The Bitcoin Price Didn’t Hit $1 Million in 90 Days as Predicted, But New Crypto ICO Copium Hit $8 Million in 5 Minutes

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Former Coinbase CTO and crypto knowledgeable Balaji Srinivasan made headlines earlier in 2023 with a daring Bitcoin worth prediction – that the flagship cryptocurrency would embark on one other bull run and hit $1 million inside 90 days.

Bullish Bitcoin Price Prediction Fails, Meme Cash Take the Highlight

Srinivasan’s Bitcoin prediction was made in March, and with the deadline on his three-month Bitcoin goal simply across the nook, he has now conceded on the wager, in keeping with Forbes. Nonetheless, curiosity in crypto has nonetheless reached a fever pitch – it simply hasn’t been directed at Bitcoin.

As an alternative it’s new meme cash which have taken centre stage, with a a lot decrease market capitalization than BTC giving them room to blow up by a a lot greater share in a shorter time frame. With a small meme token, a 5,000% achieve just isn’t unusual, which is what Bitcoin would have wanted to rise from round $20,000 to $1,000,000.

Copium Token ICO Results in Large Pump

This week Copium token exploded by a number of hundred % following its preliminary coin providing (ICO) on Uniswap, reaching an $8 million valuation throughout the house of 5 minutes. $COPIUM joins an extended checklist of meme cash hoping to be the subsequent $PEPE, which rose over 100,000% in a single month in 2023 since its personal ICO.

New Crypto ICOs vs Investing in Bitcoin

Investing in new cryptocurrency initiatives early in their roadmap, on the preliminary coin providing or preliminary DEX providing (IDO) stage – generally merely referred to as the preliminary change providing (IEO) is a excessive threat, excessive reward technique.

If a brand new crypto mission delivers on the guarantees of its whitepaper, shopping for at such an early level usually has far more potential upside in the brief time period than investing in Bitcoin. The Bitcoin worth to date in 2023 for instance, rose 87% from trough to peak – with a yearly open of $16,540 on Binance and reaching a excessive of $31,000 in April.

Early buyers that take a chance on a brand new crypto coin, from the presale or ICO stage, can outperform that fee of return in a matter of minutes, even in seconds. Whereas the Bitcoin worth is down 8% in Might, new meme cash have nonetheless been exploding, as consumers hunt down the most recent new meme crypto mission.

Bitcoin has a market cap of $520 billion, relative to new crypto initiatives which frequently launch with a market cap of effectively underneath $1 million.

The Copium Membership Challenge

Following in the footsteps of property like Pepe (PEPE), Sponge (SPONGE), Wojak (WOJAK) and Generational Wealth (GEN), which can be based mostly round recognizable web memes – recognized by thousands and thousands world wide even outdoors of cryptocurrency buyers – Copium token adopts the straightforward MS Paint fashion ‘wojak’ meme usually seen on social media together with in crypto Twitter circles.

Related to overcoming adversity or rationalizing a place – being instructed to ‘cope’ or ‘preserve coping’ – the straightforward meme is common and appeals to individuals no matter their location in the world, political opinions or native tongue. The wojak web meme has grow to be as well-known as the Pepe the frog meme, and is predicted to proceed to grown in the run-up to the 2024 US elections.

The copium.membership web site tagline is ‘how laborious are you able to cope’, and the rising neighborhood in its Copium Membership are a part of a motion. The homepage describes the mission with the introduction:

Purchased the highest, anon? Did your favourite influencer use you as exit liquidity? Have been you a part of a Ponzi scheme that left your luggage nugatory whereas others walked away with generational wealth? We really feel your ache, and we’re right here that will help you cope.

$COPIUM now has over 2,100 holders and is listed on Uniswap, MEXC, LBank and Poloniex. At present up roughly 400% from its itemizing worth, Copium token initially rose virtually 1,000%, reaching an $8 million market cap within five minutes.

Cryptocurrency ICOs Proceed to Make Headlines

Curiosity in new meme crypto ICOs was spurred on by information Tron CEO Justin Sun would start shopping for and buying and selling promising meme cryptocurrencies publicly.

Meme token mania exhibits no indicators of slowing down, seen by New York Magazine who acknowledged that property like $PEPE and $SPONGE had been even ‘inflicting large issues for Bitcoin’ – the excessive buying and selling quantity of meme cash was in half blamed for the latest community congestion points that brought on Binance to pause Binance withdrawals quickly.

It stays to be seen if $COPIUM can obtain the identical degree of notoriety, however the brand new crypto mission has a powerful backing to date, together with from cryptocurrency influencers Cozomo de’ Medici and FaZe Banks.

Go to Copium Membership Website

DISCLAIMER: This isn’t to be taken as funding recommendation. Crypto is a unstable asset, do your personal analysis earlier than investing and solely make investments cash you’ll be able to afford to lose. We could obtain fee for clicking hyperlinks in this text.