IoTeX Embraces DePIN Meme Coin Status Amid Market Trends

In a surprising development in the blockchain space, IoTeX’s official Twitter account (iotex_io) made a notable announcement on November 14th, acknowledging IOTX as a DePIN meme coin in response to current market conditions. This strategic positioning represents a significant shift in how the project presents itself to the cryptocurrency community.

The announcement appears to be capitalizing on the growing trend of meme coins within the DePIN (Decentralized Physical Infrastructure Networks) sector, which has been gaining significant traction in recent months. This move by IoTeX demonstrates the project’s adaptability and awareness of market dynamics in the rapidly evolving cryptocurrency landscape.

Following the announcement, the IoTeX ecosystem saw immediate market impact, with its ecosystem meme coin DePINs experiencing remarkable growth. The token surged to $0.00007 before settling at $0.000054, marking a substantial 45% increase since its launch. This price movement suggests strong market reception to IoTeX’s new positioning strategy and highlights the growing influence of meme coins in the DePIN sector.