A new memecoin, Black Agnus (FTW), has taken the cryptocurrency market by storm, surging 400% in just 24 hours and reaching a market capitalization of $1.8 billion.
This bull-themed token is currently the fourth-largest memecoin in market capitalization, trailing behind Dogecoin, Shiba Inu, and Pepe.
Its price skyrocketed to $0.00182 from its all-time low of $0.04982 on September 12th, the same day it was listed on major crypto market aggregators CoinGecko and CoinMarketCap.
The token’s ascent and rapid gain in popularity can be traced back to this listing which boosted its visibility and attracted a wave of crypto investors eager to capitalize on its momentum.
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Currently, FTW stands at number 75 among the largest cryptocurrencies, a significant achievement for a relatively new entrant in the market.
However, while investors are excited, the Black Agnus team has warned users of potential scams, urging them to double-check the contract address before making transactions.
On their official X handle, the team said, “It has come to our attention that some individuals are creating fake versions of Black Agnus (FTW)”.
“Our official contract address is 0x306fD3e7b169Aa4ee19412323e1a5995B8c1a1f4”
FTW’s tokenomics currently boasts a market capitalization of approximately $351 million, reflecting strong investor interest.
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Sadly, a worrying detail has emerged as Nansen data (on-chain analytics platform) shows that one active wallet holds nearly 25% of the total 10 trillion of FTW’s token supply.
This could potentially lead to a price correction and threaten the token’s sustainability.
However, the Black Agnus team plans to allocate 60% of the total supply in the initial token sale.
In the end, it’s unclear if the current uptrend can last. Investors must monitor wallet movements to make predictions and determine whether they align with the Black Agnus team’s strategy.
