Variant coin with the same name Omicron has soared 900% in a few days

Variant coin with the same name Omicron has soared 900% in a few days

A rather strange digital currency called Omicron (OMIC) shot up 900% as soon as the Omicron variant appeared.

OMIC coin hits a record 689 USD in on the morning of November 29th, up 945% from $ 65 on November 27th. This coin has the same name as the new variant discovered in South Africa on November 23rd.

Cryptocurrency commentator named “Mr. Whale “sees OMIC’s rising momentum as a sign that the” giant bubble “is gradually forming. In addition, OMIC’s strong rally is a reminder of the sudden surge in the Squid Game coin last month.

Recently, in the virtual currency market, many small digital coins have skyrocketed and collapsed in a short period of time. Last month, the digital coin Squid Game soared thousands of percent before crashing near zero.

This year, a number of cryptocurrencies have seen staggering gains as a bull market from Bitcoin and Ethereum to tokens and decentralized finance projects (DeFi) as well as other digital currencies spread. Dogecoin – which was founded as a joke in 2013 – is up 10,000% in the past 12 months, according to CoinGecko. The Shiba Inu – just founded in 2020 – saw a staggering 90,000,000% increase. In October alone, Shiba Inu rose 800%.

“Betting on the right cryptocurrency can make you incredibly rich,” said Antoni Trenchev, co-founder of Nexo. “The problem is that what goes up vertically often goes down again quickly. Many Memecoin investors don’t care about losses. You want to ride the rising wave. However, once the sell-off begins, investors will run away. “

Vu Hao (coin telegraph)