$HOWDY Launches on Solana at Noon ET, $20M Cap, 210M Tokens Burned

The digital asset $HOWDY, associated with Howdy Hats, launched on the Solana network at noon ET / 16:00 UTC, marking a significant event in the cryptocurrency and NFT (Non-Fungible Token) space. The launch was preceded by a snapshot that excluded exchange-listed hats, focusing on wallets holding Howdy Hats directly. The anticipation built up with various stakeholders, including holders and enthusiasts, discussing their strategies and expectations online. The initial trading of $HOWDY placed its market cap around $20 million, with each Howdy Hat allocation valued at approximately $2,400. Furthermore, the Howdy team announced a strategic move to enhance liquidity and visibility by gradually migrating some liquidity to Raydium from Orca. This transition aims to improve the trading experience for $HOWDY holders. Additionally, a significant burn of $HOWDY tokens from the treasury was executed to potentially stabilize or enhance the token's value, with 210 million $HOWDY tokens reported burned. Notably, the price of the NFTs fell by 80%, from 10 SOL to 2 SOL, after the snapshot, despite reaching a peak value of 11.5 SOL.