Jordán Castro – better known as twitter.com/poopie” target=”_blank” rel=”noopener”>poopco-founder of the nft Doodles project, launched a meme cryptocurrency called Poopcoin ($POOP).
Within ten hours of its launch, Poopcoin has seen significant transactions, with over $60 million in transactions recorded so far.
Poopcoin operates on the basis of the ethereum Layer-2 network and was introduced through a twitter.com/poopie/status/1774042347036197226″ target=”_blank” rel=”noopener”>quote post on x in response to ethereum co-founder Vitalik Buterin's recent opinion post on memecoins. In the post, the ethereum co-founder spoke about the memecoin ecosystem, denouncing deliberately offensive memecoins while applauding “fun, high-quality projects that add value to the ecosystem and the world around them.”
Source: poopie.ethPoopcoin's future remains uncertain
The distribution of Poopcoin was primarily through an airdrop to Doodles nft holders and select early adopters, including people who originally minted Doodles but have since sold their nfts.
Following the launch of $POOP, two wallets managed to acquire over 36% of the total Poopcoin supply, surpassing the allocation for community members and early adopters. One wallet secured 23.5% of the Poopcoin supply and distributed 20% among 95 wallets, making profits totaling $450,000 so far.
Despite its rapid rise, Poopcoin's future remains uncertain, with Castro warning that its value “could very well be worth less than zero, like a pile of fresh, steaming manure.”
According to CoinGecko, POOP is down almost 80% since its inception.
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