TL;DR Breakdown
• Joe Exotic of Netflix fame to endorse Tiger King crypto.
• The cryptocurrency is similar to scalable tokens like Dogecoin.
Tiger King’s fans can now invest in a crypto coin. This 2020 miniseries on Netflix has inspired a cryptocurrency, and it’s increasing in price surging close to 1,000 percent.
What is the Tiger King coin?
Tiger King is a cryptocurrency and a meme token of the Ethereum Blockchain, launched in May 2021 taking inspiration from the Tiger King series on Netflix. It is believed that the crypto has the support from Joe Exotic, the actual zookeeper in the famed Netflix series.
Joseph Maldonado-Passage, the real name of Joe Exotic, was in jail for 22 years for attempted murder. According to some investigations, Joseph contacted someone to kill Carole Baskin, who was an animal activist.
Exotic is said to have a certain percentage of Tiger King’s total supply. The idea behind the tiger king coin price rise is to help him pay off medical and legal debts. As indicated by the official cryptocurrency website, each purchase will increase the value of Joe Exotic’s holdings.
The cryptocurrency was launched a few weeks later after Carole Baskin’s crypto $CAT was announced.
Why did the Tiger King Token surged 1,000?
According to CoinMarketCap, Tiger King is trading at $0.000009636, which means a 55 percent surge in 24 hours. The crypto reached its highest value today at $0.00001037, but it has had a slight drop in its price.
The token has relied on the publicity given by Matt Wallace, a famous Youtuber who has the second second-largest holding in Tiger King coin.
Hargreaves Lansdown investor analyst Susannah Streeter said crypto Tiger King traders should take advantage of the upside. Streeter suggested that influencers on social media are generating this momentum in token price.
However, in this decentralized business, the investors must be aware of any upcoming downfall. This explains the ups and downs Joe Exotic had in his popularity. The senior analyst also said that many tokens are having a great moment due to social media. However, the Joe Exotic token is likely to shine among the cryptocurrencies.
Exotic’s cryptocurrency faces bigwigs like Dogecoin, which has a strong backing from Tesla CEO Elon Musk. Doge increased its value last week, trading today at $0.23532, with an increase of 2.99 percent in the last 24 hours. Musk also supports token swaps where he will attempt to reduce encrypted transaction fees by 100 times.
Bitcoin is trading above $34,000 with a slight increase of 2.03 percent in less than 24 hours. Cryptocurrencies meet another week with a not so volatile price trend in the market. Exotic’s token could be passing through a price bubble just like Shiba Inu faced a few weeks ago.
