Colossal's Dire Wolf Revival Sparks 67.8% Meme Coin Surge

On Monday, Colossal Biosciences announced the revival of the dire wolf, a species that went extinct over 10,000 years ago. This news sparked significant interest among meme coin traders, particularly those involved with Solana tokens. A new token, New Ancient DNA Cloned Wolf (REMUS), was created on Pump.fun shortly after the announcement. The token's market capitalization surged to $13.33 million within nine hours, driven by the community's enthusiasm and control over the project, a phenomenon known as a community takeover (CTO).

Despite its initial success, REMUS experienced significant volatility, retracing 67.8% to $4.3 million within seven hours. However, it later surged to a new all-time high of $13.61 million before dropping to its current value of $6.2 million. One trader reportedly made a profit of $108,700 from an initial investment of $1,000. Other meme coins dedicated to the dire wolf's siblings, Romulus and Khaleesi, also appeared but attracted less interest, peaking at $2.11 million and $786,000 respectively.

Dire wolves, known for their larger size, snowy white coat, and strong bite, once roamed the Americas but went extinct due to climate change, disease, and possibly a large comet impact. Colossal Biosciences claims to have revived the species using genetic engineering, comparing DNA from ancient dire wolf remains with that of gray wolves. The company edited the genes in gray wolf cells to resemble those of a dire wolf and inserted them into gray wolf ova, which grew into embryos and were transferred into surrogate domestic hound mothers. The resulting pups, Remus and Romulus, displayed behaviors necessary for survival in the wild, such as howling, stalking, and hunting. A sister pup, Khaleesi, was born a few months later.

Colossal Biosciences, founded in 2021 by Ben Lamm and George Church, initially aimed to genetically resurrect a woolly mammoth. The company has since raised significant funding and attracted investment from various sources. In March, Colossal created a woolly mouse using woolly mammoth DNA, which also spawned a Solana meme coin. The company plans to focus on the "de-extinction" of other species, including the woolly mammoth, the dodo, and the Tasmanian tiger, which could potentially lead to more meme coin activity.

However, some experts have disputed Colossal's claims, arguing that the revived animals should be considered genetically modified gray wolves rather than true dire wolves. The pups will not be allowed to breed and will be kept within a secure, guarded plot, monitored by drones. This decision may limit the potential for further meme coin activity related to the dire wolf.