Charles Hoskinson, the creator of Cardano, posted a picture of his pet pig, Nike, and hours later, someone had created a memecoin called NIKE.

It quickly gained popularity and a market capitalization of 1.72 million ADA, or about $650,000.

With a trading volume of over 1.5 million ADA, it became the third most traded Cardano token of the day.

Charles: "I'm at a loss that a picture of my pig has resulted in a memecoin that is nearly at a million dollars in under 12 hours."

Source: @IOHK_Charles