Given that the name of the new cryptocurrency coincides with the new coronavirus variant, the OMIC coin could be the next meme crypto
Omicron, a digital currency that is named like the new coronavirus variant, is surging in the market.
This comes as Ethereum and Bitcoin experience a market crash on Black Friday. Being named after the new COVID-19 variant is the reason why digital currency is gaining attention. The price of the OMIC coin has surged 100%. This is a rare high volume from the time B.1.1.529 became Omicron. The B.1.1.529 mutation, which was initially reported in Africa, is now a variant of concern globally.
Moderna and Pfizer could have a vaccine for the Omicron variant. The proliferation of the variant caused a crash in the digital currency market. The price of Bitcoin sank by 20% compared to its recent highs.
The price of the Omicron digital currency has risen seven times since the announcement of the new COVID-19 variant that is now a variant of distress. It reached a record high on November 29 – $711.
Omicron had little recognition and trade volume before the B.1.1.529 variant was named Omicron by the WHO. Even with the high trade volume, its surge may be short-lived. However, the digital currency has an opportunity to stay afloat even as other renowned digital currencies such as Ethereum and Bitcoin crash around it.
We’ve reported that Ripple teamed up with Republic of Palau to develop digital currency strategy.