Cryptocurrency world is crazy. There are always move which cannot be measured by technical indicator.
Tesla CEO Elon Musk’s tweet on Tuesday saying “I will eat a happy meal on tv if @McDonalds accepts Dogecoin”
In response to the tweet, McDonald replied ““Only if Tesla accepts grimacecoin,” ”
— McDonald’s (@McDonalds) January 25, 2022
The Wednesday’s tweet about Grimacecoin spurred the creation of nearly 10 grimacecoins on the Binance Smart Chain (BSC) network alone.
In the matter of hours, the newly created Token gain an unbelievable more than 200,000%. One example of Grimacecoin which started trading at $0.007 and peaked at $2 before pull back to around $0.60. At the time if writing, its trading at $1.20
Picture from poocoin.app
With the tremendous gain, there are people saying its scam or rug pull. Crypto space is famous with scam and rug pull project. There still valid and good project if you look and search carefully. With the tremendous gain, its advisable to exercise caution when buying into these types of token.