Omicron token gained 900% after WHO name-new variant

[Wiwo]

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

[aioc]

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

The bond-based yield farming project began life in early November as a fork of the OlympusDAO DeFi protocol, but it shares no other connection to the virus aside from the name.

[Daltonik]

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.

[Porfirii]

but the trading volume, although it increased by x100, did not even exceed $1 million.

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.

[WalkerIVIV]

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 

[Natalim]

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

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.

[livingfree]

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.

[tvplus006]

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.

[timerland]

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.

[GreatArkansas]

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.

[Yogee]

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.

[goldkingcoiner]

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

The bond-based yield farming project began life in early November as a fork of the OlympusDAO DeFi protocol, but it shares no other connection to the virus aside from the name.

^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.

[StarKay]

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

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.

[cryptoaddictchie]

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.

[andeluna]

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.

[WannaCry]

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.

[SlimShadyMmp]

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

[traderethereum]

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.

[jeungo]

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.

[Wiwo]

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.