The $Luigi meme coin continues to feed off the hype around the story, but like most news-based meme coins, it’s highly volatile and has dropped to $29 million at the time of writing. Dark Energy Powers Meme Coins Similarly, coins like Catslap engage the public’s secret desire to perhaps b*tchslap some powerful people, as featured in the $SLAP website. These meme coins demonstrate that public anger can be funneled to send a token to the moon, but also, that acting on heated emotions may not be the best bet. That’s because, the more charged the issue, the more volatile the value, as we have seen with $LUIGI falling as fast as it rose.
The coin soared to a $77 million market cap just two days after launching earlier this week, in what can only be read as a protest against Mangione’s arrest on 9 December. Mangione has been cast as something of a hero for writing a manifesto against corporate greed and taking action in this ruthless hit-and-run shooting, which was recorded live and viewed by millions online. In a depraved response, the Luigi coin was then launched by anonymous crypto traders, and immediately started trending on Raydium, the automated market maker built on Solana.
Hype-Coins Signal Public Sentiment Meme coins often pop up in response to viral content, news or popular culture events, and their value can fluctuate wildly, reflecting public sentiment towards these topics. While many are based on fairly innocuous memes, like dogs, cats and frogs, others are fueled by darker tropes, such as murder, suicide, cancer, or even swastikas.
The story "Lessons from $LUIGI as $SLAP Gains 220%" has 650 words across 49 sentences, which will take approximately 3 - 6 minutes for the average person to read.
Which news outlet covered this story?
The story "Lessons from $LUIGI as $SLAP Gains 220%" was covered 1 days ago by NewsBTC, a news publisher based in United Kingdom.
How trustworthy is 'NewsBTC' news outlet?
NewsBTC is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United Kingdom and publishes an average of 3 news stories per day.
It's most recent story was published 16 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Negative, indicating that people regard this as "bad news".
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
