Boo! Halloween-themed shitcoins materialize to haunt crypto Twitter

by · October 31, 2022

The crypto community never shies away from distributing new cryptocurrencies that are themed around current events, and Halloween was no exception. The industry saw an influx of Halloween-themed cryptocurrencies hoping to cash in on the hype surrounding the festivities.

Halloween-themed cryptocurrencies have taken over the crypto ecosystem on Twitter, usually offering no real use case or future for investors. Projects like these have a track record of being picked up as an off the shelf product, which can be quickly renamed and distributed in the free market for trade.

Projects like the Halloween Token, as seen above, appeared just days before the occasion with the sole purpose of raising $50 million in market capitalization. Halloween Spook, a project that emerged in September 2022, claims status as the “scariest meme token on the Binance Smart Chain (BSC).” The project is promoting the Halloween Elon (SINK) token, which is based on a recent “let it sink in” meme from Elon Musk.

Found again on the BCS network was the Halloween Wars Token, which obviously shares its intention to “ride the hype of what many claim is the most exciting time of the year: Halloween.” Despite no attempt to market the project, the project gained 17 followers who remain at risk of losing their assets to market capitulation.

One of the stronger contenders this year was halloween bsc, another BCS-hosted project without any obvious goals for the investors.

As shown above, the project recently celebrated a temporary bull run, but a reverse search showed no existence of an ENDS/BNB trading pair on Binance or any other trading platform.

While cryptocurrencies based on current trends tend to increase in market price, the rise is often limited to a few days before the owner decides to cash out and make investors profit. As a result, it becomes important for investors to do their research (DYOR).

Related: Cointelegraph Store Introduces Halloween Crypto Monsters Merchandise

Twitter is home to a majority of the crypto world, and when Elon Musk took over the social media platform, crypto exchange Binance decided to support the development of crypto and blockchain solutions for Twitter.

As Cointelegraph reported, Binance CEO CZ committed to backing Musk’s Twitter acquisition with a $500 million fund.