Omicron, the variant of Covid-19 discovered in South Africa, contributed to the pump of the cryptocurrency of the same name, which floated between 60 and 70 dollars to reach almost 700 dollars. The World Health Organization would never have thought of stumbling upon insider trading, as if it didn’t already have enough problems.
In recent days, the value of Omicron (OMIC) has grown by 900%. Not bad for having entered the market only in the first days of November. The project is based on Arbitrum, a technology parallel to the Ethereum blockchain and it seemed like one of the many projects that accumulate in the extremely lively and varied world of cryptocurrencies, with an almost constant price on the market for several days. It can only be traded on the SushiSwap decentralized exchange.
Then came the WHO announcement on the Omicron variant and OMIC experienced a notable pump. Crypto-investors started buying, and the value went from $ 64 on November 26 to $ 242 on November 27, to $ 424 on November 28 and $ 689 on November 29. The value then plummeted to $ 200 in the following hours, making the roller coaster typical of pump and dumps. Bloomberg’s analysis defines the growth of these hours as “a bet on attention“. And Mr. Whale through his official Twitter account called Omicron “a giant bubble“.
We are in the wonderful world of crypto, where if you are just a meme coin uttered by Elon Musk you can have more luck than a patent for an invention that produces clean energy: what will be the next SHIBA?
