenZeppelin.
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The video demonstrates the rapid creation of an amusing token called "EASY_MONEY" in only 27 seconds, with the record-breaking the very next day at a mere 22.45 seconds.
It is worth noting that the "speed run" phenomenon stems from the gaming world and involves completing a game or level as fast as possible.
Contracts Wizard allows users to generate an ERC-20 token code by selecting desired features. Shankman used the Remix application to compile the smart contract and deploy it on the Ethereum testnet.
Under the video, the digital artist clarified that the created material is "for educational purposes only" and EASY_MONEY isn't a real token for trading. However, Shankman noted that someone used his example and made the cryptocurrency provided in his example. The man emphasized that he did not create that token and does not plan to buy it.
Crypto Twitter picked up on the video, and it has since accumulated over 3 million views across various accounts.
The viral trend coincides with the growing popularity of memecoins like Pepe (PEPE), a frog-themed token that has seen a 5,000% value increase since April 14th. However, recently the price of PEPE fell by over 40%, leaving a crypto whale with over half a million in unrealized losses just days after it purchased 962.3 billion Pepe tokens.
