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Omicron COVID-19 Variant Coin: Another Big Crypto Bubble

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You must have seen in the news that a new Covid-19 variant is in town and the name is called Omicron. It was named Omicron by WHO(World Health Organization) which was supposed to represent the number 15 of the Greek number. Coincidentally there is a coin called omicron that was created way before the COVID-19 variant was named, suddenly people felt the need of buying the coin.

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I thought people were used to pulling out their investment when they find something is attached to COVID-19. Like in 2020 when we first heard the Corona virus, lots of people got sentimental and started pulling out their investments from the corona beer stock. It was so obvious that the beer had nothing to do with the virus, but human sentiments couldn’t help it but had to be petty. So I was surprised to see the Omicron coin go up more than 600%.

Was there a group chat where people were like “Hey the new COVID-19 variant was named after our coin let’s go and pump that shit up real quick” and every one went and started pumping. This coin is a Defi coin on the Ethereum network, and also backed by a lot of assets including USDC. Did I mention that it’s a fork of Defi project Olympus DAO.

Due to its spike, it has made the coin which was widely unnoticed few days ago be valued. The total Max coin supply is just 1 Million having an average price above $500, giving the coin half a billion dollars in market cap.

What Are Your Thoughts On The Omicron? I know that crypto is decentralized and aiming for financial freedom but this act just shows how irresponsible people in crypto can be sometimes, from pumping shitcoins to pumping coins with a virus variant name for no reason, just for the hype of having the same name as that of Covid-19 variant. This might be a ponzi, but people will never learn to stop investing in Ponzi and start investing on coins with utility.

People are now buying coins based on temporary unnecessary trend, when Elon musk was shilling Dogecoin, some people felt it was wise to make a coin and call it Elongate, a coin about Elon and people invested in it because Elon was trending at that moment. I won’t be surprised to see that a coin called Turkey coin was created few days ago because it’s thanksgiving and people will pump it. Christmas is approaching, we might just see a *Santa Coin on the way, and of course people will pump it like crazy.

The wildest news to me is still the squid game token that lots of people bought to participate in the squid game organized by anonymous people. Can you imagine investing in a coin that doesn’t allow you exit, and yet lots of people felt the need to pump it. It’s a free market anyone can lose their money if they want, I guess?

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