Siqi Chen, an Asian father of a four-year-old girl diagnosed with a Brain tumor has raised $18 million after a Solana memecoin named after daughter “MIRA” was created to solicit funds.
The memecoin created to raise funds for Mira’s Healthcare and fund the research of rare diseases in children started trending in the memecoin space early hours of this money.
Mira’s father, Siqi holds 50% of the Total MIRA Supply worth a staggering $18 million at the time of the report.
He pledged that every single cent of the money will go into research for Brain Tumor and rare diseases in Children.
MIRA memecoin has surged by 4102% since its launch on Pump. fun with Siqi holding 299 million MIRA Tokens.
How it Started
The Mira story began on Sep 27 after a post by Siqi about the medical condition of his daughter went viral gaining 8.8 million views and 7.8k retweets.
The Viral post kickstarted a gofund page for MIRA piloted by the father and patronized by sympathizers who were touched by MIRA’s story and wanted to help.
The MIRA community expanded into crypto when a random guy created the MIRA memecoin using Solana’s pump.fun
Roughly three months after the viral post, Siqi decided to endorse a memecoin named MIRA created on Pump. fun by an anonymous character thus kickstarting the MIRA memecoin story which bagged him $18 million.
50% Total Supply Received
Mira’s father Siqi, confirmed that an anonymous guy created a Memecoin called MIRA and sent him 50% of the total supply. At the time of his post, the tokens were worth $400,000.
He explained that he really did not know what to do with it and that he was strongly against rug pull schemes.
The MIRA bag ballooned from $400,000 to $10 million in a matter of hours. Mira’s father responded to the mind-blowing surge by stating that the entire money will go to rare disease research and he is interested in working towards making Solana more sustainable for its global community.
$18 million in 8 hours
At the time of the report, Siqi’s MIRA bag has ballooned to $18 million surging by 4102% since launch.
The entire funds will be going to funding rare disease research at Hakinson’s Lab in the University of Colorado.
The Rising Case against Memecoins
Memecoins like MIRA have a historical precedence of pumping immediately after launch to astronomical heights and then dumping in a matter of days.
The crypto asset class has been criticized for being a net Negative in the industry and lacking a real-world use case.
Memecoins like MIRA prove that Memecoins could be for a cause if used right as MIRA is currently been used to raise funds for rare disease research in children.
At the time of the report, MIRA is exchanging hands for $0.0428 dropping by 17.4% in the last 24 hours.
