PooCoin Skyrockets 100% In 'Beyond Dogecoin' Rally, Because Why Not?

The repulsively named PooCoin (POOCOIN) cryptocurrency hit an all-time high of $5.17 near press time in the early hours of Wednesday.

What Happened: POOCOIN traded 77.6% higher at $4.68 at press time, according to CoinGecko data. The decentralized finance, or DeFi, token was launched on March 9.

The project held a competition to create an official logo, which gave PooCoin its current meme-themed look. 

The intraday gains in POOCOIN far surpass those of major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), or even the other joke cryptocurrency Dogecoin (DOGE), which was in the red.

BTC and ETH were higher by 0.79% and 8.51% at $55,309.10 and $2,298.36 respectively at press time. DOGE traded 18.02% lower at $0.34.

Why It Matters: After a lackluster “Doge Day” where the adherents of the Shiba Inu cryptocurrency failed to push DOGE’s price to $0.69 or $1 levels, the frenzy seems to have shifted to DeFi coins.

See Also: How to Buy Dogecoin (DOGE)

The "alt of alt season" saw DeFi coins on the Uniswap (UNI) network enjoy impressive single-day gains. These coins include Shiba Inu (SHIB) and the newly launched Weed Doge (WOGE). 

At press time, UNI traded 6.79% higher at $31.88. SHIB traded 26.10% lower at $0.000002567. WOGE was down 94.72% at $0.0018, as per Uniswap.org. 

PooCoin — perhaps an allusion to the colloquial term shitcoin — isn’t the only newly launched DeFi token enjoying its moment in the sun. 

SafeMoon (SAFEMOON), a coin that penalizes sellers and rewards long-term holders, surged 51.61%% higher at $0.00001084 at press time. Since the month began, the coin has surged 3513.33%.

Read Next: $1,000 Dogecoin Investment On Jan. 1 Could Buy You A Tesla Model S — But Holding This Crypto Would Have Gotten You 4