Under everyone’s nose, there was a virtual currency that emerged within 24 hours as one of the most sought after coin in the market, and these are the results, an astounding 310.95% gain. Currently, at $0.001267, this meme space token has attracted massive aggregates of traders and people interested in the crypto market; the token ranks #3021 in the world of cryptocurrencies.
A token known as Harold Coin, which was named after the ‘Hide the Pain Harold’ meme, has grown the market capitalization to $1.27 million. According to this, we see that the fully diluted valuation of the HAROLD token is equivalent to its market cap, suggesting that all the HAROLD tokens are possibly in floating supply. In terms of circulating, total, and maximum supply, HAROLD has solid publicity with a circulating and maximum supply of 1 billion tokens.
The value of HAROLD has risen sharply alongside an uptick in the turnover rate. The current trading volume within 24 hours, showing a very sharp interest in the site, has touched $1.75 million from a trivial $162,038, a growth of 1034.19%. This increase in volume is an indication that market players such as traders and sentimentals are now circling the token to catch a bullish ride.
Currently, the volume to market cap ratio of HAROLD is at 137.71%d which is a strong sign of high liquidity and large trading volume per its market capitalization. This number frequently indicates that a market is interested, and can be compelling to short-term traders seeking highly traded securities.
However, the idea behind Harold Coin is that the actual work has been carried on behind it, intending to offer real value to its owners, unlike many other meme-associated coins. The team has made plans on how to create use of the HAROLD token, which includes staking, games, and other utilities to enable the token to have an ecosystem. It is for this reason that the above approach could potentially have more long-term value propositions than mere speculative trading.
But like with any other cryptocurrencies, particularly those pioneered from meme culture, buyers should be careful when investing in HAROLD. What is more, the price spike along with the immense trading activity might show that this is just a speculators’ bubble. Cryptocurrencies have been notorious for being highly unpredictable and any assets which go up this fast can easily come down just as quickly.
The relatively high rise in the price of Harold Coin is not surprising because we see the same trend in the cryptocurrency market, where tokens associated with memes are very popular. Such tokens usually use the dynamics of Internet culture and word-of-mouth to reach product virality. Follow the company HAROLD brings to mind other meme coins widely known by the growing number of cryptocurrency investors in search of fun and often questionable profits.
Carrier builders in the crypto community enjoy watching the growth of their pixel fiend, HAROLD, but concerns over such exceptional revenue growth are inevitable. Will Harold Coin stay on with an image of pulling everyone’s legs and keeping the pain of the market swings hidden, or will investors be forced just to bear a smile and the pain of potential market corrections?
Until next time, Harold Coin is one of those many tokens that remind everyone how speculative and quite arbitrary the cryptocurrency market can be. HAROLD is attempting to capitalize on its newfound popularity and ultimately become more than just a meme asset that gains a sudden surge in P&Ls only to fade out into obscurity. Together with other tokens on the market, influencers, and spectators will be keeping their fingers crossed to see whether this token can keep an inches-wide smile when the going gets tough within the market, and the sentiments of investors change.
