RIZZMAS crypto surged to ATH at $98M Mcap, then dumped -90%. Are Christmas meme coins the next trend for December, or are they doomed to dump and rug?
As the holiday season approaches, it’s no surprise that we see a surge in Christmas meme coins. These projects, launched during peak festive fervor, often become rug pulls.
One coin that has recently caught our attention is Rizzmas, a token launched almost a year ago for Christmas 2023. Rizzmas remained relatively quiet for most of its lifespan until a surprising surge occurred just days ago.
Marry Christmas 🎅 #Rizzmas pic.twitter.com/Qlcwtlhs7Q
— Evelyn (@evelyn0x1) November 29, 2024
DISCOVER:Â The Hottest Meme Coins to Buy in The December Meme Coin Market
Rizzmas: The Curious Rise and Fall of Leading Christmas Meme Coin
(RIZZMAS)
Rizzmas’ journey has been peculiar. After an entire year of unimpressive performance, it experienced a sudden surge, reaching an all-time high (ATH) of $98 million—an impressive +13,00% in just a couple of days. This sudden rise is remarkable for a coin that seems to ride on little more than seasonal hype and the spirit of Christmas memes. However, behind the scenes, there may have been more at play.
A bubble map generated through INX shows a significant cluster of wallets with strong connections to each other. This pattern often indicates a planned and coordinated movement of tokens. When examined closely, the bubble map reveals a suspicious level of wallet interconnectivity that might imply concentrated control over the supply of Rizzmas, potentially leading to artificial price manipulation.
Many within the crypto community confirmed the suspicions, especially on X, where several users pointed out the risks of such distribution. These warnings were validated when, only 24 hours after reaching its ATH, Rizzmas experienced a sharp 90% decline, touching an ATL of $8 million. It’s now back at $17 million, but it’s hard for us to see a possible recovery.
Saw #Rizzmas shilled heavily in a few groups yesterday. Checked it out of curiosity.
1. Not pumpfun launched which leads to
2. Metadata unlocked and
3. HEAVILY bundledGood luck. pic.twitter.com/eHIIbO4Pgp
— VikingXBT (@VikingXBT) November 28, 2024
The rise and fall of Rizzmas highlight the critical importance of thorough research before investing, particularly in meme coins that rely heavily on holiday-themed hype without substantial support.
As the holiday season progresses, more meme coins will inevitably launch, but they are often poor investment choices. These Christmas meme coins tend to spike rapidly within hours and drop as fast, making it easy to miss the ideal selling point – so watch out!
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