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SHRUB is a memecoin that “lives” on the Ethereum network.
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This token remains at a breakeven point around $0.05 per unit.
In the universe of cryptocurrencies, 2024 will be remembered as the year memecoins came into their own as a cultural and financial phenomenon.
Although it is not the first time that these tokens have burst onto the market, this year has shown us that a combination of humor, social networks and a good dose of speculation can attract thousands of people towards projects without major technological pretensions.
Because, let’s be honest, memecoins are not competing to revolutionize the industry; your goal It’s simpler (and riskier): make noise, gain attention, and hopefully generate profits for your investors (although most of the time they don’t succeed).
Memecoins are a game of appearances. Its value depends not on an innovative use case or a solid infrastructure, but on tweets, rumors and mentions of famous people.
And among all the famous people impacting memecoins, Elon Musk is the absolute king of the circus.
On more than one occasion, a simple message from Musk on
In fact, this peculiar magnetism of Musk has created a “crypto” subculture that seems to always be on the lookout, looking for the next keyword or emoji that will light the fuse of a new price explosion.
In this context, as CriptoNoticias reported days ago, SHRUB has emergeda token created on Ethereum that pays tribute to Shrub, one of Elon Musk’s pets. It’s a hedgehog that has unleashed the creativity of developers and investors (or “gamblers”?) alike.
The token accumulates a base of 12,000 holders which, apparently, are in “active standby” mode. Their hope is simple: that Musk posts something, anything, about his little hedgehog so that the price of the token will skyrocket.
And, in the universe of memecoins, everything moves to the rhythm of the narrative. Technological promises are relegated to the power of hype. If the SHRUB token manages to sneak onto Elon’s radar, even as a joke, history has shown that could be enough to send demand and price skyrocketing for SpaceX. But, for now, holders are tied to the ebb and flow of silence, watching as social media becomes a field of unbridled speculation.
Meanwhile, SHRUB price appears calm. Although about a month ago it shot up—precisely due to some posts on Elon Musk’s million dollars, approximately).
The following graphprovided by the DexTools platform, shows SHRUB price on the Uniswap exchange since the first days of November:
SHRUB price on the Uniswap exchange. Source: DexTools.
Meanwhile, in telegram groups and on the social network What is the source of these rumors? Probably the same wishes as these investors.
Will Shrub the hedgehog have anything to do with Tesla? – Source: X.
Is this an investment or a game of chance with touches of comedy? Maybe both.
The truth is that SHRUB perfectly reflects the spirit of memecoins: a phenomenon where entertainment, speculation and a little hope are intertwined in a mix that can be as profitable as it is unpredictable.
Will Elon Musk talk about his hedgehog? That is the question that has 12,000 people on the edge of their screens.
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