Poopcoin ($poop) has experienced a trading volume of approximately $60 million in just ten hours since its introduction. Despite having a market capitalization of approximately $7 million, it has been fast declining. Poopie, also known as Jordan Castro, a Doodles co-founder, introduced the memecoin on Coinbase’s Ethereum Layer 2 network Base.
The announcement, announced in a post on X and mentioning Vitalik Buterin’s latest blog, has aroused debate. Buterin opposed purposefully disrespectful memecoins while applauding ones that benefit the ecosystem.
Doodles NFT holders and early adopters, including initial Doodles minters, received Poopcoin via airdrop. Within seconds of the announcement, two wallets had acquired more than 36% of the total supply, outpacing community allocations. According to Bubblemaps data, one wallet, which now holds 20% of 95 wallets, has profited by $450,000.
Poopcoin Sees $60M Trading Volume Shortly After Launch on Base Network, Despite Controversy
Prof. Rkay Tiwari is a post graduate in Economics with specialization in International Economics & Finance and has joined Crypto SA with a skill building view in the world of cryptocurrency and blockchain. He regularly contributes latest happenings of crypto industry. He is dynamic and a quick learner with a hold on financial data analysis.
