TL;DR
- The cryptocurrency area, which typically reeks of degenerates, has struck once more. Up to now few days, a meme coin named after the bishop of Rome and the chief of the Catholic Church has exploded in recognition.
- Up to now a number of hours alone, a couple of huge strikes made the CT information, with insiders allegedly dumping, whereas one investor misplaced over $110,000 in minutes.
With exchanges equivalent to GateIo and MEXC dashing so as to add the brand new meme coin sensation for buying and selling for his or her customers, it’s no surprise that the asset’s worth shot up by a number of thousand p.c in hours. In line with some reviews, its market cap exceeded $300 million at one level earlier than it crashed.
It’s laborious to confirm this knowledge on impartial third-party knowledge aggregators, equivalent to CoinGecko and CoinMarketCap, because it’s lacking at press time. CoinGecko even says it has eliminated the POPE coin from its platform.
The meme coin’s web site claims that 35% of the 1B max provide will go to the Catholic Church. 25% might be for creators and advertising, and solely 100 million might be for public distribution. It additionally asserts that it was created “in assist of the Pope and the Catholic Church, with proceeds going to the church and its initiatives across the globe.”
“POPE was created to assist a future Pope who champions cryptocurrency and decentralization-fostering empowerment, international affect, and religious connectivity,” the web site additionally reads.
Lastly, the slogan is “a meme coin so holy, it blesses each transaction.” Undecided how blessed was this transaction by a developer or an insider who revamped $1 million in two hours by dumping tokens to the neighborhood.
The POPE insanity additionally resulted in a considerable loss for one dealer who determined to FOMO in. In line with Lookonchain, they misplaced $111,000 in slightly below 5 minutes.
Don’t FOMO commerce.
This man misplaced $111K on $POPE in beneath 5 minutes.
He spent 200K $USDC to #FOMO purchase $POPE, however proper after his buy, the value dropped sharply.
In a panic, he bought for simply $89K—burning $111K in minutes.https://t.co/R27uhqIzA4 pic.twitter.com/TkYXH5bPPc
— Lookonchain (@lookonchain) Could 3, 2025
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