After entering the crypto space, Meta (formerly Facebook) struggled to stay afloat as the company lost $251 billion in value in 24 hours and its share price fell 28.69% from the previous month. Employees try to figure out their priorities and decide if it’s time to quit. But given Meta’s entry into the crypto space, what are the implications of these actions for the industry?

Tokens that follow the rising META trend

CoinMarketCap has highlighted some of the top bulls leading the META wave. These include Metaverse Future (METAF) up 1711.44% in 24 hours, Meta City (METACITY) up 275.13% over the same period and MetaPay (METAPAY) up 206.52% in a single day.

Source: CoinMarketCap

However, it is worth noting that none of these tokens make the top 100 or even the top 500 tokens by market cap.

So what’s going on here? The answer could be due to the meta trend. In particular, token creators hoping to monetize traffic use meta and meta topic names to promote their own products.

Also, this can be a confusing strategy for new investors who may still not understand the difference between Meta (formerly Facebook) and Metaverse tokens like AXS or MANA.

For example, a user tweets via MetaPay and posted a clip of the Facebook boss:

“The MetaPay Global demo is now available on the website. MetaPay is a token used to buy and sell packages and avatars in an augmented reality friendly virtual environment and then converted back into a MetaPay token.”

On the other hand, investors must also verify the validity of these tokens before deciding to join the group. Looking at the METAF, for example, it can be seen that the recent increase of 1711.44 percent compared to the price in January 2022 is hardly significant.

METAF .Price Chart | Source: CoinMarketCap

Regarding METACITY, the token website was created on January 29, 2022. Simply put, the project was born less than 10 days ago.

The source: ICANN search

Speaking of METAPAY, the token went from top gainer to biggest loser in less than an hour. At press time, it has lost 91.39% of its value.

METAPAY price chart | Source: CoinMarketCap

The sun will never set on the meme empire

Although the trend of interest in meme coins, touted by Elon Musk, is gradually shifting towards meta- and web3-themed coins, the power of dog coins is still very great. One of those who continue to outperform the price increase is NinjaFloki (NJF) with a gain of 648.15% in 24 hours.

However, as previously reported on NJF, the BNB/NJF price has been in freefall since the beginning of this year.

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