The "Shen Teng" concept coin is here again, can it still replicate the rhythm of last year's Spring Festival Gala?
Actor Shen Teng probably never expected that one day his name would be associated with an encrypted copycat project, and a brand new sector would be born from this - "Shen Teng" Spring Festival Gala Concept Coin.
Last year on CCTV’s Spring Festival Gala,Shen Teng's phrase “Doge King” (狗王) made a copycat project with the same name rise 800 times overnight, making headlines on social media. Now that the Spring Festival Gala is approaching, the "Shen Teng" concept coin strikes again.
According to the list announced by the CCTV Spring Festival Gala program group, the sketch performed by Shen Teng's team in 2023 is called "The Pit". So in the past few days, a series of fake projects named after "keng" have sprung up, mainly concentrated on the BSC chain.
According to ave.ai data, there are currently more than 50 projects with the same name as "keng". More sophisticated projects will add a "Shen Teng" avatar to their tokens, and create their own Twitter and DC; most of them are BSC default avatars, without any social media, and adopt the strategy of "willing to take the bait".
From the perspective of project transactions, the project with the most currency-holding addresses already has 1.017 million people, with a liquidity close to 50,000 US dollars, a maximum increase of nearly 30 times, and a transaction volume of 3.38 million US dollars in the past 24 hours; the other projects generally hold currency addresses in It ranges from dozens to thousands, and the transaction volume is less than 10,000 US dollars.
In order to allow some friends who are not quite standard in Mandarin to "enter the pit precisely", some organizers also "intimately" created a copycat project called "ken", but the transaction volume is only a few hundred dollars, and the currency holding addresses are less than 100 people , basically for self-entertainment.
In addition, based on the concept of the picture of Shen Teng lying down, he created the "tangping" (laying flat) project, and used the name of airdrop on social media to pull people's heads into the community for marketing. According to ave.ai data, currently the "tangping" project has the largest number of addresses with 301,000 currency holdings, a liquidity of 18,000 US dollars, and a 24-hour trading volume of 184,000 US dollars, with a maximum increase of nearly 15 times.
After "tangping" became popular, another group of counterfeit projects under the name of "fendou" (struggle) emerged. Among them, the most popular project currently has 1.154 million currency-holding addresses, the highest increase is nearly 20 times, and the 24-hour transaction volume reaches $1.52 million.
The rise of a series of "Shen Teng" concept coins has also impacted various zodiac concept coins featuring rabbits this year. The popularity of the latter has dropped significantly, so that no one cares about it.
Odaily has observed that the enthusiasm of crypto investors for trading the "Shen Teng" concept currency continues to rise, and the slogan "surpassing the "dog king" by 800 times" resounds in all major communities. "Strategy, each project invests 10 USDT (known as 10 U Ares) in order to obtain excess returns.
However, judging from the market trend, some concept coins have already begun to harvest users, and today’s decline is generally more than 50%. Odaily kindly reminds you to invest cautiously and not to be impulsive.
