Peep Into This Uniswap Memecoin HayCoin, It Became More Valuable Than Bitcoin At More than $5.5 Million A Piece

• There was a massive increase in HayCoin to $5.5 million. 
• But the price is now down to the $1.9 million range. 

Uniswap Memecoin HayCoin raised a lot of speculation among the crypto community after increasing to a massive $5.5 million. However, there was a reason for this, as we are going to look into it in detail. 

Uniswap Memecoin HayCoin Increases to $5.5 Million A Piece 

Image from Etherscan 

• Forget the hype. Did you know that there’s a cryptocurrency that is much more valuable than the apex cryptocurrency, Bitcoin? Yes, Bitcoin isn’t the most valuable cryptocurrency in terms of price. So, this Uniswap Memecoin HayCoin reached a new price level that left many crypto enthusiasts perplexed. This memecoin cryptocurrency was at the price level of a massive $5.5 million before experiencing some reiterations. So, there was a reason for this massive increase in price for this Uniswap Memecoin HayCoin. 
• There was a massive burn from one of the long-term holders of this token. So, on Thursday, there was a massive burn of 51 of these Memecoin tokens. This brings the number of remaining tokens of HayCoin in circulation to stand at around 4.35 tokens. To make things even more interesting about this Memecoin, the remaining 4.35 tokens are among 4,800 holders. With this in mind, it is important to note that this burn made the market cap of this token increase to a whopping over $140 million. But before moving forward, let’s discuss the origin of this token. 

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JUST IN @Ashleighschap just confirmed ownership of the 51 $HAY token wallet and fully burnt ithttps://t.co/r2RTOvYyuI

— Haycoin (@HayCoinERC) October 26, 2023

Origin of the Uniswap Memecoin HayCoin 

• One of the mysteries in the crypto community is that the Uniswap founder has a passion for this HayCoin Memecoin. So, the deployment of this token was by Uniswap creator Hayden Adams in 2019 during the early stages of the decentralized crypto exchange. One can say this was the first cryptocurrency in Uniswap, and they won’t be wrong. So, something happened. 
• During the launch of this token, there was a destruction of a large percentage of the supply by the developers. However, some groups of crypto traders came across a few of the Uniswap Memecoin HayCoin earlier in October. So, the value attachment of this memecoin, the price of this token, was soon to rise. It was at this moment Uniswap creator Hayden Adams made a decision to burn his holdings. Apparently, this made the token increase by large margins. 

Current HayCoin Price Update 

Image from Coinmarketcap 

• Remember we said the price of this memecoin surged to a massive $5.5 million. So, what is the current HayCoin price update? 
• The fact is that there’s a retracement in the price movement of this memecoin since the burn. So, in the latest HayCoin price update, the price is now down to around $1.9 million at press time. There are chances of more reduction from. This token. 
• In conclusion, the Uniswap Memecoin HayCoin is just the case of another memecoin that came up without a roadmap. So, it was just a result of the coincidence of investors coming across abandoned tokens. 

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The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from CryptoNewsBytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from the company.