{"id":213068,"date":"2025-03-07T16:38:23","date_gmt":"2025-03-07T14:38:23","guid":{"rendered":"https:\/\/99bitcoins.com\/?p=213068"},"modified":"2025-03-07T16:38:23","modified_gmt":"2025-03-07T14:38:23","slug":"cardano-meme-coin-snek-crypto-gets-rekt-as-traders-dump-ada-due-to-wording-of-digital-asset-executive-order","status":"publish","type":"post","link":"https:\/\/99bitcoins.com\/news\/presales\/cardano-meme-coin-snek-crypto-gets-rekt-as-traders-dump-ada-due-to-wording-of-digital-asset-executive-order\/","title":{"rendered":"Cardano Meme Coin SNEK Crypto Gets Rekt As Traders Dump ADA Due To Wording Of Digital Asset Executive Order"},"content":{"rendered":"<p>Cardano\u2019s leading meme coin, SNEK tumbles nearly 10% over the past 24 hours due to the sell-off of ADA. ADA itself has dropped over 7% since yesterday, dropping to around $0.88.<\/p>\n<p>ADA, SOL and XRP have all experienced large sell-offs after it was revealed that the US Digital Asset Stockpile could be planning to sell the three aforementioned assets. As a result, alt coins and meme coins within those ecosystems experienced heavy drops.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">It's official. We won.<\/p>\n<p>The United States now holds 198,109 BTC in its Strategic Bitcoin Reserve.<\/p>\n<p>Also, the \"Digital Asset Stockpile\" is separate in this bill\u2014bitcoin is now distinguished from \"crypto\" at the federal level.<a href=https://99bitcoins.com/"https:////t.co//GWv4Tkq7bb/" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/GWv4Tkq7bb<\/a><\/p>\n<p>\u2014 Joe Consorti \u26a1\ufe0f (@JoeConsorti) <a href=https://99bitcoins.com/"https:////twitter.com//JoeConsorti//status//1897807242054738117?ref_src=twsrc%5Etfw\%22 target=\"_blank\" rel=\"nofollow\">March 7, 2025<\/a><\/p><\/blockquote>\n<p><script async src=https://99bitcoins.com/"https:////platform.twitter.com//widgets.js/" charset=\"utf-8\"><\/script><\/p>\n<h2>Nothing Confirmed From US Government But Rumours Cause Panic In Market: SNEK Caught In Crossfire<\/h2>\n<p>The latest rumour is that the US is gearing up to dump ADA, SOL and XRP on the market, in large quantities.<\/p>\n<p>As a result, the Cardano meme coin, SNEK, has been caught in the crossfire. Holders are dumping it in large quantities and causing its price to tank.<\/p>\n<p>It all stems from Trump\u2019s executive order, signed yesterday. It confirms the creation of a Bitcoin Strategic Reserve and also a Digital Asset Stockpile.<\/p>\n<p>The key takeaways from the order are that the BTC in reserve won\u2019t be sold. However, the tokens in the digital assets stockpile can be sold.<\/p>\n<p>Causing further panic for holders of the proposed assets for the stockpile came with the probability of the treasury suggesting budget neutral ways of increasing the BTC in reserve. Many are reading this as the government can sell assets within the stockpile to add to its Bitcoin reserve.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">I encourage you to read the announcement of the Strategic Bitcoin Reserve. Key points:<\/p>\n<p>\u2013 BTC in reserve won't be sold<br>\u2013 Shitcoins in digital assets \"stockpile\" can be sold<br>\u2013 Treasury can suggest budget neutral ways of increasing BTC in reserve\u2026 (Aka sell shitcoins &amp; gold!) <a href=\"https:\/\/t.co\/XhwfPVulmT\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/XhwfPVulmT<\/a><\/p>\n<p>\u2014 Vijay Boyapati (@real_vijay) <a href=\"https:\/\/twitter.com\/real_vijay\/status\/1897857452827451877?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">March 7, 2025<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><strong>EXPLORE: <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/new-cryptocurrency\/\" target=\"_blank\" rel=\"nofollow noopener\">Best New Cryptocurrencies to Invest in 2025<\/a><\/strong><\/p>\n<h2>Cardano Meme Coin SNEK Suffers Due To Widescale Sell Off Of ADA<\/h2>\n<p>As investors went from uber bullish on the five tokens touted by President Trump as ripe for a potential Digital Asset Stockpile, unclear and dubious wording of the official executive order has created panic across the markets.<\/p>\n<p>Ripple (XRP), Solana (SOL) and Cardano (ADA) are down 3%, 5% and 7.5% respectively as people begin to dig into the wording of the executive order, believing that the Trump administration are gearing up to dump the aforementioned assets onto the market.<\/p>\n<p>With ADA being hit the hardest of the three, it comes as no surprise that the Cardano ecosystem is suffering as a result. Its leading meme coin, SNEK, is down nearly 10% overnight, sliding to around $0.0038, per <a class=\"general-link\" href=\"https:\/\/www.coingecko.com\/en\/coins\/snek\" target=\"_blank\" rel=\"noopener nofollow\">CoinGecko<\/a>.<\/p>\n<p>The market cap of SNEK has been hit hard also, dropping from $425 million just three days ago to its current level of $290 million. The mass sell-offs on SNEK have resulted in a volume spike, with CoinGecko showing $2.9m of trading volume over the past day.