Understanding 💩coins

Crypto Education

Intermediate

Beginner

Expert

October 11, 2024

min read

Read this article in other languages

Breaking Down $DOODOO: The Rise of the First True 💩Coin on Aptos

While Bitcoin and Ethereum have recently settled around $1.2 trillion and $291 billion market caps, respectively, this stabilization at the top of the cryptocurrency hierarchy doesn’t tell the whole story. The cryptocurrency landscape is vast, with tens of thousands of tokens and coins, many of which boast the most intriguing narratives and significant potential.

The Allure of Memecoins: A Brief History

Last year, we explored the phenomenon of $PEPE, a memecoin inspired by the iconic cartoon frog. Its meteoric rise was fueled by Crypto Twitter, Elon Musk, and a passionate fanbase. After a sharp peak in April 2023, $PEPE maintained relative stability until it experienced another surge in early 2024. This pattern highlights that, despite periods of stagnation, memecoins like $PEPE can achieve substantial growth, reflecting the increasing interest in this niche within the crypto ecosystem. Learn more about memecoins here.

Enter the 💩Coin: A New Breed of Cryptocurrency

But what about 💩coins? Often interchangeable with memecoins and altcoins, these tokens feature small market caps and wild price swings. Their unapologetic lack of utility, enthusiastic supporters, and often self-promotional backers place them in a unique category. 💩coins represent the most whimsical side of the crypto world.

What is a 💩coin? According to Investopedia, a 💩coin is defined as “a cryptocurrency with little to no value or no immediate, discernible purpose.” While this term carries a negative connotation, it has been embraced by the crypto community. Some notable 💩coins, such as Dogecoin (8), Shiba Inu (13), and Floki (55), currently rank among the top 100 tokens by market cap.

The original 💩coin humorously launched with a “toilet paper” instead of a whitepaper, poking fun at the pretentiousness often associated with cryptocurrency. Initially launched on Binance Smart Chain, it boasts a supply of 21 million tokens and a market cap of approximately $144.52K.

‍

Determining whether a token qualifies as a 💩coin boils down to two main factors: how boldly it embraces its perceived uselessness and the fervor of speculation surrounding it. While all cryptocurrencies carry risk, 💩coins are typically the most volatile.

The Rise of DooDoo: Aptos' First 💩Coin

The 💩coin revolution has officially arrived on Aptos with the launch of DooDoo ($DOODOO), which proudly claims the title of the "first true 💩coin on Aptos." At the time of writing, DooDoo is valued at $0.23, with a peak price exceeding $2.25. This represents a historic milestone for 💩coins on the Aptos platform, showcasing the extreme volatility characteristic of this asset class.

Currently, the floating supply of DooDoo is about $4 million, while its fully diluted value (the market cap if every coin were minted at the current price) is approximately $10 million. There are rumors that Pontem is behind the project, although this remains unverified.

After peaking in March 2024, DooDoo's price began to gradually decline but has stabilized in terms of volatility. As of now, the number of DooDoo holders stands at 1,094. Excitingly, DooDoo is available for purchase not only on Liquidswap but also on various other platforms. Check the full list of exchanges here. DooDoo has also been integrated into the Jupiter wallet and is tradeable on Solana via the Pontem Wallet.

DooDoo enjoys robust support from an active Twitter community, including an official page.

When 💩 hits the fan pic.twitter.com/zJao0IHuxA
— DooDoo💩 (@doodoocoin) February 17, 2024

Notably, user Sadogee Nakamoto published a manifesto detailing the strengths of DooDoo. The manifesto emphasizes Aptos's potential for growth, highlighting elite safety, innovative builders, and the power of memes.

There are also DooDoo OGs NFTs, whose holders were included in a recent airdrop by Pontem and given the opportunity for a boost in recent farming activities on Liquidswap. While 💩coins generally lack utility, this is certainly not the case with DooDoo.

Is It Time to Jump In?

Have you considered diving into $DOODOO? Keep in mind that while memecoins can be enticing, they carry high risks and are susceptible to extreme price volatility. Always conduct thorough research, utilize a self-custodial wallet, and never invest more than you can afford to lose.

Stay tuned for further updates on DooDoo on Telegram and other exciting developments in the crypto space. Don’t forget to follow Pontem for the latest news.