Key Takeaways
- Meme currencies like MIRA show their ability to have significant societal effects and raise millions for rare brain tumor research.
- Siqi Chen promised to contribute 100% of MIRA earnings to a charity, therefore transforming a $14 million holding into support for research on children’s diseases.
- The $80 million market cap of MIRA and the viral popularity of meme coins show that they may support causes outside of profit, hence promoting community-driven philanthropy.
Among the most popular trends in the crypto industry of 2024 are meme coins. Although most investors see meme coins as a chance for profit-making, they have a far greater use. One of them is MIRA. As an example of how meme coins can be used meaningfully, look no further than the story of Runway founder Siqi Chen.
The MIRA Token: A Meme Coin with Social Advantage
Siqi Chen agonizingly revealed in September 2024 that his 4-year-old daughter Mira had a brain tumor. Mira turned out to have an uncommon brain tumor called a craniopharyngioma. Although benign, the tumor was found in a rather vital area of her brain.
Still, Mira’s condition became better following surgery.
Many well-wishers advised collecting money for Mira during her treatment. Siqi urged fans, nevertheless, to give to a children’s brain tumor fund instead. He was not expecting an X user, Waddles, to develop a meme coin on Solana named MIRA to help with research initiatives and forward half of its supply to him.
“After reading about Mira and her condition, I decided it would be best to purchase and ship supplies to you with hopes of involving the Solana community behind a worthy cause on Christmas. I’m really happy that it worked out the way it has; I hope the money helps find a cure both for Mira and anyone else with her condition,” The Waddles account said.
Siqi promised instead to contribute 100% of the money to research, pledging not to retain any for himself. He chose to regularly update his personal page with sale reports by selling 1% of his MIRA shares every day. Unbelievably, it skyrocketed rather than the token’s price falling. The way the community backed the MIRA token surprised Siqi as it increased the value of his assets to over $14 million.
Could someone kindly clarify the mechanism of this magic internet money? I am losing my sanity, Siqi said.
Data from GeckoTerminal revealed that as this narrative grew on social media, MIRA’s market capitalization at the time of reporting exceeded $80 million, and trading volumes were over $100 million. Siqi could raise more money for brain tumor research the higher MIRA’s price rose. This was motivated by the attitude of helping to contribute to a significant purpose for society as much as FOMO.
I am not retaining a penny, not even a dime; hence, every dollar you rug from MIRA is a dollar you are depriving rare illness research for children, Siqi emphasized.
But lately, the Pump.fun website has seen several bogus tokens featuring photographs of Siqi Chen’s family.
The price explosion of MIRA highlights the argument on how much meme currencies may benefit society and the world.
Final Thoughts
The MIRA token shows how meme coins can go beyond speculation to create real social impact. By donating 100% of the proceeds, Siqi Chen used transparency to build trust and drive community support, raising millions for rare brain tumor research. MIRA’s $80M market cap and viral growth highlight the potential of crypto for philanthropy. While risks like fake tokens exist, MIRA proves that when paired with purpose, crypto can drive meaningful change.
