The name BALD is a reference to Coinbase CEO Brian Armstrong. “Bald” is translated from English as “bald”.
According to DexScreener data, memcoin capitalization soared from 0 to $50 million, and its price rose by 40,000%. Also on social media was a post about how an unnamed trader turned $500 invested in BALD into $1.4 million.
However, the creator of BALD withdrew millions of dollars of liquidity from the only channel of its conversion, after which the memcoin collapsed by 90%.
Recently, ChainPlay service analysts surveyed 1,503 cryptocurrency investors around the world. It turned out that the vast majority do not trust meme coins and consider them fraudulent.
Markus Thielen, head of research at Matrixport, compared investing in memetic cryptocurrencies to playing lottery games.
Source: Bits
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