As Strange ‘4096’ Token Boosts Up 1,200% Overnight, This Bitcoin ETF Project Just Hit $4 Million

cryptonews.com:

A strange new meme coin, 4096 token ($4096) has exploded +1,200% overnight, as traders flock to the unique tokenomic propositions.

This comes as recent months have seen a huge trend in explosive DEX-traded token moves, with countless moon-shots garnering significant attention, including the ever-popular APX, SAMBO Bot, BabyGROK, TIME, ROCKY and IO.

4096 token is purposefully designed to skyrocket, with a tiny supply of just 4096 tokens, and a burn mechanism that applies deflationary pressure to supply every time the liquidity pool falls to 256 tokens.

#1 daily gainer on @DEXToolsApp

4096 undividable tokens with 0 decimals. Extremely limited and hyper deflationary.#ERC4096 pic.twitter.com/hJ8KYaaIDI

— 4096 (@4096ERC) December 14, 2023

Curiously $4096 token is non-fungible – it cannot be divided into sub-units, consequently there are now a whopping 193 ‘wholecoiners’ with one $4069 token in their wallets.

So far 16% of the total $4069 supply has been burned and 9.44% has been added to liquidity pools.

As price action reels from the dramatic rally, $4096 token is currently trading at a market price of $285.5 (Representing a 24-hour change of -75%).

Retracement moves swept through the chart throughout yesterday afternoon, as early-backers sat atop +1,200% gains moved to take profit.

The sell-off appears to have been triggered after $4096 price hammered an all-time high at $1,448 (just below the psychological resistance level around $1,500).

Yet, an emerging consolidation zone around $250 offers the promise of a second rally, as buy-pressure returns to the chart – currently accounting for around 59% of transactions.

This leaves an army of 576 dedicated traders poised to secure further gains, as the deflationary mechanism and buy taxes