LK-99 Superconductor Crypto Coin Surpasses $3m in Trading in First 24 Hours

5 August 2023

in DOGE

Reading Time: 4 mins read

News about the potential room-temperature superconductor dubbed LK-99 is a story that has gripped a much wider audience than the science genre usually reaches. The incredibly broad appeal of this news, which could have far-reaching impacts on our everyday lives, has now permeated the less-than-serious cryptocurrency community. An LK-99 meme coin was established a few days ago, and it is doing a roaring trade. In its first 24 hours of trading, the LK-99 coin surpassed $3 million in trading volume.

Meme coins are cryptocurrencies that sometimes become popular due to the enthusiastic reception for the thing or idea they represent. Famous meme coins include Dogecoin, and we have also seen tokens based on Pepe the Frog, Floki, and Harry Potter catch the zeitgeist. Obviously, LK-99 looked like a good opportunity for the foundation of a new meme coin, and Coin Telegraph notes that several LK-99 coins have been listed on the decentralized exchange Uniswap.

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Probably the leading contender for any meme coin durability is the ERC-20 LK-99 token, which, per our headline, was of enough interest to generate $3 million in trading volume in its first 24 hours.

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If we look at this LK-99 meme coin today, the news is a little sadder. Was this meme coin another pump-and-dump escapade? It seems to look like it, or at least its rise and fall, appear to trace the classic bubble chart. This isn’t surprising as meme coin developers are often upfront about these tokens being of no intrinsic value.

With the ebbs and flows of LK-99 keeping us on our toes, it wouldn’t be surprising if there were some more spikes and falls in ERC-20 LK-99 token valuations, but it is a characteristically risky digital asset to put any serious money into.

We have been busy keeping up with LK-99 news and developments as they happen. In our latest installment of the LK-99 saga, yesterday, we noted that another institution concluded that LK-99 indeed showed evidence of superconductivity (magnetism due to the Meissner effect) at room temperature. However, demonstrating or observing zero electrical resistance of the material at room temperature seems to be a stickier issue.

Stay tuned for more LK-99 insights, and the Wikipedia Live Tracker for LK-99 is also useful for those wanting to keep abreast of the latest developments.

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