Tag: Grimace Coin

Influencers and massive organizations wield enormous power and influence in the wild west of MEME currencies. A single tweet or comment may rocket the next great thing into the public, transforming a MEME into a genuine, true coin.

About Grimace Coin

The coin was created on January 25, 2022, when Musk tweeted that he would “enjoy a happy meal on live TV if they started accepting Dogecoin.” This has happened previously. Musk’s tweets have previously caused the price of Bitcoin and Dogecoin to climb and fall. But what prompted the birth of GrimaceCoin?

In response to Musk’s amusing offer, McDonald’s responded that they would do so provided “Tesla began accepting Grimace Coin.” It’s worth emphasizing that the currency did not exist at the time; this was all part of McDonald’s hoax. However, we no longer live in such times. The market recognized an opportunity, and soon long, Grimace Coin was born, with Binance Smart Chain serving as the basis.

Grimace was a character created in the 1970s for McDonald’s commercial efforts. Since then, the large, purple figure has made infrequent appearances, including at an MLB game in 2012 and the 2020 Macy’s Thanksgiving Day Parade, when he will share a prime place with McDonald’s poster boy, Ronald.

Most recently, the fast-food corporation reintroduced Grimace to appear in promotional advertisements for the 2022 Super Bowl, one of the world’s most costly and treasured commercial real estate sites. The reintroduction of Grimace has aided in increasing the coin’s value and popularity among the crypto community.

New Developments

Despite the coin’s beginnings, the project’s NFT collection apparently sold out in a flash. Grimace Coin claims in a tweet that 1,000 NFTs were sold in 7 hours and 20 minutes at a price of 0.3 BNB apiece. This astounding performance demonstrates the strength of so-called meme coins,’ as well as its potential to give investors with exceptional ROIs.

Grimace Coin has declared in their Telegram group that they are set to begin full-time development of the metaverse. P2E (play to earn) mode will be implemented (you will be able to earn Grimace Coins via actions within the Sandbox game). Every NFT holder will receive a complimentary vehicle to the game. NFT holders can then sell the car to other people in the marketplace. NFT Holders will get private access to VIP areas in the game.

The project is currently being audited by blockchain security firm CertiK, which ensures that code is up to standard.

This is a crucial element for any project, let alone a MEME coin. CertiK offers an excellent solution, having already secured other popular projects, such as Binance and Huobi. The firm identifies vulnerabilities and provides valuable solutions to sure-up those potential system weaknesses.

Yesterday we saw another antic of Elon Musk, the billionaire who has been known for his takes on the crypto market. He has been an avid supporter of Dogecoin which he has shown now and then through his tweets regarding the coin and even allowing Tesla to accept Dogecoin as a form of payment for buying merchandise with McDonald’s replying about Grimace Coin.

Yesterday Elon Tweeting about eating a happy meal live if McDonald accepts Dogecoin as a payment method. Of course, we saw a sudden increase in the price of Dogecoin, and a fast wick upwards was seen in the price. The price jumped from $0.14 to $0.15 within moments. Eventually, the movement dialed down. Now we would have expected the joke to end here until McDonald’s themselves tweeted back “only if @tesla accepts grimacecoin”.

What was funny is that no grimace coin existed. Opportunistic saw this as a moment and quickly resorted to computers and quickly created new coins on the BSC network. With the availability of  DEX, anyone can create a token and launch it on the platform at that very moment. Liquidity was provided and we saw many new grimace coins in the existence.

One such coin was created on the BSC network that launched at the price of $0.0007 and the price went up to $2 during Asian Hours. Afterward, it dropped down to the price o $0.60. The token had reached the market capital of $2 Million. This was a jump of about 285,000 times.

Another Grimace token on Ethereum was also created that had jumped 56,000% since its launch. Not all of them were successful as well. There is one that only had a market capitalization of about $1400. The Crypto market is filled with serious developers and people who work hard for the success of the market. At the same time, we have seen developers create shitcoins purely based on community and hype regarding a certain word. This isn’t the first time, that something like this has happened, back in December, US Representative joked about a mongoose coin in a hearing and ultimately we saw many new mongoose coins that sprung up. Most successful of this jumped to a market cap of tens of millions. Even though the price has dropped more than 90%. These dog coins, meme coins have billions of dollars poured in, purely based on speculations.