Topics Memes

Gummy (GUMMY): Bringing Sweetness to the Solana Ecosystem

Beginner
Memes
Explainers
Altcoins
May 23, 2024

Since the beginning of 2024, meme coins, especially those built on the Solana ecosystem, have experienced tremendous gains. Solana meme coins such as WIF, BOME, BONK and SLERF have turned some investors into overnight millionaires with unbelievable price rallies, sometimes within days of launch.

From dogs wearing hats, to cats and penguins, Solana meme coins can be based on anything — including sweets, such as GUMMY, the latest addition to this robust meme coin train.

Let’s look at GUMMY and learn why it’s a Solana meme coin to watch in the crypto space.

Key Takeaways:

  • GUMMY, the latest token to join the Solana meme coin family, hasn’t disappointed, with an outsized 60% price increase within a day of its launch.

  • GUMMY can be bought on Bybit as a Spot pair in the Adventure ZONE.

  • Bybit is holding a GUMMY airdrop to reward users, who can share in the 15 million GUMMY prize pool worth approximately $2.25 million.

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What Is GUMMY?

GUMMY is a fun Solana meme coin, designed as a “420” gummy bear and backed by an army of high-spirited community members. Like other meme coins in the ecosystem, GUMMY aims to bring liquidity to Solana. The vision behind the GUMMY project is to help its followers create meme coins.

Following its launch on Solana-based platforms such as Raydium and Jupiter in late April 2024, GUMMY experienced a 60% increase in its price within a day. Similar to meme coins such as SLERF, which experienced controversy around its launch, GUMMY has also been caught up in some controversy. According to a popular on-chain analytics platform, a certain investor allegedly made $10 million from an initial investment of $9,770 in GUMMY within only 24 hours. 

However, some observers have speculated that it was an inside job, since the investor withdrew 65.23 SOL tokens (worth the initial investment) 12 minutes before the launch of GUMMY and put them into the same liquidity pool as the project. After that, the money made from the price pump was allegedly transferred to different wallets. While such staggering gains aren’t uncommon with meme coins, the coincidence couldn’t be ignored. Nevertheless, GUMMY has continued to rise due to its army of loyal community members.

GUMMY Airdrop

GUMMY has partnered with Bybit to reward its community with an airdrop in which 15 million GUMMY tokens — worth approximately $2.25 million — are up for grabs. The GUMMY airdrop campaign will run from April 29, 2024, to May 31, 2024. Rewards will be distributed between June 1 and June 15, 2024.

The campaign has been divided into the following four categories:

  • Perk 1 (GUMMY New Users Airdrop) — Ten million GUMMY tokens have been allocated for new users who sign up on Bybit under the influencer CryptoBanter's link, and then deposit at least 100 USDT, and trade at least $100 worth of GUMMY; or deposit at least 1,500 GUMMY tokens with Bybit before the campaign ends.

  • Perk 2 (GUMMY Volume Airdrop) — Two million GUMMY tokens have been set aside for those who trade the GUMMY/USDT pair on Bybit’s Spot trading platform.

  • Perk 3 (GUMMY All Users Airdrop) — To share in this category's 2 million GUMMY prize pool, you only need to watch CryptoBanter's Livestream during the campaign period. The CryptoBanter team will randomly select Bybit users who have traded at least $1 worth of the GUMMY/USDT trading pair.

  • Perk 4 (GUMMY Social Media Airdrop) — One thousand randomly selected participants will receive 1,000 GUMMY tokens each from the 1 million GUMMY prize pool. To participate, follow GUMMY on X, quote/retweet the assigned post and then answer questions in the Google form.

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Where to Buy GUMMY Crypto

You can buy GUMMY on Bybit’s Spot trading terminal as the GUMMY/USDT trading pair.

GUMMY is also listed in Bybit’s Adventure Zone, a high-risk, high-return avenue for investors. Trading tokens in the Adventure Zone avails you of tokens that could yield significantly high returns at an early stage. However, it’s crucial to be aware that these tokens could experience high volatility and other risks, such as sudden delisting, liquidity issues and even total loss.

GUMMY Price Prediction

As of May 23, 2024, GUMMY’s price was $0.07, a 63.5% increase from its ATL price of $0.043 on Apr 21, 2024 and a 68.9% drop from its ATH price of $0.228 on Apr 22, 2024.

Price prediction experts are relatively bullish on GUMMY. According to price forecasting experts at DigitalCoinPrice, GUMMY will hit a maximum price of $0.18 in 2025 and rise to $0.54 by 2030. Another price prediction platform, CoinCodex, is also bullish on the short-term price of GUMMY, as its experts believe the token could hit $0.31 in 2025 but drop to $0.25 in 2030.

While these prices may seem bullish, we highly recommend you do your own research (DYOR) before investing in GUMMY, as meme coins come with a high risk of volatility.

Closing Thoughts

Similar to other Solana meme coins, the GUMMY crypto has proven that the ecosystem is still vibrant and highly liquid. As the latest entrant into the Solana family, GUMMY has already attracted the attention of meme coin lovers, and an exciting ride undoubtedly lies ahead for this sweet-themed meme coin.

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