Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Ethereum Forum => Ethereum News & Updates => Topic started by: Tamsialu$$ on June 15, 2022, 08:55:45 AM
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The collection’s CEO left after just three months and its average price is down 96% from its all-time high—despite signing with Hollywood mega-agency CAA. There are often hype cycles based on community interest and memes on social media, such as the Goblintown NFTs, which cost a minimum of 7.85 ETH ($14,600) two weeks ago despite an OpenSea description that is nothing more than gibberish and a community obsessed with urine and gargling into their mics (yes, really). Since then, the floor price has plunged to 3.15 ETH ($3,900), a sign the feces and urine NFT frenzy was short-lived.
Cool Cats were not safe from the fecal matter trend either. The ill poop it Ethereum NFT collection, created May 31, took shots at Cool Cats for “going to shit,” so to speak. The project created an NFT of a Cool Cat embedded in a literal pile of shit, with phrases like “Blue chip? More like 2 blue cat” and “I thought doodle was meant to be the last pussy collection.more information (https://decrypt.co/102920/what-happened-cool-cats-rise-fall-future-ethereum-nfts)
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The appearance of mem-coins is always designed for a certain hype in the initial period. Their further fate, with some exceptions, must be sad. Only a few enthusiasts will collect these virtually worthless coins. The more they become, the less attractive they will be for investment.
It should be taken into account that there are already 19,940 cryptocurrencies on the cryptocurrency market. The more there are, the tougher the competition between them will be, and above all, in order to survive, they need to have a certain utility. Meme coins cannot boast of their usefulness for their holders.