As Facebook flounders, here’s why these META wordplay tokens are up by 1700%, 200%

ambcrypto.com:

Following its alliance with the crypto-sector, Meta [née Facebook] struggled to stay afloat as the company lost $251 billion in value within 24 hours and stock prices plunged by 28.69% over the last month. Employees scrambled to figure out their priorities and decide whether it was time to exit. But considering Meta’s foray into crypto, what ripples are these actions causing in the industry?

At press time, CoinMarketCap showed several top gaining coins that were riding the META wave. These included Metaverse Future [METAF] which saw a rally of 1711.44% in 24 hours, Meta City [METACITY] which saw a rally of 275.13% over the same period, and MetaPay [METAPAY] which rose by 206.52% in a day.

However, it’s worth noting that none of these three tokens were among the top 100 or even 500 tokens by market cap.

Source: CoinMarketCap

So the question is – What is going on here? One answer could be that as Meta trends – for all the wrong reasons – token creators hoping to cash in on the traffic are using Meta and Meta-themed names to push their own products.

Alternatively, this could be a strategy to confuse new investors who may still not understand the difference between Meta [formerly Facebook] and Metaverse tokens such as AXS and MANA.