The world of cryptocurrency is always full of surprises, and the latest sensation is a newly emerged memecoin branded after the viral influencer NFTNick. In just three days, this token has rallied an impressive 1,136%, capturing the attention of investors and enthusiasts alike.
NFTNick, also known as Nick O’Neill, is an American NFT entrepreneur, influencer, and CEO of a media company called “The Nifty.” He has been gaining popularity in the cryptocurrency community with his catchphrase “choose rich,” which is a reference to the famous movie “The Wolf of Wall Street.” His persistent use of this phrase has gone viral, leading to the creation of a token called “I CHOOSE RICH EVERYTIME!” This token quickly reached a market capitalization of almost $80 million at its peak, and is currently trading around $38 million.
With a remarkable 1,136% three-day rally, this memecoin has outshined veteran meme coins like Dogecoin and Shiba Inu. Despite NFTNick’s strong following, he has received backlash from the community over his latest viral videos showcasing his wealth. Community notes have pointed out false claims and exaggerations in these videos, such as showcasing a rented house as his own and flaunting extravagant possessions.
The overnight rise of the NICK token has sparked reactions from other influencers in the crypto space. Big Cat and Daniel highlighted the community notes correcting NFTNick on every tweet, describing it as “beating this man to death just finding the L in every single tweet.” This trend of meme coins capitalizing on current events is not new, with the Elon Musk-themed GROK meme coin being another recent example.
In the ever-evolving world of cryptocurrency, it’s important to stay informed and cautious when investing in memecoins and other digital assets. While the allure of quick gains can be tempting, it’s essential to do thorough research and understand the risks involved. As the NFTNick memecoin continues to make waves in the market, it serves as a reminder of the unpredictable nature of the crypto space.
