Even as the cryptocurrency market is making a fits-and-starts recovery, one micro coin is running up sharply on Sunday.
Elon's Marvin MARVIN/USD is trading up over 4,000% and has been the top gainer among the cryptos in the past 24 hours, according to data provided by CoinMarketCap.
Elon's Marvin is a relatively new token powered by the Binance smart chain and Ethereum. It was founded on Oct. 11 and is inspired by Elon Musk's Havanese pet dog Marvin.
The project is apparently trying to capitalize on the frenzy associated with Musk. It is likely aiming to take on Floki Inu FLOKI/USD, which is named after Musk's other pet dog – Floki.
About 2% of each Elon's Marvin sale will be put into a wallet, which will distribute Marvin rewards to holders, and 4% of every transaction will be added to liquidity. This will likely help keep the floor price of the token relatively high and limit big selling, the project said on its website.
There is a maximum supply of 19,696,657 MARVIN coins, and the crypto reached an all-time high of $0.65 on Nov. 1.
At last check, Elon's Marin was up 4,240.85% at $0.2256. Since it began trading, the crypto is up 240%.
Related Link: What's Going On With The Crypto Market This Weekend
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