Unusual ‘LONG’ Token Surges 9,237% in a Day: Could This Hidden Crypto Gem Be Next?
An unusual new meme coin called FuZangLong token has arrived with a bang on Ethereum DEX markets, and markets are in awe of the LONG token’s jaw-dropping +9,237% gain on launch.
This article will provide an analysis of LONG’s current price trends and look to see whether a newer meme coin, Bitcoin Minetrix, represents a more promising investment opportunity.
In a hint to the token’s mysterious origins, in Chinese mythology, Fuzanglong is an underworld dragon that guards vast trots of treasure and creates new volcanos when it bursts out of the ground to report back to Heaven.
We are now listed on @coingecko !https://t.co/h3kN6lAKpU
— FuZangLong (伏藏龙) (@fuzanglong_io) February 9, 2024
The token’s explosive popularity breaks a recent trend that has seen a huge shift in meme coin trading from the over-priced and sluggish ERC-20 network over to the Solana blockchain.
Despite a dramatic launch, Fuzanglong token is currently trading at a market price of $0.0000001594 (representing a 24-hour change of -93.93%).
The defiant retreat comes as volatility breaks to the south, and early backer’s take profit on the explosive move, triggered upon LONG’s listing Yesterday at 12:00 (UTC).
From an initial launch price of $0.00002550, LONG price shot-up across 7-hours to post a new all-time high at $0.00004650 around 18:00 (UTC).
However, early backers took the opportunity to escape with significant profits at a time of low gas fees, and this triggered a catastrophic cascade to the downside.
Indeed, LONG price action has fallen so dramatically that trading is now at levels below the initial launch price, resulting in as many as 426 holders left underwater.
The image worsens when LONG price analysis factors the meagre $52.24k liquidity pool into play,
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