The infamously defunct energy giant Enron has resurfaced as a memecoin on the Solana blockchain.
The coin is being launched by Connor Gaydos, co-creator of the “Birds Aren’t Real” movement, who acquired the Enron trademark and assets for a whopping $275, and declared himself the new CEO.
“People forget that the Titanic was a beautiful ship and it doesn’t deserve to be rotting away on the bottom of the ocean,” Gaydos says on reviving Enron as a memecoin.
According to Solscan data, the Enron coin with the address BktHEAc2WS8TQi2vmavn1rA4L1WJuwF3Vkk3DnwwARti already has over 4,500 holders with a market cap of $225 million.
The launch of the coin comes a month after Enron launched its first product in 20 years — Enron Egg, a micro nuclear reactor (it wasn’t one, if it needs to be said).
The Bigger Picture: There has been a stark rise in such coin launches, and with it have come rug pulls.
The “Hawk Tuah” fame’s Haliey Welch similarly launched a Solana memecoin $HAWK in December.
The token would reach a market caplitalization as high as $500 million before crashing to nothing — a matter that is now subject to lawsuit on allegations of pump and dump.
President Donald Trump coming in office with his own $TRUMP token and first lady Melania Trump launching $MELANIA, memecoins have found a new life in 2025.
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