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An obscure token Omicron made a massive gain on Monday after the World Health Organization named the new covid 19 variant, the token did a 900% gain but apart from the name being the same the cryptocurrency does not have any connection with the virus.
https://cointelegraph.com/news/obscure-omicron-token-spikes-900-after-new-variant-emerges

Obviously, It's pumped by developers and their supporters to make it appear that it's gaining support but a project which is just getting pumped because of the virus not because it's gaining support because of their platform deserves further scrutiny, this could be a high-risk investment and you invest at your own risk, do your research first or  you could lose everything supporting this kind of project, honestly, this is the first time I read about this project

Yes, it's just that in relation to Omicron, in my opinion, there was a click-name of the pump due to the coincidence of the name of the token with the new threat, but the trading volume, although it increased by x100, did not even exceed $1 million. But thanks to this, the token has received attention from the press and this should benefit the community and the team. :)

I was thinking about this while reading the title of the thread, and the OP.

900%, in the case of a very low market cap coin, is misleading. You can see your inversion multiply but, if there is no demand/basement to sell, your gains will be limited not because of the price, but because of the liquidity.

Anyway, I didn't know this coin before, and I may be thinking in another kind of tokens; as Daltonik mentioned the team and community, maybe it is not so obscure as I thought at first glance.

This is what i called that as a non sense thing. To be honest this doesn't have any correlation with omicron covid but the token was using the name to gain the hype. Sometimes cryptocurrency totally non sense thing. People hyping it by pumped the token that used the same name with something gets popular. I guess that if this is caused by the whales but none knows for sure.
Crypto was very unique lol something can be pumped easily when it has the same name with something that is being popular right now.
that makes us can see how funny crypto is  :D

I'm really in surprise seeing such a huge pump out from a (joke) new project. It is just a hype made by someone who will take the benefits from it and then let investors will suffer in the end.

Even we called it a very impressive market performance but this never bought my interest and made me risk money buying them. No, I don't spend but rather ignore this. It was very obvious that the developer of this project is no intention to help the community but rather to take advantage and might just scam.

CMC shows an error if you visit omicron's page.

This token is just new and I smell rug pull any moment since the creation date of this token is just this November!! Yes, during this Omicron announcement by the WHO.

People should get to learn in the past about these popular rugpulls by these scam projects.

This is a common practice that teams use for pumps and dumps. This happens all the time around Elon Musk's tweets, when what he says is immediately monetized by similar groups. This happened when he decided to buy himself a puppy, and as a result, his post was monetized into the created Shiba Inu coin.

This is the state of the bull market we are in.

Complete euphoria and utter irrationality. People buying tokens for the sake of their name because they've just had too much money to spare.

I don't think that this is sustainable, and in the long run, a lot of the tokens that have benefited from this current bull run will come down to Earth.

I remember before that when the coronavirus (covid 19) also started to spread.
There was a brand of beer called Corona, and yes, it is somehow affected because of the name.
So this time, this OlumpusDAO forked project on Arbitrum network is kinda doing it again, lol.

But overall, this is just a temporary for sure, especially if the project is quality and no issue at all.

What do you expect from an obvious short term project with only 2,430 circulating supply? Of course some greedy whales will pump that shit and some noobs would try to chase the "profit". https://www.coingecko.com/en/coins/omicron#markets

It's pretty dumb for cointelegraph to even write anything about this project. They are just marketing another shitty token.

^THIS!

Its a pump and dump! DO NOT FALL FOR IT! Someone, perhaps the developers themselves, are trying to use the whole omicron situation for themselves to lure newbies into buying a coin which probably nobody would buy otherwise. Whenever you see a project pump like this, its almost always an artificial fake pump which will follow with a dump in the near future. People who buy into it almost always lose their money.

You can't be too sure that cointelegraph has not been paid to write about the project, after all they are not a charity organization. Omicron token has successfully gained free publicity and many moon boys will definitely be attracted to cash in. Welcome to the new world of Cryptocurrency in 2021.

Wtf for real? People really sometime take chances with such current events. We all know how dangerous virus are and using the new name of the variant omicron already a create a scary fingerprints due to corona related type of virus.

I think many have fallen already with the pump and dump a scheme its not actually bad if you are earning from it but once you are just putting away huge money and doesn't earn from it. Maybe you need to put everything on check first.

In my opinion it will difinitely pump the price because the developer of the coin will taking the chance to get other people to invest in Omnicrom token named with the new Corona virus Variant because its in a trend rightnow and lots of people talking about it. Its kind of scheme of the whale of the omnicrom.

this doesn't make sense at all. People should stop buying this kind of coin. Those developers are also taking advantage of the weakness of the people. A coin like this is a pump and dump or a rug pull. But we cannot blame people entering on this kind of project, especially if you want to make a quick buck.

