Memecoins
Winnie The Pooh themed coin rises 46% while Memecoin continues to rise despite the bearish trend seen in larger cryptocurrencies such as Bitcoin, Ethereum, Dogecoin
Benzinga – A cryptocurrency focused on the adorable Winnie the Pooh The character has boosted the fortunes of its owners after making big gains lately.
What happened: POOH (CRYPTO:POOH), created solely for entertainment purposes, is up 46% in the past 24 hours, according to CoinMarketCap data. In the last week its value has more than doubled.
With the parabolic lift, the token’s market capitalization rose above $17 million. In the last 24 hours, trades involving POOH worth approximately $3.42 were executed, an increase of 17.66%. The surge comes at a time when popular currencies like them Bitcoin (CRYPTO: BTC) e Ethereum (CRYPTO: ETH) e Dogemoneta (CRYPTO: DOGE) has shown slowness.
Despite having a substantially lower valuation than major meme coins, the Ethereum-based coin’s trajectory over the year has sparked interest.
POOH exploded shortly after launch last year, but crashed soon after. It survived the bear market with little to offer until the March memecoin frenzy woke it from hibernation. Since then, its value has increased more than 5 times.
Currently, enthusiasm in the community is sky high over the proposal to burn 13 Ether of POOH, worth approximately 4.4% of its total supply. Typically, such events put deflationary pressure on the asset.
I have a draft proposal to burn nearly $2 trillion POOH