06.04.2024

Poopcoin is worth millions after a giveaway from the creator of Doodles

Poopie, co-founder of Doodles, also known as Jordan Castro, has launched a memcoin called Poopcoin, ticker $poop. Since its launch ten hours ago, at the time of publication, $poop has already changed hands for nearly $60 million, and the memcoin has a market capitalization of about $7 million, though that figure is rapidly declining throughout the day.

Poopie announced the coin on X as a quote from Vitalik Buterin’s recent blog, in which the Ethereum co-founder shared his thoughts on the memcoin ecosystem, condemning intentionally abusive memcoins and praising “high-quality entertainment projects that positively impact the ecosystem and the world around them.”

Memcoin has been passed on to the owners of NFT Doodles and some other early users, such as anyone who created the original Doodle, even if they have since sold NFT. The memcoin, which Castro warns “may well be worth less than zero, like a fresh, steaming pile of manure,” was created on Base, an Ethereum Layer 2 network created by Coinbase.

According to analytics company Bubblemaps, moments after Poopie’s announcement, two wallets managed to purchase more than 36% of the coin’s total volume, exceeding the 15% allocated to community members and early users.

One wallet, which managed to acquire 23.5% of the coin’s supply, still holds 20% across 95 wallets. According to Bubblemaps, they have made a profit of $450,000 USD so far.

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Коля Мельниченко

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