- A new token, touted by Arthur Hayes, appeared on the market
- It reflects the value of the user’s Twitter account
- Memcoin went up at the start, but then rapidly declined
The memcoin L officially entered the market today, June 27. From now on, users can claim the tokens, the rate of which increased noticeably at the beginning of the day. It is noteworthy that the project was advertised by Arthur Hayes, a famous “visionary” in the cryptocurrency segment.
What is this currency?
The project appeared in mid-June.. The token is a “reflection” of the value of the user’s Twitter account. The more popular the page, the greater the potential amount of memcoins the owner can get.
The launch takes place in three stages. The first lasted from June 12 to 26. During this period the user could “reserve a place” to participate in the giveaway. Ethereum token issuance is available from June 26 to July 3.
The third stage is the integration of the project into the Uniswap ecosystem.. It is also scheduled for the end of June.
Memcoin was initially seen more as a joke. Its design and name is a reference to the character of the same name from the popular manga “Death Note.”
In 2021, Elon Musk was asked a question about who he supported – Light (the main antagonist) or L (the detective who tried to catch him). The billionaire has a preference for the latter.
The goal of memcoin developers was to encourage users to switch to a Blue Twitter subscription.. It caught the attention of the community when Arthur Hayes promoted it.”
To that end, here’s a selection of essays by this author. We recommend reading his latest work, Interchangeable.
Trading and current market conditions
When the June 27 rate of L was $0.0000201. It was up to $0.00002969 in the moment, but now it is down to $0.00001954. The current state of the market looks like this:
Even though Hayes positioned it as the “new SHIB,” the token does not seem to take off anymore. At least it is not destined to repeat the success of PEPE.