The first TON meme token: the rise and fall of Povel Durev (DUREV)
What is Povel Durev?
Povel Durev (DUREV) was the first meme token in the TON ecosystem. As you can guess from the name, the DUREV meme token was named after Pavel Durov, the founder of Telegram and TON.
Povel Durev was the beginning of the trend of meme tokens on the TON blockchain: after him, this ecosystem released such famous tokens as:
All these meme tokens caused such a stir that they repeatedly caused transaction delays in the TON network.
The Povel Durev meme token quickly attracted attention due to its connection to a well-known entrepreneur. The founders of the project themselves call Pavel Durov "the greatest entrepreneur of all time." Some investors might even think the token was issued with Durov's support. Still, the entrepreneur is in no way connected with the project - independent, anonymous developers created it.
The project's website, except for the presence of its products, does not differ much from typical similar resources of other meme tokens. Povel Durev does not have a Whitepaper. The project's only goal, stated on the website, is to "make billions of tons of memes" and make a fortune.
About Povel Durev token
The DUREV token was initially distributed to investors by initial sale directly through a smart contract in the TON network, one of the most popular models for launching meme tokens. In early May 2024, the Povel Durev meme token was already listed on exchanges.
A total of 99.9 million DUREV tokens were issued. As of November 2024, with a capitalization of $2.73 million, the price of the DUREV token is $0.028 — this is even lower compared to the rate at the time of listing, which was fixed at $0.06. The peak price of the DUREV token reached in June 2024 at $0.19.
The first cryptocurrencies in their segment often take a leadership position and appreciate over time under favorable market conditions, but this did not happen with the DUREV meme token. Povel Durev is not even among the leading meme tokens in the TON ecosystem, while Notcoin and DOGS have become the leaders in this segment.
It's worth noting that the Povel Durev token is not available on major exchanges like Binance, ByBit, or OKX and is only traded on smaller venues like MEXC and BingX.
Povel Durev ecosystem
DUREV is not just another meme token. Povel Durev has its ecosystem, which consists of:
- Durev VPN — a VPN solution that allows you to encrypt your traffic, access multiple online resources, supports over 25 countries and payment with cryptocurrency, including the DUREV token;
- Durev Bot — a trading bot in Telegram that allows you to exchange tokens in the TON network directly in the messenger.
The project also released two NFT collections, Povel Durev and Povel Durev #2, available on the Getgems marketplace. Later, the team plans to launch its marketplace for the initial sale of TON Launchpad tokens. However, as of November 2024, the exact launch date of the TON Launchpad is unknown.
Conclusion
Povel Durev's meme token is not showing the best market dynamics, which may be due to the shift of attention to other, more sensational projects like Notcoin, Hamster Kombat, and DOGS, which "pulled" the attention of millions of users and took the dominant positions in the TON ecosystem.
However, the Povel Durev team is not standing still and continues to work on developing the project. Thus, according to the roadmap, Povel Durev developers plan to launch Durev Game and Meme Launchpad in 2024.
As for the prospects of the Povel Durev meme token, it's hard to define: this project is rarely mentioned in the media, blogs, and social networks. More and more, it seems that the Povel Durev token is gradually being forgotten, indicated by the small trading volume, which, as of November 2024, is only $390 thousand. By comparison, Notcoin has a trading volume of over $333 million.