RIZZMAS crypto surged to ATH at $98 million Mcap, then fell -90%. Are Christmas coins the next trend for December, or are they doomed to be thrown away and papered over?
As the festive season approaches, it’s no surprise that we’re seeing an increase in Christmas coins. These projects, launched at the height of festive fervor, often turn into rug draws.
One coin that recently caught our attention is Rizzmas, a token launched almost a year ago for Christmas 2023. Rizzmas remained relatively quiet for most of its lifespan until a surprising surge occurred. produced just a few days ago.
Marry Christmas
#Rizzmas pic.twitter.com/Qlcwtlhs7Q
-Évelyne (@evelyn0x1) November 29, 2024
DISCOVER: The Most Popular Meme Coins to Buy in the December Meme Coin Market
Rizzmas: the curious rise and fall of the main Christmas coin
(RIZZMAS)
Rizzmas’ journey has been special. After an entire year of unimpressive performance, it saw a sudden rise, reaching an all-time high (ATH) of $98 million, an impressive +13.00% in just a few days. This sudden rise is remarkable for a coin that seems to rely on little more than seasonal hype and the spirit of Christmas memes. However, behind the scenes, there may be other things at play.
A bubble map generated via INX shows a large group of wallets with close ties to each other. This pattern often indicates a planned and coordinated movement of tokens. When examined closely, the bubble map reveals a suspicious level of wallet interconnectivity that could imply concentrated control over the supply of Rizzmas, potentially leading to artificial price manipulation.
Many members of the crypto community confirmed the suspicions, notably on X, where several users highlighted the risks of such distribution. These warnings were validated when, just 24 hours after hitting its ATH, Rizzmas experienced a steep 90% decline, hitting an ATL of $8 million. It is now back to $17 million, but it is difficult for us to see a possible recovery.
Saw #Rizzmas yesterday, I reacted a lot in a few groups. I checked it out of curiosity.
1. No pumping started, which leads to
2. Metadata unlocked and
3. HIGHLY groupedGood luck. pic.twitter.com/eHIIbO4Pgp
– VikingXBT (@VikingXBT) November 28, 2024
The rise and fall of Rizzmas underscores the critical importance of thorough research before investing, especially in meme coins that rely heavily on holiday-themed hype without substantial backing.
As the holiday season progresses, more meme coins will inevitably be released, but they are often poor investment choices. These Christmas coins tend to rise quickly in a matter of hours and fall just as quickly, making it easy to miss the perfect selling point – so be careful!
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The article The Christmas Meta Is Here: But These Coins Are More Rugs Than Gifts appeared first on .
