Alejandro Arrieche
The price of the native token of the CumRocket adult-themed crypto project – CUMMIES – is rising by nearly 19% in the past 24 hours at $0.002913 per coin while the token accumulates a 45% 7-day gain.
Just yesterday, the token was trending on Stocktwits as the price rose by around 75% at some point during the day. Trading volumes also exploded during yesterday’s session with nearly $2.2 million exchanging hands throughout the day. This volume accounts for roughly 57% of the project’s current market capitalization.
The uptick appears to have started on Sunday. However, there are no news or events that justify this latest jump in the price of CUMMIES.
On 25 August, the CumRocket official Twitter account commented that the project was getting ready to launch a new website. The CumRocket website displays all the content produced by the platform’s creators including NFTs such as adult videos and pictures.
Gm!
New homepage is… pic.twitter.com/1OAix544x1
— CumRocket (@CumRocketCrypto) August 25, 2022
The launch of this new version of the website later in the weekend may be the reason why the CUMMIES token is rising as investors could believe that this upgrade may attract more users to the platform and, therefore, it could cause a spike in the token’s demand.
However, website traffic stats from multiple sources indicate that CumRocket’s visits have been on a steady downtrend in the past few months moving from around 280K visitors in January this year to 84K in July.
The founder of the project, Lydia Lane, has not tweeted anything relevant about the project either. From what it seems, this could be a pump-and-dump event led by deep-pocketed traders who may take advantage of the token’s low liquidity to lure unwary investors to then cash out.
What is CumRocket?
CumRocket is a decentralized adult platform that allows creators to share and monetize their content without the hassles of traditional platforms including elevated fees, chargebacks, and payment processing hurdles.
Creators can use the platform to sell images and videos to users as non-fungible tokens (NFTs) or they can also be compensated by attracting subscribers to their channels or receiving tips from their fans.
The project was launched in 2021 by Lane and another two web3 enthusiasts. Lane claims to have a software engineering degree and reportedly resigned from her job as a software engineer at UNIDAYS to pursue a full-time career as the head of this crypto project.
The native token of the CumRocket platform – CUMMIES – is used to settle transactions within the platform and can be exchanged for other crypto assets through centralized or decentralized exchanges.
The token’s maximum supply is set at 100 billion and its currently circulating supply stands at 1.32 billion according to data from CoinMarketCap. According to CoinBrain, its community includes a Telegram group of 14,159 members, a Reddit channel with 11,688 subscribers, and a Discord following of 12,953 members.
In June 2021, the project jumped to the spotlight after the founder of Tesla (TSLA) tweeted a cryptic message made up of emojis that could be interpreted as “CumRocket to the Moon”.
–>
— Elon Musk (@elonmusk) June 5, 2021
CumRocket Price Prediction 2022
According to predictions from Wallet Investor, the price of CUMMIES is expected to rise in the near term with the baseline prediction for the next 14 days standing in a range between $0.003 and $0.0033 per coin.
However, according to the algorithm’s forecasts, the price is expected to decline to zero by the end of 2022.
Meanwhile, predictions from Gov.Capital indicate that the price action may continue to be volatile in the near future with the price ranging between $0.0016 and $0.0026 per coin in the next 14 days.
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This article was written for Business 2 Community by Alejandro Arrieche.
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