Memecoin created as a joke by investors who missed the airdrop gains, which skyrocketed by 75,000%.
I couldn't participate in the Wormhole (W) airdrop. Take the 'L' instead.
Are you one of the nearly 400,000 wallets qualified for the next airdrop of Wormhole's token W? If not, you might want to know about high-risk crypto investors on Solana who are taking the "L"—or rather, trading the token L.
Launched less than 24 hours ago by unknown entities, the Lormhole (L) token on Solana is a true memecoin: it turned a crypto trend into a token that is being traded amidst the backlash from users who missed out on the much-anticipated Wormhole airdrop. And it's seeing massive gains.
"If you missed $W... get ready to hold this $L," states the pinned post on the Lormhole account on X.
Trading at just over $0.006 at the time of this article's writing, the token has already seen a 75,000% increase in its price since its launch on Thursday (7th). Approximately 8,000 wallets have traded the token so far, according to DexScreener data, and the asset boasts a market capitalization of over $6 million.
"Lormhole is the market-leading interoperability platform powering multichain apps and bridges," reads the project's ironic bio on X"
Solana has become the hub for memecoins in recent months, thanks to its low network fees. In December, thousands of new tokens per day were being minted as traders sought out the next 1,000x pump amid the BONK surge. Now there's BONK, WIF, WEN, and several tokens based on poorly drawn versions of politicians with misspelled names.
Memecoins are making a significant impact on bringing people to the Solana ecosystem. Memecoins are not only gaining attention but are also attracting users to explore Solana's capabilities and participate in its vibrant community.
Memecoins, with their user-friendly design, quick uptake, and comedic appeal, are attracting and engaging users and becoming the football teams of crypto.
NOT A FINANCIAL ADVICE (ONLY NEWS). TAKE CARE WITH HIGH VOLATIBLE TOKENS.
#MemeCoinMania #CryptoNews🔒📰🚫 #crypto2024