Forget Zyn Nicotine Pouches, ZYN Meme Coin Is Making Hearts Race With 4,000% Gains

A cryptocurrency named after the popular Zyn Nicotine pouches called ZynCoin has emerged as a notable player in the meme coin space— the coin gained over 4,000% in the last three weeks alone to reach a market capitalization of over $80 million.

What Happened: Originally launched at the end of November 2023, ZynCoin has entered a vertical price discovery phase, with weekly gains of 419% last week and 150% in the current week, per CoinMarketCap data.

Trending: Bitcoin To $100,000? Here's what gold bug Peter Schiff said could happen on Anthony Pompliano's podcast.

The token is available on Ethereum ETH/USD and Solana SOL/USD. Notably, ownership of ZynCoin is renounced and its liquidity is locked, adding a layer of trust and security for investors.

ZynCoin has been dubbed a "culture coin" for capitalizing on the appeal of a cultural phenomenon — in this case nicotine pouches.

Also Read: Bitcoin ETFs Dominate With Strong Inflows, Leaving Gold ETFs In The Dust

Why It Matters: Social media traders have drawn comparisons to other successful meme coins like Pepe PEPE/USD, with expectations of a similar pattern of initial growth followed by a healthy consolidation phase.

One trader tweeted about ZynCoin's potential as a "lifestyle product" with a strong and growing community, especially among crypto-friendly demographics.

He noted ZynCoin's branding as an “identity meme coin” which are speculative communities based around shared cultural, political or lifestyle values.

This could give it staying power beyond typical meme coins, akin to identity coins like MAGA Memecoin TRUMP/USD.

However, traders also caution with regards to potential trademark and intellectual property issues that ZynCoin might face, particularly concerning exchange listings and legal challenges.

What’s Next: Nansen data indicated Andrew Kang’s fund Mechanism Capital bought $577,000 of the meme coin. Kang has been a vocal advocate of investing in the tail end of risky digital assets, such as meme coins.

ZynCoin's widespread usage, particularly among consumers of Zyn Nicotine pouches, has caught the attention of crypto investor Jake, who expressed excitement about the token's future trajectory in his short video.

However, traders should take note that talks of an "meme coin supercycle" do not mitigate the inherent risk of such coins.

Read Next: Shiba Inu, Dogecoin Caged As AI Coins Like Fetch.AI Excite Market: Here's Why

Photo: Shutterstock