With the introduction of a Spot Bitcoin ETF seemingly imminent, the crypto space is understandably in one of its most exciting periods since the bullish antics of 2021. However despite the grandfather of all coins pulling the strings from the top, pumping memecoins can sometimes say a lot about the current state of crypto affairs…with the latest mooning instalment coming by way of Real Smurf Cat (ETH) (ШАЙЛУШАЙ).
Real Smurf Cat (ETH): The Meme
Before understanding Real Smurf Cat (ETH) (a.k.a. ‘Smurf Cat ETH’) as a memecoin, let’s get an understanding of the meme behind the token.
For our non-native slavic readers out there, the token code ‘ШАЙЛУШАЙ’ comes from the Cyrillic alphabet - with many sources citing it to be Russian (however suggestions of Ukrainian and Kyrgyz are also circulating… so sorry for our ignorance on this one).
In making things even more ambiguous - albeit very ‘meme like’ - it’s said to translate into the word ‘Shayshulai’... a word which to many’s knowledge, doesn’t mean anything.
That being said, suggestions - perhaps from those more involved in slavic meme culture - state that ‘Shayshulai’ is a meme that makes fun of how Baltic city names sound.
Nonetheless, the now-infamous Smurf Cat Character has been dominating the American TikTok algorithm since as early as August, with its unwavered popularity leading to the creation of a homage-paying memecoin.
Real Smurf Cat (ETH): The Memecoin
Smurf Cat ETH was first listed across crypto exchanges in September 2023, after being developed and launched by an anonymous team. With a fairly average start, the project began building real momentum on Tuesday of this week (October 24th).
Here, charts courtesy of CoinMarketCap show how the coin went from a valuation of around $0.000045 to an all-time-high of $0.0003245 throughout the week.
When it comes to the trade activity which generated such pump, Real Smurf Cat (ETH) has a current market cap of $24.1 million, and a 24-hour trade volume of $8.76 million. As such rapid price-hikes and hype metrics suggests, these numbers saw Smurf Cat ETH host some of the steepest inclines of this week’s crypto activity (albeit being accompanied with the occasional and momentary dip).
As of now, the coin is sitting at a price of around $0.0002842 (per CoinMarketCap), however given the project’s ‘popping’ nature, these numbers may’ve been blown out of the water by the time you end up reading this.
The Real Smurf Cat (ETH) - The Next Pepe or a Rug Pull?
Although undeniably exciting - especially for those who aped-in at its $0.000056 bottom - the memecoin territory should always be navigated with caution (as proficiently exemplified by the rug pulling project of Safereum).
Further, despite our pump and dump detectors being on high alert at the moment, the project thus far has done an impressive job of reassuring crypto investors that their memecoin ventures are safe.
To do so, the project’s anonymous team burned all of its liquidity pool funds and sent the remaining tokens to the Uniswap liquidity pool - which as this article on ‘how to spot a rug pull’ discussed, is a good indicator of a project being ‘rug pull resistant’.
Additionally, the project bolstered its legitimacy and authenticity by onboarding the Smurf Cat meme’s original creator Nate Hallinan - where per his own words on X, Hallinan is a Portland-residing ‘independent Artist with an emphasis in concept art’.
With more green indicators in sight, only time will tell whether the Real Smurf Cat (ETH) is the next Pepe the Frog… or even more excitingly, the first memecoin pump to officially signify the beginning of the next crypto bull run.
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This article is intended for educational purposes and is not financial advice.