In the cryptocurrency news edition today, we have an official April Fools 2020 prank from CoinMarketCap, with a toilet paper token listed with “short supply.” The crypto data site saw massive volumes for the new “Toilet Paper token,” overcoming Bitcoin to the position zero and “out of stock” circulating supply.
The website known for listing cryptocurrencies in order of market cap value listed the Toilet Paper Token (TPT) as number “0” on top of its list on March 31, showing lack of supply. They did this as they expected the April Fools 2020 day, hinting on a prank that would surprise, amaze and made people laugh.
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April Fools 2020 comes in the midst of the coronavirus fears and the falling markets. There is a trend of people going to supermarkets and buying toilet paper, which is why CoinMarketCap decided on such a joke.
In light of the world governments telling people to stay home and supply shortage anxiety, customers have taken to the shelves and bought mass quantities of toilet paper, causing shortages. The Toilet Paper Token (TPT) is placed in light of news stories like these and April Fools 2020, sitting at a press time of $1.64 which is close to the price of one pack of toilet paper.
Currently, the Toilet Paper Token is with a 1,123.97% increase, for which CoinMarketCap has put the fire symbol next to it, indicating that the cryptocurrency is viral among traders. The token’s chart showed the asset price recently completing a nice double-bottom pattern, which has historically led to increased price rallies.
Tapping the token itself leads to a page named “Wipe Paper” – a joke on the white papers that are written for cryptocurrencies. The paper also shows an April 1 date, while the write up indicates that TPT is viral in the altcoin news, detailing toilet paper through the ages and leading to present day consumers, which have stocked up on much more of the commodity since late 2019.
TPT’s Wipe Paper also mentions tokenizing toilet paper, harnessing “smut contracts” and touting “Airplops” as well as an “Initial Scattering Offering” or an “ISO” which is a term related to the initial coin offering and ICO cryptocurrency terms. There is a total supply of 8 billion tokens, available for purchase on the “Shitake Exchange,” on April 1.
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