Analysts highlighted a cryptocurrency whose market capitalization increased by $ 300 million per day

Editor’s note: not financial advice!

On the morning of March 30, the founder of cc0 NFT MFER under the pseudonym Sartoshi launched the mfercoin token (MFER) on the Base network. The market value of this digital currency exceeded the $ 300 million mark in record time in just one day.

Quotes of the little-known MFER cryptocurrency fell by 20.4% in a day, settling at $ 0.162. The total supply of MFER tokens circulating on the market is $ 192.46 million. According to Dextools, the market liquidity reached $ 32.01 million, and the number of asset holders exceeded 26,000.

The highest price of mfercoin (MFER) was recorded at $ 0.2636 on March 31. For comparison, the current price of the token is 39% lower than the historical maximum. In less than a day, the trading volume of the digital asset reached $ 180.16 million.

According to Foresight News, the MFER token has a fixed supply of 1 billion and was not subject to pre-sale at launch. The MFER whitepaper shows that approximately 20% of the total token supply is distributed to thousands of wallet addresses in the mfer ecosystem, including owners, artists, and the community treasury. The remaining 80% is merged with ETH and added to liquidity pools.

According to experts, memmos are not recommended assets for an ideal crypto portfolio. This class of cryptocurrencies lacks strong fundamentals to sustain any acquired demand in the long run. Financial experts typically describe the risks of speculating with memtokens in accordance with the «Great Fool’s Theory».

No Worries strongly advises readers not to invest in dubious crypto projects and little-known digital assets!