TLDR
- Ronald Watkins took a leap into the memecoin arena on pump.fun, beginning with a modest borrowed sum of Solana worth $1,000, which remarkably soared to $100,000.
- The 8chan coin currently rings in at a $2.6 million market valuation, and Watkins has an eye on hitting the $500 million mark, aiming to rival his perceived valuation of Vine, although the real cap for Vine stands at $67 million.
- 8chan's token release comes with the allure of three pivotal project goals: a $10 million target for rebranding 8kun back to 8chan, $100 million for the decentralized Project Odin message board, and an elusive 'mysterious figure' reveal at the $500 million benchmark.
- As per Coin Market Cap, the expansive offering consists of a billion 8chan tokens.
- In the past, 8chan faced bans from services like Cloudflare due to hosting illicit content and manifestos tied to mass violence, leading to its subsequent rebrand as 8kun.
From being the administrator of the infamous 8chan forum, Ronald Watkins now channels his expertise into a vibrant memecoin on pump.fun. This cryptocurrency project emerged from a strategic $1,000 investment in borrowed Solana, which has since burgeoned into a $2.6 million market offering. Under the alias 'CodeMonkeyZ,' Watkins helmed 8chan for about four years until 2020. The platform later transitioned into '8kun' amid myriad controversies, prompting service providers like Cloudflare to discontinue support.
For years, 8chan stood as a linchpin in meme culture and global political discourse.
As the years ensued, numerous government bodies began perceiving us as a threat, orchestrating efforts with USAID to dismantle 8chan.
We were able to do the unthinkable.
With President Trump now in office for his second stint...
Watkins unveiled the 8chan token, crediting inspiration to President Trump's own memecoin venture. As Watkins shared, 'I saw Trump had launched his memecoin recently; I investigated his approach.' The borrowed amount swiftly grew, turning the initial $1,000 into a claimed $100,000. pic.twitter.com/rTrL0Pzdpt— Ron (@CodeMonkeyZ) February 11, 2025
Data from Coin Market Cap reflects the token's structuring, comprising a billion coins. Watkins has mapped out three primary objectives, each associated with distinct capitalization benchmarks.
The project envisions its first landmark at $10 million in market cap,
Watkins aims to rechristen the present 8kun setup back to its original moniker, 8chan. For the second phase at $100 million, plans include developing Project Odin, conceived as a decentralized, censorship-resistant forum. Upon reaching the $500 million market cap goal, Watkins vows to disclose a 'mysterious figure' — this ambition stems from a valuation estimate of Vine token, though market insight places Vine's reality at around $67 million.
Before embarking on this endeavor, Watkins alludes to involvement in another crypto initiative. He references a 2017 creation, Susucoin, designed to defend free speech through a proof-of-work mechanism. However, the earlier initiative failed to gain traction widely, with Watkins' role in its inception lacking explicit substantiation.
The production of the 8chan coin saw partnership with an advisor under the pseudonym 'JFK Jr,' as Watkins disclosed. Together, they devised the rollout blueprint on pump.fun, where the token is presently exchanged.
8chan Token
Project Odin, featured in the token's timeline, shares its moniker with an extant website development training scheme serving over 1.5 million users. Watkins envisions leveraging this branding for his proposed forum framework.
When comparing market positions, Watkins analogized 8chan and Vine, citing their 'nostalgia value.' Yet, his market cap projections for Vine appear inflated, with current data showing substantially lower figures.
Information about the token’s foundations remains sparse on the website, which prioritizes the three milestone objectives and potential community rewards.
Watkins reflects proudly on 8chan's past, stating, 'I feel immense pride in how 8chan has contributed to President Trump's political triumphs over the years.' He anticipates the platform's enduring impact.
As it stands, the 8chan token sustains a market cap of $2.6 million on pump.fun, marking the genesis of Watkins' grand aspirations.
The newly rebranded 8kun platform is reportedly hosted by various international and domestic service providers. While Watkins has stepped down from his administrative post, signs indicate some ongoing participation in the platform's affairs.
This token's introduction marks yet another chapter in the flourishing memecoin landscape, with its triumph or failure contingent on achieving its specified milestones.
Maisie shines as a seasoned journalist penning Crypto & Financial news, her credentials spanning Moneycheck.com, level-up-casino-app.com, Computing.net, and leading Blockfresh.com as the Editor in Chief.