Doesnt make any sense to me for people to be using covid like that but hey maybe if they will use it for good but we all know that most of these devs dont care They just pumped and later dump the coins since technically what they set out to achieve that can be unrealistic but we will see how things will turn out

I am not surprised by that as people can easily relate to the new virus variant with the project but they do not know if it has a connection to that project.
It is the game that we always have seen happen in the crypto market and I guess many others will do the same thing to get attention from people to join in their project.
But I am not sure if that project can still survive in the crypto market because if the investor just gets the truth because of the pump and dump scheme, they will leave the project.
You can join with the pump and dump scheme, but you should know when you should get out and already make a profit.

I may not understand, but the token is what it is exactly. Did the developers of the virus create this? How can a project attract money that destroys the entire economy. I'm afraid it's very difficult for me to understand the current trends in cash flows. Although earlier there were also presidential coins, I don’t remember Ebola, or Halera tokens.

If you read through the whole post you will see where I mentioned that apart from the name (omicron) the coin have nothing in connection with the virus.
So the coin gained popularity from the name similarities with the virus.

I think it simply use the word or people summoning it as energy to power itself. That's quite similar to how people use trending keywords to make money on the internet. Quite easy to be very wealthy on the internet, especially if you can predict next keyword or get people to use a keyword(with potential to trend) that's connected to your business, but I'm not sure how moral that's.
If the token name really existed before it was given to a virus, then I think it's just lucky and may not have done wrong in that regard

I can't believe people are still investing in this even though this project doesn't really have anything significant to offer. I can't believe people aren't doing their research especially that the crypto world is one of the riskiest investment in the internet. Omicron isn't even related to the new covid variant yet people are investing like crazy.

I'm sad for not buying when its price was around $60. I would have the five times the money I invested now.  ;D  I didn't even know that such token existing in the cryptocurrency market. But it is my mistake to think that there wouldn't be this kind of "projects". We see nearly the projects of everything nowadays in the market. It is better to catch these opportunities before their price skyrockets.

Another rug pull scheme. Remember the squid token before that was rug pulled by devs? they created that coin since it's a hype and now look at this Omicron token. There are many people that get scammed by this kind of coins it just shows that many people are still stupid not to do their own research about the coins they bought, no one wants to invest or hold a coin that doesn't have real value or use in the industry right?

https://www.coingecko.com/en/coins/omicron
Total Supply:  2,430
The token is traded on Sushiswap (Arbitrum One).
24h Volume: $ 50,000

If the developers have their own pool and the number of tokens is limited, then the price of the token can be very easily manipulated.
Do not fall for the tricks of manipulators, at least study the statistics of the coin.

Ain't buying now and don't want to fall with this obvious trick. The project never looks that has the potential either.
Well, I don't wonder sooner that these investors will claim for such a big scam in front. Having this total supply, it was very easy to manipulate the price and let these new investors get into the trap.
Anyway, the project is just a joke and I think nobody got the interest buying this.

The new Covid is named Omicron and a token named Omicron surge becy if this? LMAO honestly until the end of time there will always be new people falling victims to crappy projects as far as crypto still exists, this was why meme coins trended so well since doge coin became a success, I pity new crypto investors, they just ram into anything they think it's cool lol

Remember what happened to squid tokens? I think it's the same thing. Deliberately pumped by a party for personal gain because the term omicron is emerging that began to go global as a plague. Be careful and don't get into the same hole again. This outbreak really has nothing to do with the omicron crypto coin.

Any coin that is related to what is trending right now will pump like what happened to this Omicron token that they are saying.
When COVID started, there is a coin called CoronaCoin. When Squid Game has been the trending, there is a new coin called Squid Game Token that obviously ended up as a rug pull and we all saw it on camera :D.

Now another token that is obviously a rug pull or a pump or dump coin has emerged. If I were you, I will just let this token go up and and not enter into it because you will regret entering at the wrong time. It went up 900% already. In the future when another variant and name will emerge then a coin that is related to that variant will pump again.

I agree with you, that it's been a long time since what trends are happening in the real world, there will be a scammer creating a crypto project according to the current trend. I think we should stay away from all this nonsense. Well, it really all depends on each other's corrections to avoid being trapped by scammers..?

yes, it is possible that a new project like the Omicorn token has gained a lot of support thereby making the price increase drastically. what's more, the project has a pretty good concept, such as a P2E-based project, gameplay provides many benefits just like playing games and you can earn money from it. isn't this fun? Yes, of course.

There is nothing good that absolutely comes from this kind of headlines, the pump was intentional because by mere looking at the current volume, you will realize that the volume is so low. If it's a solid projects, this kind of pump is enough to last long for long time even traders has taken their profits.
I have come to conclusions with pump projects, avoid them and stay on grid with real projects.

Okay its either of the two or one of any...its either we have stopped doing our due diligence in these new altcoins or It seems people are becoming creative with the naming of these coins :P But what I don't understand is why invest in a coin that is not linked to the corona variant in the first place? Tbh i wouldnt try to invest as this is no way linked to some kind fundraising of funds to help in the research of the virus or anything in those lines and afaik such research requires government support not individuals !