MIRA Token: Definition, Functions, and Differences from Other Solana Meme Coins

Bittime -   The MIRA token has become increasingly trendy recently because it is used to donate to brain tumor research. 

The MIRA token was developed on the Solana network by Siqi Chen, a father whose daughter Mira suffers from a brain tumor. 

So what is the MIRA token? What is its meaning, history and function?

Understanding MIRA Tokens

MIRA token is a crypto asset created on Pump.fun by Siqi Chen. The tokens running on the Solana network have a total supply of 999,935,994 tokens. 

In September 2024, Siqi Chen, founder and CEO of Runway, revealed the heartbreaking news that her five-year-old daughter, Mira, was diagnosed with a brain tumor. 

This type of tumor, craniopharyngioma, although benign, is very rare and has no currently available cure. 

This condition can cause severe side effects, and to overcome this challenge, Chen worked closely with Dr. Todd Hankinson of the University of Colorado, the only laboratory in the world focused on researching this rare tumor.

To support further research, Chen started a fundraising campaign via GoFundMe which managed to raise $243 thousand (Rp. 3.93 billion) in just three days. 

Not only that, the crypto world also contributed through the creation of a Solana (SOL) based token called MIRA. This token is a symbol of solidarity in the crypto community and shows that digital assets can have a nobler purpose other than mere profit.

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MIRA Token Function

MIRA, which was initially created as a memecoin by an internet user, showed extraordinary performance by reaching a market capitalization of $80 million (Rp. 1,296 trillion) on December 26, 2024. 

In fact, half of the total supply of these tokens was sent directly to Chen's Solana address as a form of support. Chen himself chooses to sell $1,000 worth of MIRA (Rp. 16.2 million) every day to support ongoing research into his daughter's brain tumor.

However, MIRA's market capitalization experienced a drastic decline and was at $8 million (Rp. 129.6 billion) when this article was written. But on December 30, the MIRA token price skyrocketed by more than 150%.

This phenomenon reflects the volatile nature of the crypto market, where many early traders take huge profits in a short period of time. Nevertheless, this initiative still shows the positive side of the crypto community which is often considered full of speculation and fraud.

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MIRA Token Differences with Other Meme Coins on the Solana Network

Solana is known as an efficient and cost-friendly blockchain ecosystem, making it home to many memecoins. Apart from MIRA, the other three main memecoins on the Solana network are Bonk (BONK), Dogewifhat (WIF), and Popcat (POPCAT). 

The market capitalization and price performance of these tokens shows a similar trend to MIRA, where the high enthusiasm in September to November 2024 has slowly decreased in the last six weeks.

For example, Dogecoin (DOGE), the most popular memecoin in the global market, remains the most stable despite fluctuations. DOGE managed to maintain most of its profits compared to other Solana tokens such as POPCAT which had a rapid rise but eventually experienced a significant decline.

Conclusion

The MIRA case provides an interesting look at the potential utility of crypto beyond speculative profits. Apart from being an investment tool, crypto can be used to support social and humanitarian causes such as MIRA. 

A similar example occurred in 2021 when Vitalik Buterin donated $1.2 billion (Rp. 19.44 trillion) in Shiba Inu (SHIB) to the Covid-19 Relief Fund in India.

With MIRA, the crypto community is reminded that digital assets are not only about personal gain, but can also be an instrument of solidarity to help those in need. However, market volatility remains a major challenge that all parties involved need to be aware of.

FAQ 

What is MIRA Token?
The MIRA token is a token developed on the Solana network via Pump.fun. MIRA tokens have a total supply of 999 million tokens. 

Who Created MIRA Token?

This token was created by Siqi Chen because his daughter Mira suffered from a brain tumor. This is a charity donation to help Mira and is used to fund research related to rare tumor diseases.

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Reference

WITH Crypto, MIRA, accessed December 31, 2024.
BitDegree, What is Cryptocurrency, Accessed December 31, 2024.
CoinGecko, MIRA Token, Accessed December 31, 2024.

Author: MF