After The Oscars, A New Will Smith Slap Token Explodes 10,000%.

The value of a newly created cryptocurrency inspired by Will Smith’s slap during the 94th Academy Awards has skyrocketed over the previous day.

Despite the apparent lack of a link between cryptocurrency and the Will Smith’s slap that “felt” around the entire world, newly issued crypto assets appear to have generated some nice returns.

Shortly after the Oscars, the “Will Smith Inu” (WSI/USD) began trading on the Uniswap UNI/USD decentralized market.

Following the live assault, the Ethereum-based Will Smith Inu currency “exploded” to a 10,000% rise, with a $3.65 million trading volume.

The coin, however, has now lost the majority of its value. The token was still up 286% as of Tuesday morning.

On the OpenSea marketplace, the Will Smith slap has also been converted into an NFT collection. So far, “Will Smith Slap DAO,” an OpenSea user, has sold 730 tokens for between $7 and $300 apiece.

Meme-coin creators have regularly benefitted quickly from current trends due to the simplicity with which a blockchain-based digital asset may be produced using the ERC-20 or BEP-20 token standards.

On this case, the token’s developer is said to have made around 10 ETH ($33,000) while investing 4 ETH ($13,200) in contract creation and early liquidity.

Last year, a token based on Netflix Inc’s NFLX Squid Game had a similar rise and fall in value. The token’s price increased by 83,000% before plummeting to zero, despite the fact that it was clearly a scam.

Meme-coins Following Tesla CEO Elon Musk’s tweet about dubbing his dog “Floki,” Shiba Inu (SHIB) and Floki Inu (FLOKI) prices have risen considerably.

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