• Bitcoin impersonator “BITCOIN” has seen a 300% surge in value over the past week, mostly on UniswapV2 on Ethereum.
• “BITCOIN” is actually the ticker symbol for HarryPotterObamaSonic10Inu (ERC-20), a meme token launched in mid-May.
• It trades for $0.067 at writing time, with an estimated market cap of $66 million.
What is BITCOIN?
BITCOIN is a relatively new meme token with the ticker symbol “BITCOIN”, which incentivizes the creation of novel and entertaining meme content. It was launched in mid-May and runs on the Ethereum blockchain as an ERC-20 token.
Recent Price Surge
The value of BITCOIN suddenly began to rise starting last week, from just $0.015 on July 13 to a high of $0.09 on July 20 and currently trades for $0.067 at writing time, with an estimated market cap of $66 million. This represents an impressive surge of over 300% in value within one week’s time frame!
What Caused The Surge?
It is likely that this sudden surge was caused by its similarity to Bitcoin, as well as its ability to be traded easily through UniswapV2 on Ethereum without incurring any taxes or fees. In addition, it has been gaining popularity due to its potential use as a means of launching meme tokens on the actual Bitcoin (BTC) blockchain through BRC20 tokens.
Where Can You Trade BITCOIN?
Currently, BITCOIN can be traded mainly through UniswapV2 on Ethereum – generating over $14 million in daily volume at writing time – or through decentralized exchanges such as PancakeSwap and 1inch Exchange where users can trade crypto assets without having to pay any taxes or fees involved during transactions.
The success story behind BITCOIN’s recent price surge shows how powerful memes can be when it comes to influencing investor capital – especially those who are looking for innovative ways to make money in cryptocurrency markets without having to incur significant risk or costs involved during transactions!