THE Protocol meme coin, Crypto Twitter and Vitalik Buterin

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THE Protocol

A meme coin called THE Protocol has risen over 600% in 24 hours.

THE Protocol has thrown Crypto Twitter into a frenzy. DeFi traders are speculating about what could happen next.

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THE Protocol's $THE coin has no use case, but traders are obsessed.

THE beginning

THE Protocol (THE) was created on October 14, 2022, after Ethereum co-founder Vitalik Buterin tweeted about crypto ‘shills’.

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Within seconds, Crypto Twitter knew a new meme coin was on the horizon.

Starting at $0.00, THE Protocol appeared on the real-time DeFi pair explorer Dextools. The token was trending for a few days before being overtaken by World Cup Inu and GMX competitor, YDF.

Some traders thought that was the end of THE Protocol, but on October 22 Vitalik acknowledged THE Protocol.

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The coin climbed from lows of $0.0026 to $0.025 in 24 hours. Some traders sold their holdings in other more respectable tokens to join in on THE hype, secondhandedly creating a market-wide dump on all tokens that weren’t THE.

Sitting currently at a $20 million market cap, many investors believe THE Protocol has more room to grow. THE Protocol’s website is barebones and is made up of Vitaliks tweet, THE’s token tax, liquidity status and a telegram link to THE Protocol’s growing community.

Although THE Protocol does nothing at the moment, the community and liquidity provider could build the token and make it into something much greater.

The token already has the support of Crypto Twitter influencers and Vitalk Buterin’s bewildered tweets, more than enough backing for the token to transform into something even crazier.

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