The market is sluggish and chaos abounds. How outrageous are the recent memes?
This week, chasing memes and earth dogs continued to be the main theme of the retail market. At the rate of a new hit almost every day, meme coins are rapidly born, popular and dying.
On Monday, Bitcoin hit a peak above $28,400, which is also the highest point of BTC this week. It fell again in the next few days, and the whole is still in the box shock. With the overall downturn in market sentiment and the lack of innovative hotspots, ordinary investors mostly hope to find the next PEPE.
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WFAI: Online Rat Warehouse, KOL and community promotion on time
On Tuesday, information on the chain showed that DWF Labs purchased WFAI tokens. As soon as the action was discovered, it quickly spread in various communities.
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In this operation, DWF Labs invested 20 ETHs to purchase WFAI, and WFAI tokens also became a meme rookie in the market and were able to rise rapidly.
In just one day, WFAI rose from around $0.0000001 to around $0.0000006, an increase of about 6 times in one day. The quick market pull and institutional support made it a moment of limelight, and more investors began to enter the market, looking forward to creating the next meme myth.
However, things soon ushered in a change.
Some news circulating in the community questioned that WFAI is a fraudulent "rat warehouse" project. As early as the day before DWF purchased WFAI and caused the skyrocketing price, some communities had spread the news that DWF had quietly purchased WFAI.
In addition, on the evening of the 29th, several KOLs jointly released information about the token at the same time. For a nascent meme project that no one cares about, people have to suspect that there is a team behind the project. Twitter users even found that WFAI's holdings are highly concentrated.
According to the token economics announced by WFAI, 95% of the supply will be allocated to LPs. But shortly after WFAI went live, 4 new wallets spent a total of 14.4 ETH in four transactions, buying up to 647 trillion WFAI, accounting for about 83.2% of the total supply.
But soon, the project side also responded to this.
On Wednesday, the WFAI project party stated that the contract deployer has blacklisted some profit-making addresses. This move includes the first 4 addresses that purchased WFAI and the 11 addresses that flowed therefrom, totaling 649 trillion WFAI, accounting for 83.54% of the total supply. Additionally, the trust score for DEXTools went from extremely low to extremely high in a matter of hours.
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LOVE: So love will disappear, right?
WFAI is just one of the cases of the local dog craze in recent days, and the airdrop discussion triggered by LOVE is also a rather dramatic topic this week.
In the morning of this week, I opened Twitter and browsed around. It seems that the whole network is receiving LOVE airdrops. The airdrop of LOVE has once again attracted the carnival of the wool party, and its loose airdrop policy even allows some players to harvest a large number of addresses that are difficult to count at one time.
When the price is best,The value of the airdrop received by an account is about $150,And the cost it pays is only a transfer gas fee.
Different from the anonymous meme coins of many issuing teams, LOVE is issued by Twitter KOL@M4573RCH. On May 20th, he tweeted: "No pre-sale, no public sale, please send 0 ETH to the designated address, do not send any funds." This is also the initial way to obtain LOVE, as long as you submit to designated addressInitiate a transfer of 0 amount, only need to pay the gas fee to get air investment qualification.
The mechanism design of LOVE is also sought after by some people, and the token has its own fission property.
If the user wants to interact with the LOVE contract, at least one LOVE must be held in the wallet to proceed. This means that if you want to buy tokens, you must first seek a LOVE from a user who already has LOVE. In order to help users solve this problem, some CEX has launched LOVE spot trading on the first day.
Because of its unique mechanism and airdrop effect, LOVE became popular for a while and quickly became a new meme hotspot.
While everyone was still immersed in the joy of the airdrop, the project party threw out the "King Bomb", which caught the wool party off guard.
It was only the second day of the airdrop, and the data on the chain showed that many wool addresses that collected a large number of LOVE airdrops had been blocked by the project party.
After LOVE went through a very short carnival, what is the direction of the currency price?
DEXScreener information shows that the current currency price of LOVE has fallen to less than one-tenth of the high point on the first day of trading, and its currency price is very bleak.
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I, PAULY, play money
Of course, the short-term explosion of LOVE may be just an accidental meme. And even more amazingly,LOVE pioneered a new meme model - the "0 turn" model.
On the first day of LOVE's launch, the "0-turn" meme coin on the ARB chain immediately appeared. Similar to LOVE, users need to initiate a transfer of 0 ARB to a designated address, and then they can obtain air investment qualifications. In just two days, there have been many imitation disks at 0-rev.
The most exaggerated among them is the unnamed project initiated by Pauly, the founder of NotLarvaLabs.
NotLarvaLabs was briefly popular during the NFT frenzy of the last bull market, and its Crypto Punk imitation project Crypto Phunk once sparked heated discussions.
When other projects were still at "0 transfer", Pauly posted a tweet, imitating LOVE's transfer, Pauly directly called on netizens to "send ETH" to him, and it was not a 0 amount transfer.
Data on the chain shows that in just one day, PAULY has harvested an astonishing amount of more than $1 million in Ethereum.
As of the release of this article, its designated address has received a total of about 9,800 transfers.A total of 663 ETHs were received, with a current price of about $1.26 million.
However, Pauly himself did not make any explanations, plans, or commitments to this project.We don't even know the name of the project yet.The crazy meme market has become increasingly difficult to understand.
I still remember that at the beginning of May, the emergence of BRC-20 gave the market a new hot spot. And the meme soil dogs from ERC to BRC were staged in turn. After just one week of madness, the meme trend dived from the peak.
Just like the scripts staged in each previous round of copycat seasons, accompanied by the skyrocketing meme, a large number of "running away" and RUG scams are constantly happening. Since the beginning of this week, popular memes have emerged and changed rapidly, and their lifespan has become shorter and shorter. When investors participate in meme hype, they need to beware of various risks. Memes that are highly uncontrollable and lack basic information make authenticity and security even more unpredictable.
The purpose of the project model mentioned in this article is to identify routines for the majority of investors, and do not blindly FOMO, DYOR.
