Some crypto meme coins that have been themed on Christmas were seen riding on festive cheer last week. Meme coins are, often, those cryptocurrencies that are inspired by popular social media jokes, sarcasm, or puns.
Let’s take a look at some of the Christmas-themed meme coins that were trading in the green last week, according to data from coinmarketcap.com. Most of these coins were launched end of November or within December and some of them do not yet have a white paper, which explains the purpose and technology of a cryptocurrency. Remember that investing in meme coins is extremely risky.
“Investors must perform proper due diligence of the project as investing in meme coins can be an incredibly risky venture and often result in massive losses through fraud, hacks and exploitation,” says Varun Singhi, partner at Master Mentors Advisory, a blockchain consulting firm.
Santa Coin (SANTA)
Santa Coin (SANTA) is a meme coin that was introduced in November 2021. Currently, it has a total market capitalisation of $1,340,832. Between December 17 and 24, the coin reached highest at $0.000000004439 and lowest at $0.000000002777, a percentage change of 59.84 per cent.
On December 24, 2021, SANTA was trading at $0.000000003311, which was an increase of 15.43 per cent in the last 24 hours on December 24.
“Investors, who don’t go through the fundamentals of coins, would take a chance to earn out of it (such meme coins), since it aligns with an event and is expected to rise. But a lot of investors later end up burning their hands. Post festive season, these coins are not of much value, as there are high chances of crashing,” says Nilesh Lalwani, founder and CEO, Bigbuc, a crypto cashback app.
Christmas BNB (XMASBNB)
Christmas BNB (XMASBNB) was launched in December 2021 and was trading at $0.0000009602 with a rise of 0.43 per cent in the last 24 hours on December 24. Between December 17 and 24, the highest price of this coin was $0.000001007 and the lowest was $0.0000008946, a percentage change of 12.56 per cent.
The total market capitalisation of Christmas BNB was $158,923, and the total trading volume was $3,766.99 which has increased by 460.41 per cent in the last 24 hours on December 24.
“Latching on to popular themes offers free marketing to creators of such tokens. These tokens might have some appeal among those who are unable to evaluate the worth or utility of a technology. Ultimately most of these end up being a flash-in-the-pan and mere instruments to prey upon the ignorance of newbies,” says Ajeet Khurana, a crypto project advisor and investor.
Baby Santa Token ($BST)
Baby Santa Token ($BST) saw a percentage change of 8.76 per cent between its highest and lowest values of 0.0000000002176 and 0.0000000002, respectively. This coin’s white paper has not been listed on coinmarketcap.com. It increased by 3.59 per cent in the last 24 hours on December 24 and was trading at 0.0000000002157.
Micro Santa Coin (MICROSANTA)
Micro Santa Coin, which was also launched in December, was trading at 0.0000000003562 on December 24, with a growth of 3.52 per cent in the last 24 hours. Between December 17 and 24, Micro Santa, saw the highest level of $0.00000000043 and the lowest level of $0.000000000339, showing a percentage difference of 26.84 per cent.
Christmas Floki X (CFloki X)
Launched in December, Christmas Floki X (CFloki X) increased 2.58 per cent in the last 24 hours and was trading at $0.00004543 on December 24.
This coin's white paper has not been posted on Coinmarketcap.com yet, and there is no market cap data available for this coin. Meanwhile, the total trading volume of CFloki X was $998.49, which increased 75.46 per cent in the last 24 hours on December 24. Between December 17 and 24, the highest price of the coin was $0.00004839 and the lowest was $0.00004397 with a percentage difference of 10.75 per cent.