- Some tokens have risen in price by hundreds of percent in a couple of hours
Users reacted to the joke about Grimascoin and issued meme-coins
We will remind you why such “games” can be dangerous A couple of hours ago, a hype broke out on Twitter around the jokes of Elon Musk and McDonald’s. The head of Tesla suggested that the restaurant accept dogecoins for payment and promised to eat a Happy Meal live if they agreed. In response, McDonald’s laughed it off with this meme: “Only if Tesla accepts Grimacecoin”
In fact, the Grimacecoin cryptocurrency is a fantasy, such a token did not exist. But it seems that now McDonald’s has become not only a manufacturer of fast food, but also the author of meme-coins. In response to the Binance Smart Chain (BSC)-only hype, users created Grimascoins.
For reference:
Anyone can issue their tokens on BSC or other blockchains. It literally costs a penny. Thanks to decentralized exchanges, meme tokens are issued instantly. On a rush, the price can rise by hundreds of percent (and then quickly fall). As a result, only speculators make a profit if they manage to buy a large number of coins cheaply and resell them expensively.
One of the grimacecoin tokens started trading at 0, dollars, and at its peak it went up to 2 dollars. That is, the temporary growth here amounted to 100 . After that, the price fell to 0.20 dollars.
Grimacecoins have appeared not only in BSC. On Ethereum, users also made such tokens and even boast that their asset has grown by 56 % in a few hours:
Unfortunately, meme-coins are significantly harm the reputation of the crypto industry. Many users do not know that this is not a real cryptocurrency, so they invest and lose money. So be careful. We tell you more about this in this video:
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