Tiger King Coin failed to capitalise on the Netflix show's Season 2 launch after it shed nearly half its value in 24 hours.
Named after the lockdown hit series starring Joe Exotic, the memecoin first launched in June 2021, attracting the attention of those covered in the show, fans, and investors. According to its website, Joe Exotic holds 1% of its total supply.
However, after anticipation grew about a potential breakout with Tiger King Season 2, TKING now sits at a price of $0.00009754. This is 69% down from its all-time high of $0.00034457 first hit at the start of November.
Tiger King Coin Drops Its Crown
As the second season of Tiger King launched, a small amount of hype began circling around the coin.
After its release, crypto YouTuber Matt Wallace tweeted about the coin. “I wonder if Tiger King Coin (Joe Exotic’s official cryptocurrency) is going to spike tomorrow when a ton of people start searching about Tiger King 2,” he said. “Carole Baskin will definitely be mad if $TKING spikes and Joe Exotic gets free.”
One r/WallStreetBetsCrypto poster even bought $50,000 worth of Tiger King Coin in anticipation.
However, so far it hasn’t gone exactly to plan. After an initial spike yesterday of 44% from 0.00015 to 0.00022, Tiger King Coin has now gained another zero. It costs $0.000097 - down 37% from its price at Tiger King’s launch.
Users on the r/TigerKingCoin subreddit were disappointed to find their token did not get mentioned in any Season 2 episode.
Of course, given the show only launched on November 17, many users will not yet have watched the second season. Interest in Squid Game and the Squid Game Token peaked some three weeks after the original show's release. This weekend could likely be crucial for TKING, as the show gains further traction.
The drops have not deterred current Tiger King Coin holders. “Just increased my bag to prepare for my moon landing next year,” one r/TigerKingCoin user posted. “Who else is out here ready to buy up these dips?”
Others touted the utility of TKING, dismissing claims it is simply another memecoin. “TKING and their ChainChat and EtherLift utilities are just beautiful, y’all should check about it before trying to [discredit] it,” posted one user. ChainChat is a private messenger app created by TigerKingCoin’s developers that allows wallet-to-wallet communication.
[Image: Ian M Jones/Unsplash]