Drake-Related Meme Coin WYNN: From $85M Market Cap To $1.5M—The Dogecoin And Shiba Inu Dreams Are Over
Portfolio Pulse from Murtuza Merchant
The meme coin WYNN experienced a dramatic rise and fall, initially reaching an $85 million market cap due to social media buzz and indirect endorsement from Drake, but has since plummeted to $1.5 million. This highlights the volatility of meme coins and the impact of celebrity influence in the crypto market.
September 25, 2024 | 7:03 pm
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WYNN, a meme coin, saw its market cap rise to $85 million due to social media and celebrity influence, but has since dropped to $1.5 million, highlighting the volatility of meme coins.
WYNN's dramatic fall from an $85 million market cap to $1.5 million indicates a negative short-term impact. The initial rise was driven by social media and celebrity influence, but the lack of sustained interest has led to a sharp decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100