People poke fun at bizarre coins with the hashtag #FailedCryptoCoins.
As part of the #FailedCryptoCoins hashtag, Twitter has been bombarded with fictitious coins.
The hashtag’s goal is to inspire people to create a fictitious cryptocurrency token that never took off. Thousands of users had participated as of Wednesday morning, according to Twitter trends.
Ideas have ranged from logical tokens that have already existed (such as a marijuana-focused PotCoin) to the ludicrous. Rice cakes were recommended by one person.
#FailedCryptoCoins Dough Coin pic.twitter.com/Rdzcx9Tcm2
Pot Coins #FailedCryptoCoins pic.twitter.com/PO6aBY9ztI
May 26, 2021 — Diane (@kitawny24)
May 26, 2021 — Michael Mkerchyan (@InsolentHipster)
Bottle caps with #FailedCryptoCoins pic.twitter.com/U88ne5I4zs
May 26, 2021 — Arizona Girl (@lisamccurry2052)
Bottle caps were proposed by Arizona Girl, while “Dough Coin” was suggested by another.
The Twitter account of TooFar.TV, a Canadian comedy troupe, and stand-up comedian Tyler Morrison appear to have begun the fad.
TooFar.TV announced the hashtag in a tweet on Wednesday morning, saying it was launching it in response to the recent cryptocurrency market meltdown, adding, “It’s hard to keep up with crypto these days.”
It’s difficult to keep up with #Crypto these days, and #CryptoCrash2021 has added to the market’s uncertainties. @ElonMusk is a master of the #CryptoMarket. #CryptoTrading is in a state of disarray!
That’s why @TheHashtagGame’s #TooFarTags @TheHashtagGame with @TylerMorrison1 this week’s #TooFarTags
pic.twitter.com/HxIzZmoXBW is #FailedCryptoCoins!
May 26, 2021 — TooFar.TV (@TooFarTV)
It’s not unusual for strange cryptocurrency tokens to appear. Dogecoin, a token that employs a meme as its mascot and was created as a joke in the first place, is one of the most popular in the world.
Many cryptocurrency tokens have seen their prices collapse in the last week or two. From a high of more than $2.5 trillion in mid-May, the total value of all cryptocurrencies in circulation has dropped to around $1.77 trillion.
Bitcoin, the market leader, has been one of the most famous tokens to be affected by the decline, with it looking as though it might plummet below $30,000 at one time. According to CoinMarketCap data, Bitcoin achieved an all-time high of $64,863 on April 14.
Adrian Zduczyk, CEO of The Birb Nest crypto educational platform and co-founder of blockchain analytical firm YellowBlock. This is a condensed version of the information.