2024

Brian

Luigi Inu

<p class="is-style-lead">Luigi Inu, a memecoin inspired by Luigi Mangione, has hit a new all-time high by market capitalization, reaching $60 million. This market movement is in conjunction with the Pennsylvania police taking Mangione in custody for the murder.</p> 
<p>The Luigi Inu (LUIGI) token first started gaining traction following Mangione’s arrest in Altoona, Pennsylvania and charged on Dec 9. The token’s market cap reached $29 million before it rocketed higher to $60 million, after the arrest was confirmed.&nbsp;Originally launched by anonymous crypto traders, the token is <a href="https://coinmarketcap.com/dexscan/solana/AWcXGpmBGvhyZgWE4rEfSTFoDgHHrHa12fhyjqBvqeUL/" target="_blank" rel="nofollow">trending</a> on Raydium, the automated market maker built on <a rel="" href="https://crypto.news/solana-and-ethereum-could-soar-but-this-meme-coin-has-the-market-buzzing-with-2024-hype/">Solana</a>.&nbsp;</p> 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="1195" height="502" src="https://crypto.news/app/uploads/2024/12/dexscreener.com_LUIGI_SOL_2024-12-10_08-58-13.png" alt="Price chart of LUIGI/SOL showing recent trading activity, with fluctuations leading to a current price of 0.0003198" class="wp-image-14317827">
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  Price chart of LUIGI/SOL showing recent trading activity, with fluctuations leading to a current price of 0.0003198
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<p>The connection between Mangione and the memecoin lies in the fact that his arrest and the subsequent media attention have significantly boosted the token’s popularity and value.&nbsp;</p> 
<p> You might also like: <a rel="" href="https://crypto.news/mog-leads-cat-memecoins-as-cult-reaches-845m-fdv/"> Cult token launch sees over $600M in FDV as MOG tops cat-based memecoins&nbsp;by market cap </a> </p> 
<h2 class="wp-block-heading" id="strong-who-is-luigi-mangione-strong"><strong>Who is Luigi Mangione?</strong></h2> 
<p>According to <a href="https://www.youtube.com/watch?v=ryk76suVGPY" target="_blank" rel="nofollow">police</a>, Luigi Mangione, is connected to the “premeditated and pre-planned attack” killing of Brian Thompson, the CEO of UnitedHealthcare, in Manhattan. Surveillance footage also captured Luigi Mangione exiting the vicinity shortly after the gunfire erupted. Mangione also published a manifesto about disparaging things about corporate America, which added fuel to the virality of the <a rel="" href="https://crypto.news/why-hawk-tuah-crashed-in-20-minutes/">memecoin</a>.&nbsp;</p> 
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 <p><kbd><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXc6UJ6lOrGQ42OadPw6FjtaD0acBO5LHfBapIR_nW1eFuVOEfGOQ-Faj4090uGVHi7u3388r3UACt9jPqm8zdMiElmjVoidnNyvhAc4GlIRB2aDCmGK-xku3o4aQ4LTmDdrfCV7_w?key=Iv0P_c-JPMZQsPqkDDr8dEkK" style="width: 100%" alt="LUIGI hits all-time high at $60M market cap after Luigi Mangione’s arrest&nbsp;for murder - 30"></kbd></p> 
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<h2 class="wp-block-heading" id="strong-the-problem-with-hype-based-memecoins-strong"><strong>The problem with hype-based memecoins</strong></h2> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   https://twitter.com/cz_binance/status/1861306581758976434 
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  Tweet from CZ, Binance’s CEO
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<p>In the wake of recent market activity, numerous new-cycle memecoins have disappointed with their inability to break all-time highs, leaving many to question the “memecoin supercycle” a phrase <a href="https://www.youtube.com/watch?v=6nqzwdGxTGc" target="_blank" rel="nofollow">championed</a> by Murad Mahmudov at September’s <a rel="" href="https://crypto.news/mtt-sports-debuts-at-token2049-singapore/">Token2049</a> conference. As meme tokens inspired by hysteria potentially cross the line between tragedy and speculation, experts caution that there are dangers in playing with such whiff-of-miracle assets.</p> 
<p> You might also like: <a rel="" href="https://crypto.news/ripple-ceo-says-fairshake-pac-exists-to-challenge-sec/"> Gensler’s SEC actions fueled crypto PAC Fairshake, Ripple CEO says </a> </p> 
<p>These tokens, like LUIGI, exploit the fear of missing out using viral narratives about wealth, which become appealing much like sports betting, believes <a href="https://www.linkedin.com/in/alexbeene/" target="_blank" rel="nofollow">Alex Beene</a>. However, they lack the fundamental value and stability of traditional assets, making them highly volatile and risky investments.&nbsp;</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   https://twitter.com/BaketheS77946/status/1866292758580760838 
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  Screenshot of a crypto tracking platform showing data for the token ‘BRIAN’ with the tagline ‘Justice for Brian Thompson.’ The data highlights a market cap down by 25.23% at $68K, a 24-hour trading volume of $691K, and liquidity of $33K.
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<p>Many netizens are trading the LUIGI token, with some <a href="https://x.com/noNameBitcoin/status/1866297381974597950" target="_blank" rel="nofollow">actively</a> supporting the alleged idea of anti-establishment, which Mangione is said to envision. However, many within the crypto community also condemn the incident and seek justice for the victim. A new token called $BRIAN has also surfaced, which aims to bring justice to Brian Thompson.&nbsp; </p> 
<p> Read more: <a rel="" href="https://crypto.news/bitcoin-hits-100k-altcoin-season-next-best-sui-wif-set-for-breakout/"> Bitcoin hits $100k, altcoin season next: BEST, SUI, WIF set for breakout </a> </p>

LUIGI hits all-time high at $60M market cap after Luigi Mangione’s arrest for murder

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