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After Arrest for Murder, $LUIGI’s Market Cap Hits $60M
The post After Arrest for Murder, $LUIGI’s Market Cap Hits $60M appeared on BitcoinEthereumNews.com. Luigi Inu, a memecoin inspired by Luigi Mangione, has hit a new all-time high by market capitalization, reaching $60 million. This market movement is in conjunction with the Pennsylvania police taking Mangione in custody for the murder. The Luigi Inu (LUIGI) token first started gaining traction following Mangione’s arrest in Altoona, Pennsylvania and charged on Dec 9. The token’s market cap reached $29 million before it rocketed higher to $60 million, after the arrest was confirmed. Originally launched by anonymous crypto traders, the token is trending on Raydium, the automated market maker built on Solana. Price chart of LUIGI/SOL showing recent trading activity, with fluctuations leading to a current price of 0.0003198 The connection between Mangione and the memecoin lies in the fact that his arrest and the subsequent media attention have significantly boosted the token’s popularity and value. Who is Luigi Mangione? According to police, Luigi Mangione, is connected to the “premeditated and pre-planned attack” killing of Brian Thompson, the CEO of UnitedHealthcare, in Manhattan. Surveillance footage also captured Luigi Mangione exiting the vicinity shortly after the gunfire erupted. Mangione also published a manifesto about disparaging things about corporate America, which added fuel to the virality of the memecoin. The problem with hype-based memecoins I am not against memes, but meme coins are getting "a little" weird now. Let's build real applications using blockchain. — CZ ???? BNB (@cz_binance) November 26, 2024 Tweet from CZ, Binance’s CEO In the wake of recent market activity, numerous new-cycle memecoins have disappointed with their inability to break all-time highs, leaving many to question the “memecoin supercycle” a phrase championed by Murad Mahmudov at September’s Token2049 conference. As meme tokens inspired by hysteria potentially cross the line between tragedy and speculation, experts caution that there are dangers in playing with such whiff-of-miracle assets. These…
The post After Arrest for Murder, $LUIGI’s Market Cap Hits $60M appeared on BitcoinEthereumNews.com.
Luigi Inu, a memecoin inspired by Luigi Mangione, has hit a new all-time high by market capitalization, reaching $60 million. This market movement is in conjunction with the Pennsylvania police taking Mangione in custody for the murder. The Luigi Inu (LUIGI) token first started gaining traction following Mangione’s arrest in Altoona, Pennsylvania and charged on Dec 9. The token’s market cap reached $29 million before it rocketed higher to $60 million, after the arrest was confirmed. Originally launched by anonymous crypto traders, the token is trending on Raydium, the automated market maker built on Solana. Price chart of LUIGI/SOL showing recent trading activity, with fluctuations leading to a current price of 0.0003198 The connection between Mangione and the memecoin lies in the fact that his arrest and the subsequent media attention have significantly boosted the token’s popularity and value. Who is Luigi Mangione? According to police, Luigi Mangione, is connected to the “premeditated and pre-planned attack” killing of Brian Thompson, the CEO of UnitedHealthcare, in Manhattan. Surveillance footage also captured Luigi Mangione exiting the vicinity shortly after the gunfire erupted. Mangione also published a manifesto about disparaging things about corporate America, which added fuel to the virality of the memecoin. The problem with hype-based memecoins I am not against memes, but meme coins are getting "a little" weird now. Let's build real applications using blockchain. — CZ ???? BNB (@cz_binance) November 26, 2024 Tweet from CZ, Binance’s CEO In the wake of recent market activity, numerous new-cycle memecoins have disappointed with their inability to break all-time highs, leaving many to question the “memecoin supercycle” a phrase championed by Murad Mahmudov at September’s Token2049 conference. As meme tokens inspired by hysteria potentially cross the line between tragedy and speculation, experts caution that there are dangers in playing with such whiff-of-miracle assets. These…
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