Beercoin (BEER), a meme coin on the Solana blockchain, witnesses immense volatility due to
whale manipulation and speculative trading. Though seen as a potential
next big Solana meme coin, it experienced a drastic
70% plunge in value, followed by a remarkable turnaround surging 11% to achieve a
$400M market cap after a burning event. However, massive selloffs by a team-linked wallet and concerns over a potential
rug pull caused Beercoin to face turmoil, and its price plunged
60% in a week. Despite hitting an
all-time low, signs of manipulation suggest a possible rebound with analysts noticing an uptick in the number of holders. The crypto also had brief moments of recovery, with prices soaring up to
67% and 84% within 24 hours, however, subsequent declines suggest consistent instability, synonymous with its
meme status. Another component,
Baby Beercoin (BBEER), saw immense volatility with pump and dump activities, while new meme coins emerged. However, the promotion of Beercoin by celebrities like Mr. Thank You sparked interest, while comparably, the coin outperformed Bitcoin in social traction. Despite bearish undertones, potential for a comeback and strides in the Solana ecosystem still places BEER among the
crypto projects to watch.
BeerCoin News Analytics from Mon, 04 Mar 2019 08:00:00 GMT to Sat, 22 Jun 2024 14:09:09 GMT -
Rating -8
- Innovation -5
- Information 5
- Rumor -3
