Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Stompix on March 26, 2024, 07:04:03 PM
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I know I'm old school, but I lived through 2017 and 2019 watching bitcoinwisdom, simple, fast, easy to load, I mainly check the Bitcoin price and close it, but today, I saw this and it's not getting away:
(https://www.talkimg.com/images/2024/03/26/JxiK8.png)
I think I know the story, some tokens have either just increased the supply or the price has exploded (still don't know how that would be possible when one is down 5% and the other 15%, but, anyhow, I'm curious which ones are hose cause there are 4 WST and 3 UPD, with two of them being updog!
I would have opened this in the meme subforum, but I don't even know if they are meme coins, so mods feel free to move it where you think this should be!
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I know I'm old school, but I lived through 2017 and 2019 watching bitcoinwisdom, simple, fast, easy to load, I mainly check the Bitcoin price and close it, but today, I saw this and it's not getting away:
(https://www.talkimg.com/images/2024/03/26/JxiK8.png)
I think I know the story, some tokens have either just increased the supply or the price has exploded (still don't know how that would be possible when one is down 5% and the other 15%, but, anyhow, I'm curious which ones are hose cause there are 4 WST and 3 UPD, with two of them being updog!
I would have opened this in the meme subforum, but I don't even know if they are meme coins, so mods feel free to move it where you think this should be!
This is most likely a simple arithmetic anomaly, possibly with some "manual" influence. For example, the issue of coin 1000500 billion tokens, with 12 decimal places. The price of several transactions, for example, for 1 satoshi - 1 dollar. Then we just count and "fly into space" :) Is there any data on the volume of sales of these tokens in kind?
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This is most likely a simple arithmetic anomaly, possibly with some "manual" influence. For example, the issue of coin 1000500 billion tokens, with 12 decimal places. The price of several transactions, for example, for 1 satoshi - 1 dollar. Then we just count and "fly into space" :) Is there any data on the volume of sales of these tokens in kind?
That's why I was asking because I'm not sure which one was the one that screwed the ticker.
Updog is tarded only on mexc and the same as the wsg, funny enough they have been moved to the 1000 and up places but they keep the same marketcap of 34 trillion and 250 billion.
I assume they've played with the circulating supply, but these happening for two coins at the same time hint at the same dev team being behind them.
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That's why I was asking because I'm not sure which one was the one that screwed the ticker.
Updog is tarded only on mexc and the same as the wsg, funny enough they have been moved to the 1000 and up places but they keep the same marketcap of 34 trillion and 250 billion.
I assume they've played with the circulating supply, but these happening for two coins at the same time hint at the same dev team being behind them.
I think this is just a calculation error and it doesn't affect Coinmarketcap, investors don't see those memecoins with a larger cap than the gold marketcap. Usually, tokens with strong inflation are often accompanied by a price decrease, such as XOR or FLOW.
For memecoins, team can easily do everything to mint or burn as many tokens as they want. At least, the sharp increase in capitalization right after minting more tokens also helps the token to be known when appearing in a better position in terms of capitalization on some ranking.
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I think I know the story, some tokens have either just increased the supply or the price has exploded (still don't know how that would be possible when one is down 5% and the other 15%, but, anyhow, I'm curious which ones are hose cause there are 4 WST and 3 UPD, with two of them being updog!
I just found out about this and immediately went back to check CMC. But apparently it has returned to normal. It seems like I don't know whether it's because there are really high spikes at certain times or it's a bug. But I don't know, because nowadays, sometimes meme coins or new coins can fly so big unexpectedly.
Because after that, I just checked again at CMC, everything returned to normal.
WSG is in the top position with market cap only $13,399,313 at rank #1031
https://coinmarketcap.com/currencies/wall-street-games-new/
And also UPDOG in more positions, with market cap $730,372.78 at rank #4191
https://coinmarketcap.com/currencies/whats-updog/