In the ever-evolving world of cryptocurrencies, the influence of celebrities can be a game-changer. WYNN WYNN/USD, a meme coin, saw a significant surge in mentions and popularity, reportedly with the help of renowned artist Drake.
A Sudden Rise In The Crypto World: According to social media buzz, WYNN experienced a remarkable increase in mentions over the past 24 hours, becoming the most talked-about token after giants such as Bitcoin BTC/USD and Ethereum ETH/USD. The token booked 500% gains, surging from a market capitalization of under $1 million to over $5 million in only two days.
It also registered 27 daily and 47 weekly mentions, indicating a sudden spike in interest among the crypto community.
On Jan. 12, a crypto influencer sent a tweet noticing WYNN's rapid ascent alongside a Drake-related meme.
This seemingly casual spark ignited a digital bonfire, catapulting WYNN to the top of the sentiment leaderboard within 24 hours.
Is This the Start Of A New Meme Coin Era? The surge in WYNN's popularity raises the question: Are we witnessing the beginning of a new meme coin season? Meme coins, often driven by social media hype and celebrity endorsements, have seen varying degrees of success and volatility in the past.
The involvement of a high-profile figure such as Drake can add to a token's visibility and appeal.
Whether this will challenge meme coin OGs like Dogecoin DOGE/USD or Shiba Inu SHIB/USD remains to be seen. Even on Solana, WYNN competes with popular coins such as Bonk BONK/USD and Myro, the latest meme coin star.
But several prominent social media accounts, including Traderpow, Poe_Ether, realdogen and CryptoTalkMan have discussed and promoted WYNN.
Their influence in the crypto space has likely contributed to the token's rapid rise in mentions and interest.
Read Also: Bitcoin ETFs Roar Onto Wall Street On Day 1, But Questions Linger About New Mone
A Trend To Watch: The sudden popularity of WYNN, potentially boosted by Drake's indirect endorsement, highlighted the significant impact of celebrity influence in the cryptocurrency market.
WYNN may or may not be a new meme coin star, but it will probably not be the last meme coin endorsed by a star.
Read Next: Bitcoin Hangover After ETF Party: Were Bulls Blinded By Hype?
Photos: Dogecoin, Unsplash; Drake and Shiba Inu Shutterstock
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