Unexpectedly, the crypto called Shitcoin could actually turn into the hottest topic in the cryptocurrency niche recently as it demonstrated triple-digit gains and attracted both traders and critics. Currently trading at $0. 01082, Shitcoin has seen an astonishing 103 percent increase in it value as per recent data gathered in the market. An increased by 49% of the past week.

This token with a market capitalization of 10,822,197 USD and trading volume within a 24 hour period of 5,045,756 USD was unknown until now in the crypto market.

This unprecedented boom of Shitcoin has created a lot of controversy in the crypto world regarding the concept of value in the digital currency market. Opponents have claimed that the token’s rise shows that the market is driven by a bubble-like mania and irrational decision making.

They use this as evidence that there is no logical reason for Shitcoin’s price to rise and that it will likely be a net negative for the rest of the cryptocurrency world.

Shitcoin enthusiasts, however, believe that the rise of such tokens is evidence of the decentralised and capricious nature of the cryptocurrency market. They insist that the token, no matter how it is called and where it came from, successful shows that community-focused initiatives are viable, and small-cap cryptocurrencies can deliver massive returns.

The controversy that surround Shitcoin has also brought back the discourse of meme culture and social media’s influence on the valuation of cryptocurrencies. It was admitted that the token’s name is quite provocative, and the promotion of the token spread in social media, which is another sign of the growing importance of social groups in driving the market.

And while Shitcoin’s fortunes are now on the rise, so are the regulatory authorities, and market analysts’ curiosity. Some skeptics fear that the token will attract scammers or witness market manipulation that may be catastrophic to those inexperienced investors who are sucked into the hype.

Even with these issues in mind, Shitcoin has unarguably created a buzz within a faction of enthusiasts within the crypto world. Blogs and social media are full of discussions and comments on the token with some expecting it to go even higher and others are waiting for the token to crash.

The next few days and weeks are going to be decisive for Shitcoin as the market waits to see whether the platform is capable of continuing its growth or if it is going to disappear into the oblivion of other failed crypto trends. Whether the Shitcoin project is to be ultimately successful or not, the story should remain a cautionary tale to anyone interested in the cryptocurrency market as being as fickle as it is lucrative.