GHIBLI Memecoin Explodes! Then Plunges 50%! What’s Next?

Since the launch of the Ghibli, an advanced product of Sam Altman-led OpenAI’s ChatGPT-40, it has taken over the internet. Notably, well-known personalities such as Michael Saylor and Elon Musk led the trend by positing and promoting the Ghibli trend and exposure.

Following this, enthusiasts created a GHIBLI meme coin without any delay. Reportedly, within just 2 days, this memecoin gained massive support from the crypto community, resulting in it creating massive wave patterns in the hourly time frame.

Moreover, this meme coin is not listed on major crypto exchanges and speculations arise of its potential listing on Binance, the world’s largest crypto exchange, leading to a further price surge. Despite no official confirmation from CZ, GHIBLI has made a significant impact over the last 48 hours.

Whether a fleeting trend or the start of a long-term journey, $GHIBLI is currently enjoying the spotlight of the crypto-verse.

$GIBLI Memecoin Experiences a Pump-and-Dump Situation!

Following the launch, the token was widely promoted in the crypto community with click-bait titles and content. This resulted in this meme coin recording a surge of ~45% within hours and achieving a market capitalization of $27.5 million. However, this Solana-based memecoin has plunged about 50% since then.

Ghilbil Coin Price| Source: CoinMarketCap

Following this, another memecoin project hit the market, GhibliCZ which also experienced a similar price action within hours of launch. While fans are optimistic about the token launch and its possible link with the OG OpenAI, marketers smell a possible market manipulation. Notably, Ghibli, CZ, OpenAI, or any other project-related person has not yet rolled out any confirmation.

GHIBLI-themed Memecoins Get listed on Top exchanges!

Among the first prominent listers was Gate.io, a major centralized cryptocurrency exchange. Following this, BingX added this project to its Pilot section. However, it warns its investors about the uncertainty and extreme volatility of the project.

Ghibli Coin Exchange Listing | Source: CoinMarketCap

Among other listers are Kraken, MEXC, Bitget, Raydium, HTX, and Meteora. This resulted in the memecoin getting a broader exposure in the market, thus resulting in it achieving an intraday trading volume of over $85 million.

On the other hand, OXFUN elevated the situation to a whole new level by offering leveraged trading to its users. This resulted in this memecoin recording more volume in terms of transactions when compared to the top altcoin, Ethereum in the daily time frame.

Conclusion:

Over the past few weeks, the memecoin market has regained momentum and is back in the limelight of the crypto space. However, most of the recently pumped coins are trend-based and media hype driven. So, make sure to do your own research “DYOR” before investing in a digital asset. Moreover, do thorough research before investing in the memecoin segment as it is extremely volatile.