Lessons from $LUIGI as $SLAP Gains 220%
As meme coins continue to win over the public’s hearts and wallets, analysts are grappling with their irreverent and often depraved appeal.
Take $Luigi, for example, a meme token inspired by Luigi Mangione, the prime suspect in the Dec. 4 shooting of UnitedHealthcare CEO Brian Thompson. Two days after its launch earlier this week, the coin’s market capitalization surged to $77 million, in what can only be interpreted as a protest against Mangione’s arrest on December 9.
Mangione is considered a hero for writing a manifesto against corporate greed and taking action during the brutal hit-and-run shooting, which was recorded live and watched online by millions.
In a depraved reaction, anonymous cryptocurrency traders then launched Luigi Coin, which immediately started trending online Rydiaan automated market maker based on Solana.
Hype coins mark public sentiment
Meme coins often emerge in response to viral content, news, or pop culture events, and their value can fluctuate significantly, reflecting public sentiment on these topics.
While much of the content is based on fairly innocuous memes like dogs, cats, and frogs, others are driven by darker tropes like murder, suicide, cancer, and even swastikas.
For example, the power of Luigi’s Coin seems to come from the underlying anger of ordinary people against corporate greed.
“As always, the Solana Meme Coin is the best source of news, as demonstrated by the Luigi Mangione Coin produced just a few minutes later,” said Meme Coin Master Burning Kitty. X.
The $Luigi meme coin continues to benefit from the hype surrounding the story, but like most news-based meme coins, it is highly volatile and has dropped to $29 million At the time of writing this article.
Dark energy powers meme coins
Similarly, tokens like Catslap fulfill the public’s secret desire to maybe beat up some powerful people, as described in $SLAP website.
These meme coins show that public outrage can be channeled by sending coins to the moon, but at the same time, acting on intense emotions may not be the best option.
This is because the higher the fee for an issue, the more volatile the value will be, and as we can see, $LUIGI can fall just as fast as it rises.
Alex Beene, a financial literacy lecturer at the University of Tennessee, said in an interview that meme tokens like $LUIGI lack the fundamental value and stability of traditional assets, making them highly volatile and risky investments. Newsweek.
“Typically, the rise in value of a memecoin associated with a viral story or trend isn’t that scary, let alone one centered on criminal activity. Even the current flurry of purchases is driven more by novelty than as a A sign of support, but it definitely won’t have a positive impact on some people in the crypto community,” Beene added.
Analysts think if you like irreverent meme coins, a smarter move might be to check out something like cat pat ($SLAP). Since its listing on MEXC on December 6, the token’s price has surged by approximately 220%. The token’s price has increased by 7,500% since its launch on the decentralized exchange two weeks ago.
Catslap’s review agency is solid proof, Has a 99% project reliability rating on DEXtools, and 53% of $6.8 million in liquidity locked up 1 month on the chain. So the carpet pulling is unlikely.
The coin is now also one of the top exchanges on Metamask, the cryptocurrency’s most popular Ethereum wallet. Liquidity looks high at $6.5 million, and the lock-in is for an additional six months to demonstrate the team’s commitment to the long-term development of the project.
You can buy $SLAP Mexico, best walletdirectly by swapping widgets catpaw website and Uniswap DEX. $SLAP’s market cap is heading toward $100 million, so act quickly if you want to compete with top Elvis.
Read here for some other stuff best meme coins Watching now.
Disclaimer: As always, this is not financial advice and it is best to DYOR (do your own research) before purchasing cryptocurrencies.
