As meme coins continue to win over the public’s hearts and wallets, analysts wrestle with their irreverent, often degenerate appeal.
Take $Luigi, a meme token inspired by Luigi Mangione, the lead suspect in the December 4 shooting of UnitedHealthcare CEO, Brian Thompson. The coin soared to a $77 million market cap just two days after launching earlier this week, in what can only be read as a protest against Mangione’s arrest on 9 December.
Mangione has been cast as something of a hero for writing a manifesto against corporate greed and taking action in this ruthless hit-and-run shooting, which was recorded live and viewed by millions online.
In a depraved response, the Luigi coin was then launched by anonymous crypto traders, and immediately started trending on Raydium, the automated market maker built on Solana.
Hype-Coins Signal Public Sentiment
Meme coins often pop up in response to viral content, news or popular culture events, and their value can fluctuate wil
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