<\/p>\n<p>For SNEK to reverse, ADA will need to settle itself. The wider ecosystem can\u2019t begin to thrive again until ADA shows some strength and stops its own downhill tumble.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-213084 size-full\" src=\"https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/03\/Screenshot-2025-03-07-at-11.36.27.png\" alt=\"As the market reacts to dubious wording of Trump's digital asset stockpile by dumping ADA, its leading meme coin SNEK is hit hard\" width=\"2320\" height=\"887\" srcset=\"https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/03\/Screenshot-2025-03-07-at-11.36.27.png 2048w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/03\/Screenshot-2025-03-07-at-11.36.27-300x115.png 300w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/03\/Screenshot-2025-03-07-at-11.36.27-1024x392.png 1024w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/03\/Screenshot-2025-03-07-at-11.36.27-768x294.png 768w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/03\/Screenshot-2025-03-07-at-11.36.27-1536x587.png 1536w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/03\/Screenshot-2025-03-07-at-11.36.27-50x19.png 50w\" sizes=\"auto, (max-width: 2320px) 100vw, 2320px\" \/><\/p>\n<p>(<a class=\"general-link\" href=\"https:\/\/www.coingecko.com\/en\/coins\/snek\" target=\"_blank\" rel=\"noopener nofollow\">COINGECKO<\/a><\/p>\n<h2>BONUS: Best Crypto To Buy!<\/h2>\n<p><iframe loading=\"lazy\" title=\"MEME INDEX CAN THRIVE WITH THIS MAJOR SEC ANNOUNCEMENT!!! HUGE!\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/R2oP-8bBXFk?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p><a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/goto\/memeindex?transfer=1\" target=\"_blank\" rel=\"nofollow noopener\">Meme Index (MEMEX)<\/a> is aiming to shake up the suffering meme coin space with its introduction of TradFi style index funds. Unlike traditional sector-wide tracking, the <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/goto\/memeindex?transfer=1\" target=\"_blank\" rel=\"nofollow noopener\">Meme Index<\/a> takes a smarter approach by factoring in token volatility often associated with the meme coin space.<\/p>\n<p>The Meme Index is divided into four categories based on volatility:<\/p>\n<ul>\n<li><strong>Meme Titan Index \u2013<\/strong> The least volatile, featuring meme coins valued at least $1 billion.<\/li>\n<li><strong>Moonshot Index \u2013<\/strong> Includes tokens between $250 million and $1 billion.<\/li>\n<li><strong>Midcap Index \u2013<\/strong> Covers tokens ranging from $50 to $250 million.<\/li>\n<li><strong>Meme Frenzy Index \u2013<\/strong> The most volatile, comprising under $50 million tokens.<\/li>\n<\/ul>\n<p>These indexes offer investors the ability to tailor risk exposure, with something for everyone. The Meme Index also provides a liquidity advantage to its users.<\/p>\n<p>Unlike smaller meme coins that regularly suffer from liquidity constraints, the index structure enables investors to quickly enter and exit positions without being the fear of being trapped in low-volume assets.<\/p>\n<h2>More About MEMEX Community<\/h2>\n<p>The tokens within each index is carefully curated by the Meme Index team with input for new assets and removal of poor-performing assets also taken from the MEMEX community.<\/p>\n<p>This level of participation gives investors a more responsible and strategic approach to meme coin investing. It offers a more community-driven approach, allowing holders to be more reactive toward emerging opportunities.<\/p>\n<p>The MEMEX presale is about to hit $4m in early stage funding and is currently offering over 570% staking rewards for investors who wish to earn some passive income whilst waiting for the ICO to conclude.<\/p>\n<p>Join the community on\u00a0<a class=\"general-link\" href=\"https:\/\/t.me\/memecoin_index\" target=\"_blank\" rel=\"noopener nofollow\">Telegram<\/a>\u00a0and<a class=\"general-link\" href=\"https:\/\/x.com\/memecoin_index\" target=\"_blank\" rel=\"noopener nofollow\">\u00a0X<\/a>\u00a0to stay updated with the latest news and developments.