Omicron the new variant of COVID named by WHO (World Health Organisation) has been recently surfacing around the internet.
Seriously 'Omicron' more sounds like a Decepticons from Transformers.
Omicron (OMIC) token spike up.
Due to the naming COVID variant Omicron the already existing lesser-known crypto token named Omicron (OMIC) has shot up by 1000 percent in last week.
Before 28 Nov 2021, the price of the crypto was around $64.95 and the volume of trading is 0 most of the time but after the announcement of the omicron variants, it just shoots up to $688 with the volume traded in 24 hrs around $659010 and continues to fluctuate.
Crypto.com data suggested around $781,000 have been exchanged between these last couple of days.
The OMIC token can be only traded on SushiSwap with the maximum supply of Omicron tokens being a total of 1 million coins.
Why did Omicron (OMIC) token spike up?
As you always know about newbie crypto holders they just go with the flow and without thinking a single second hopped to get some good returns.
Typically our crypto market is filled with a lot of people who wanted quick good returns without doing any research and just following the hype.
A similar situation has happened with the OMIC token. After the WHO announced the name of the new COVID variant people started to recognize similar crypto tokens and in hope of good returns all the crypto herd followed the same thing and everyone started to put their money in Omicron (OMIC) token.
Should you invest in Omicron Token?
Of course, not you should never consider investing in any cryptocurrency without doing any proper research.
The coins like just following the hype, you better stay away from those types of coins. Haven't you just read the news of crypto token Squid Game Token (SQUID) which was created from the hype of the Netflix series Squid Games. It was an ultimate rug pull as the creators of that coins scammed millions of dollars. The token crashed 99% and all the investor's money got vanished.
Omicron token might end up like Squid Game token being rugged pulled. Also, you can check any meme coin or any hyped coin they just get crashed down within a few days.
Unless you are a full risk-taker and have full money to lose you can do whatever you want. If your money is precious please do your own research before any investment.
Conclusion :
There are so many greedy people in the crypto market which leads to sudden hype in the price of some tokens. Do not follow the herd in case of investment all trust yourself and do your own research.
"The Best Teacher, The Best Advisor, The Best Motivator is "YOU" Yourself"
CyberCrypto
Thanks for suporting @Lhes. Means a lot.!!