PayPal USD Fans Token is the Latest Crypto to Blast Up 20,000% Overnight and Crypto Experts Say This Lesser Known Crypto is Next
In a slapstick shot at PayPal's recent announcement of a new stablecoin, PYUSDF has become the latest DEX launched meme token to undertake a sensational overnight rally.
The spin-off coin is a tongue-in-cheek take on PayPal's new stablecoin offering, which sent waves through markets, initially on its 1:1 cash reserve but later due to a freeze function found in the smart contract.
And in typical crypto fashion, DEX markets aren't missing out on the action, with a surge in PayPal themed meme coins gaining substantial traction.
Launched at 16:00 on August 10, PYUSDF gained instant supercharged traction, as DEX traders raced in fuelling an almost unimaginable +10,500% candle in the opening hour
The initial pump captured the attention of the market, and over the next 12 hours PYUSDF steadily fought its way up an additional +70%, until a final huge green candle (+50%) sent price skyrocketing to a local high at $0.03.
Overall, PYUSDF saw an incredible +22,975% gain for early backers, driven by an enormous $1.32m in trading volume.
Yet, as the saying goes all good things must come to an end, and PYUSDF is no exception.
At 06:00 on August 11, a seismic dump dropped onto the chart, with price plummeting a dramatic -60% in less than an hour.
Leaving traders in disarray, and markets in abject panic, the dump turned into a cascade and three hours later when the dust had settled top buyers were left facing a -93.5% move.
But, now it appears PYUSDF could be staging for a second rally, as two consecutive hours of upside momentum have fought tough sell pressure to push up an admirable +40% in the hours since - leaving 1,180 bag holders hopeful.
While DEX markets aren't skipping a beat on PayPal's entrance to the stablecoin market, less extreme
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