<\/p>\n<p><strong>Check out the\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/goto\/memeindex?transfer=1\" target=\"_blank\" rel=\"nofollow noopener\">Meme Index<\/a><\/strong><\/p>\n<p><b>DISCOVER: <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/news\/sbf-just-lost-his-biggest-advocate-after-tucker-carlson-crypto-interview\/\" target=\"_blank\" rel=\"noopener\">SBF Just Lost His Biggest Advocate After Tucker Carlson Crypto Interview<\/a><br>\n<\/b><\/p>\n<p><strong><a class=\"general-link\" href=\"https:\/\/discord.gg\/B7Uk6agkqj\" target=\"_blank\" rel=\"noopener nofollow\">Join The 99Bitcoins News Discord Here For The Latest Market Updates<\/a><\/strong><\/p>\n    <div class=\"nnbtc-key-takeaways\">\r\n        <h3 class=\"nnbtc-key-takeaways__title\">Cardano meme coin SNEK dumps following ADA sell-off<\/h3>\r\n        \n    <ul class=\"nnbtc-key-takeaways__list\">\r\n        \n    <li class=\"nnbtc-key-takeaways__list-item\">\r\n         XRP, SOL and ADA all dumped following rumours that the Trump administration is gearing up to dump the assets     <\/li>\r\n    \n    <li class=\"nnbtc-key-takeaways__list-item\">\r\n         As a result of the ADA sell-off, its leading meme coin SNEK tumbles 10%     <\/li>\r\n    \n    <li class=\"nnbtc-key-takeaways__list-item\">\r\n         Meme Index (MEMEX) presale nears $4m in funding as it offers investors a simplified way to gain exposure on the fast moving meme coin sector     <\/li>\r\n    \n    <\/ul>\r\n    \n    <\/div>\r\n    \n","protected":false},"excerpt":{"rendered":"<p>Cardano\u2019s leading meme coin, SNEK tumbles nearly 10% over the past 24 hours due to the sell-off of ADA. ADA itself has dropped over 7% since yesterday, dropping to around $0.88. ADA, SOL and XRP have all experienced large sell-offs after it was revealed that the US Digital Asset Stockpile could be planning to sell..<\/p>\n","protected":false},"author":135771,"featured_media":213088,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"categories":[40078],"tags":[39179],"coin":[40852,40813,40948,41162],"class_list":["post-213068","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-presales","tag-presales"],"wppr_data":{"cwp_meta_box_check":"No"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.6 (Yoast SEO v24.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cardano Meme Coin SNEK Crypto Gets Rekt As Traders Dump ADA Due To Wording Of Digital Asset Executive Order - 99Bitcoins<\/title>\n<meta name=\"description\" content=\"As the market reacts to dubious wording of Trump&#039;s digital asset stockpile by dumping ADA, its leading meme coin SNEK is hit hard\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/99bitcoins.com\/news\/presales\/cardano-meme-coin-snek-crypto-gets-rekt-as-traders-dump-ada-due-to-wording-of-digital-asset-executive-order\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cardano Meme Coin SNEK Crypto Gets Rekt As Traders Dump ADA Due To Wording Of Digital Asset Executive Order\" \/>\n<meta property=\"og:description\" content=\"As the market reacts to dubious wording of Trump&#039;s digital asset stockpile by dumping ADA, its leading meme coin SNEK is hit hard\" \/>\n<meta property=\"og:site_name\" content=\"99Bitcoins\" \/>\n<meta property=\"article:published_time\" content=\"2025-03-07T14:38:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/03\/image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"768\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Alex Ioannou\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/x.com\/ACossy17\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Alex Ioannou\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/99bitcoins.com\/news\/presales\/cardano-meme-coin-snek-crypto-gets-rekt-as-traders-dump-ada-due-to-wording-of-digital-asset-executive-order\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/99bitcoins.com\/news\/presales\/cardano-meme-coin-snek-crypto-gets-rekt-as-traders-dump-ada-due-to-wording-of-digital-asset-executive-order\/\"},\"author\":{\"name\":\"Alex Ioannou\",\"@id\":\"https:\/\/99bitcoins.com\/#\/schema\/person\/0b00562b63306aee3c66625a9bd1ec30\"},\"headline\":\"Cardano Meme Coin SNEK Crypto Gets Rekt As Traders Dump ADA Due To Wording Of Digital Asset Executive Order\",\"datePublished\":\"2025-03-07T14:38:23+00:00\",\"dateModified\":\"2025-03-07T14:38:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/99bitcoins.com\/news\/presales\/cardano-meme-coin-snek-crypto-gets-rekt-as-traders-dump-ada-due-to-wording-of-digital-asset-executive-order\/\"},\"wordCount\":867,\"publisher\":{\"@id\":\"https:\/\/99bitcoins.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/99bitcoins.com\/news\/presales\/cardano-meme-coin-snek-crypto-gets-rekt-as-traders-dump-ada-due-to-wording-of-digital-asset-executive-order\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/03\/image.jpg\",\"keywords\":[\"Presales\"],\"articleSection\":[\"Presales\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2025\",\"copyrightHolder\":{\"@id\":\"https:\/\/99bitcoins.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/99bitcoins.com\/news\/presales\/cardano-meme-coin-snek-crypto-gets-rekt-as-traders-dump-ada-due-to-wording-of-digital-asset-executive-order\/\",\"url\":\"https:\/\/99bitcoins.com\/news\/presales\/cardano-meme-coin-snek-crypto-gets-rekt-as-traders-dump-ada-due-to-wording-of-digital-asset-executive-order\/\",\"name\":\"Cardano Meme Coin SNEK Crypto Gets Rekt As Traders Dump ADA Due To Wording Of Digital Asset Executive Order - 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