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Controversial influencer Andrew Tate has recently shaken the meme coin industry, stating he will finally endorse a “shitcoin” on June 1.
The announcement comes after months of Tate claiming he would not promote meme coins, or most other cryptos for that fact, except he actually did promote one recently.
Tate seemingly mentioned a recent shitcoin 15 minutes after its launch. While he denies promoting the coin, using the ‘$’ sign shows his intent. Following Tate’s mention of the coin, it immediately surged by 370%.
This is not the first time Tate has endorsed a new meme coin. In 2021, after buying $100,000 worth of Floki, the influencer endorsed it on Twitter, saying, ”Unlimited money awaits us in Valhalla”.
With this in mind, investors eagerly anticipate the next meme coin that Andrew Tate might pump. Here are the top three most likely candidates.
$COPIUM
Having launched on May 18, Copium surged tremendously, climbing 900% within the first three hours.
$COPIUM is arguably the number one meme coin to buy right now, with the crypto community relating to the coins underlying concept.
The idea behind the Copium coin is to support meme coin buyers who have missed out on 1000X meme coin opportunities, bought the top and been rugged. Overall, the coin aims to make light of the “could have” and “should have” scenarios that crypto investors often find themselves in.
$COPIUM is currently on a pullback from its ATH on May 18. The current price is $0.0091, presenting a perfect chance for investors to scoop up the coin early.
One of the main reasons Tate might endorse Copium is its satirical branding. Tate often refers to crypto community members as “crypto dorks” despite stating he invests in crypto himself.
This illustrates Tate’s love-hate relationship with crypto, which aligns with the underlying philosophy of Copium. Therefore, it would make sense if Tate tweeted using the $COPIUM Twitter symbol, potentially satirically or negatively speaking about crypto.
A tweet from Tate endorsing Copium would immediately rocket the coin's price. Another reason we could see Andrew Tate endorse Copium is that it currently prevails as one of the most engaging meme coin accounts on Twitter.
Despite its first Tweet on May 14, Copium regularly receives 1-5K likes on the memes it posts on Twitter. To put that into perspective, many of Tates tweets receive 5K likes or less.
According to Etherscan, Copium already has an impressive 2,244 holders in less than 24 hours. The coin has a $8 million market cap and a $42 million 24-hour volume.
$SPONGE
Sponge has been one of the fastest-growing meme coins since its launch on May 4. Within the first day of its launch, Sponge was picked up by CoinMarketCap and climbed to the number two spot of highest gainers.
The Sponge token is based on the SpongeBob SquarePants cartoon, and while we do not see any immediate connection to Tate’s life, Tate could endorse it for several reasons.
Firstly, the coin has a massive 42K Twitter followers. Tate is likely to endorse a coin which he can profit from, and Sponge already having a large following will make it easier for the coin to pump quickly.
Also, with a $17 million market cap, there is plenty of room for growth following a tweet from the influencer.
The current price of $SPONGE is $0.0004425, but it has an all-time high (ATH) of $0.002394. This equates to an 81.5% decrease, presenting significant growth potential if it can reach its highs again.
$SPONGE has a 24-hour volume of $4 million, showing that there is still a considerable level of interest from investors.
With other top coins like Turbo, Dogecoin and Floki currently on a dip, this presents an excellent time for bullish investors to scoop up their favourite shitcoin before the next leg up.
According to Etherscan, Sponge has already racked up 12,957 unique holders. Moreover, multiple investors have been purchasing Sponge in recent hours, with one buyer recently purchasing $3K worth of Sponge on Uniswap.
Overall, Sponge is currently on a pullback after an explosive start. However, as over 12K holders continue to display diamond hands, we could see the price reverse shortly, potentially capturing Andrew Tate’s attention.
$PSYOP
After soft-rugging a coin just days earlier, NFT collector turned meme coin creator Ben.eth has launched a second shitcoin. This time, the coin is named $PSYOP, and to attain it, investors must send Ethereum to the Ben.eth wallet, and the coin will be airdropped at a later date.
So far, the wallet has received over $5 million worth of ETH from investors hoping to make huge gains once they receive their $PSYOP.
Regarding the project, Psyop seems particularly high-risk. However, sometimes this can work in the coins favour, since meme coins as a whole do not offer utility, and the idea behind them is to go against usual conventions. Nevertheless, $PSYOP seems to be taking that a step too far.
The Psyop coin comes after Ben.eth released a meme coin earlier in May named $BEN. Popular crypto influencer Ben Armstrong noticed the coin and began endorsing it. Following this, the coin exploded but has experienced a drastic sell-off since Ben Armstrong sold his holdings.
However, the coin's controversial nature aligns well with Andrew Tate and the character he plays. Moreover, Tate’s recent arrest and claims that it was conspiracy against him could lead him to use the $PSYOP ticker since it would fit his narrative.
DISCLAIMER: This is not to be taken as investment advice. Crypto is a volatile asset, do your own research before investing and only invest money you can afford to lose. We may receive commission for clicking links in this article.
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