Will Smith's slap and the wildness of the coin meme

 Ryan Watson, a 29-year-old cryptocurrency investor in New York, didn't watch the Oscars, but was


Watson went to bed as the 2022 Oscars took place, where Will Smith caused controversy for slapping Chris Rock. But two days later, the event interested him in another way: it spawned a coin meme, named Will Smith Inu.

The fact that this cryptocurrency was created after the actual slap is not surprising. By definition, a coin meme is a cryptocurrency associated with viral images, moments, and Internet jokes with short-term value, often tending to rise or fall rapidly. There are also some like Dogecoin and Shiba Inu that are long-lived, accepted for payment by Tesla or GameStop. Even so, most are seen as a risky investment without any clear purpose.

Early participants can still make a hefty profit. That's why two days after the 94th Academy Awards, Ryan Watson bought a $5,000 worth of Will Smith Inu. The coin had a trading volume of up to three million USD but dropped to almost zero after just one week. The short-term price increase actually presents an opportunity for investors like Ryan Watson, who has already made $20,000 in cash.

"Fear of money doesn't make money," says Watson.

But at the rest, thousands of people are facing the wild world of meme coins as they struggle to recover their initial capital.
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