Recently, the meme coin market has experienced a collective decline, with the price of Dogecoin dropping to $0.31, nearly a quarter lower than last week; other popular meme coins have also seen significant drops.
However, a meme coin called Fwog Takes has crazily surged against the trend, increasing by as much as 15,900% in just nine days, making the similarly hot frog coin PEPE look pale in comparison, leaving many investors baffled.
Surprisingly, Fwog Takes (FWOG) is shrouded in mystery, with little exposure on social media and lacking celebrity endorsements. What magic drives Fwog Takes to rise crazily?
What exactly is the mysterious Fwog Takes?
A variety of frog coins, especially PEPE, have become iconic symbols in the meme world, with a large fan following.
Fwog Takes also features a frog theme, integrating humor, simplicity, and the quirky frog mascot into a unique and fun concept.
The core of Fwog Takes is to celebrate the fun and unexpected moments in life and transform them into shareable joy. Its exaggerated reactions and humorous titles reflect the chaotic yet understandable situations we encounter daily.
However, it is difficult to define what Fwog Takes really means.
Data shows that Fwog Takes was priced at $0.000003793 when it launched on December 17, and it continued to rise, reaching its peak on December 25, with a maximum price of $0.05963 and a total market value exceeding $200 million.
It is noteworthy that the media coverage of Fwog Takes is minimal, almost nonexistent, and there are no celebrities to showcase it.
Currently, the scarce information about Fwog Takes online is actually about another very similar FWOG token, but the two are completely different.
Hidden Crisis: Fwog Takes Falls into the Pit of Plunge
It is important to know that speculation is the biggest characteristic of meme coins.
Like most other meme coins, Fwog Takes experienced a sharp decline after reaching its peak.
On December 25, after Fwog Takes rose to $0.05963, it immediately fell, dropping from peak to trough, with a price of only $0.000002454.
After nearly 24 hours of darkness, as of December 27 at 14:00, the price of Fwog Takes rose to $0.0047.
Nevertheless, some market commentators suggest that if Fwog Takes can maintain its current trend, its market value could reach $500 million.
Typically, the logic behind the rise of MEME includes the following points:
1. Withstand the test of time and build a strong community consensus
Time is always one of the important tools for testing value; projects that endure longer cycles tend to gain more market recognition. Take POPCAT as an example; this MEME has not landed on top exchanges, but the community support is immense, with a market value exceeding $1.3 billion. Although its increase is not as high as other MEMEs, the number of addresses holding the coin has surpassed 77,000, making it the project with the most holding addresses among the mentioned projects.
2. Celebrity effect with viral spread potential
MEME can also be understood as the monetization of attention economy. As a scarce economic resource, the stronger a project's ability to attract attention, the more consensus it gains, and the greater its growth potential. Among these, the celebrity effect often combines attraction and viral spread, making it a key factor in the success of past MEMEs.
3. Utilizing the wealth effect to enhance attractiveness
For many MEME players, the continuous decline in coin prices has diminished their 'buy' appeal, and the MEME sector has also become a means for the community to resist VC. The higher wealth effect is undoubtedly the simplest and most direct way for MEME to attract funds and new users, especially for small-cap stock users, as they can achieve high returns at low costs.
It is worth noting that foreign cryptocurrency exchanges like CoinGecko have removed Fwog Takes, no longer displaying or trading it.
Is Fwog Takes a dark horse, or a sharp butcher knife? Perhaps time will soon provide an answer.
