Video creating a meme coin in 27 seconds caused a storm on Twitter

Recently, a video with the content of creating a

meme coin

posted by the artist Manifold Studio Whitelights is causing a fever on the social network Twitter.

Video creating coin meme attracts more than 1 million views

The sharing video on how to create and deploy a meme coin called Easy_Money takes only 27 seconds, quickly attracting more than 1.5 million views and nearly 10,000 ticks at the present time. Manifold Studio Whitelights emphasizes that the video is made for educational purposes and that the meme coin is only created on the testnet. Testnet is understood as an alternative Blockchain, used mainly for the purpose of testing new features without worrying about possibly harming the mainnet.

The video that created a coin meme in 27 seconds caused a storm on Twitter.

However, the creation of a coin meme in such a short time has raised many questions in the community, with some fearing that the number of fraud cases will increase. Many stakeholders in the crypto community believe that this will lead to the spread of coin memes that will eventually become “rug pulls”. This is a scam in the crypto industry, especially very common in meme coin projects, only a development team suddenly abandons a project and sells or withdraws the entire liquidity of the project causing the price of that token to “mo”.

Meme coin - billion-dollar joke in the crypto world

The coin meme has now gone beyond being a crypto joke, becoming a billion-dollar craze and playing an important role in leading new players. Meme coin is inspired by entertaining images on social networks or events taking place in reality. Meme coins were born for entertainment purposes, do not carry background technical value or solve any problems in life. The majority of people play meme coins for fun or speculation.

According to CoinMarketCap, the coin meme has seen a significant increase in volume in recent times. There have been more than 500 types of coin meme created and this number is predicted by industry experts to increase to thousands in the near future.

The price increase of PEPE and FLOKI has brought the coin meme season back to the crypto community. Recently, the world's largest

cryptocurrency

exchange, Binance announced the listing of two coins PEPE and FLOKI. It is expected that Binance will deploy 4 main trading pairs including: FLOKI/USDT, FLOKI/TUSD, PEPE/USDT, PEPE/TUSD. Immediately after being listed on Binance, the price of meme coins FLOKI and PEPE increased by about 20%. Currently, FLOKI and PEPE have decreased slightly to $0.0039 and $0.0000025, respectively, according to CoinMarketCap.

Binance thông báo niêm yết FLOKI và PEPE.

Within 1 day of this announcement, the keyword #FLOKI climbed to the top of the trend on Twitter with more than 466,000 tweets, on par with other hot keywords like #memecoin, #doge, #crypto . The

FLOKI coin

also gained more than 75%, reaching $0.0005, before returning to the current level of $0.000039. FLOKI has a market capitalization of approximately $400 million, which is quite high in the meme coin group.

Floki on Coinmarketcap

Currently, there are 10,000 people holding Pepe token, showing that it has been interested by investors and has high expectations in the crypto market. According to data from CoinmarketCap, PEPE's market capitalization reached 1.27 billion USD, ranking 41/23,880 cryptocurrencies in the market. PEPE's trading volume also reached $2.648 billion/24h, surpassing both SHIB ($136 million) and DOGE ($340 million).

“Coin memes emerged as a trend and are now making up a large part of the crypto auction scene, whether we like it or not,” said James Wo, co-founder of global blockchain investment firm DFG said.

Pepe on Coinmarketcap

Before PEPE and FLOKI, “elder” SHIB (Shiba Inu), DOGE (Dogecoin) have been “grown up” for a long time in the list of crypto memes. The appearance of PEPE and FLOKI makes many investors expect to keep up with the development of the “older sister class”. Shiba Inu launched in August 2020 and quickly increased in value by 2,000,000% to reach a record price in May 2021. Before Shiba Inu, the most famous coin meme in the crypto community was Dogecoin, which was developed by Jackson Palmer and Billy Markus in 2013 as a joke. At its peak, Dogecoin reached a market capitalization of 90 billion USD and ranked in the top 5 of the market capitalization rankings in January 2021. Currently, DOGE is trading at $0.075, ranking 8th in the market with a market capitalization of over $10 billion.

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