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Memecoin Tied to Ethereum Genesis Rockets to Uniswap's Top Charts

PHIL token, tied to Ethereum's Genesis wallet, gains $125M market cap, becoming Uniswap's top-traded asset with an 86,000% volume surge.

2 min 30 sec August 29, 2024August 29, 2024

Highlights:

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PHIL token quickly gained over $125M market cap.

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PHIL dominates Uniswap V2 with 86,000% trading volume surge.

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Ethereum Genesis wallet funds PHIL, boosting its allure.

Memecoin Tied to Ethereum Genesis Rockets to Uniswap's Top Charts

PHIL, a new memecoin on Ethereum’s Genesis block, has quickly gained traction on Uniswap. This memecoin reached a market cap of over $125 million shortly after its launch. 

 

Although its price has seen a slight dip, the excitement surrounding this token is still going strong. Now, traders are flocking to get a piece of the action.

 

PHIL Token Rises to the Top

 

The PHIL token launched around 8:15 a.m. ET and initially traded at $0.10. Within an hour, it experienced a slight decline, stabilizing at around $0.08. 

 

Despite the price drop, PHIL has skyrocketed to become the number one traded asset by volume on Uniswap V2. PHIL’s trading volumes surged by an astonishing 86,000%. 

 

 

Currently, PHIL boasts a market cap exceeding $84 million, with just over 1,000 unique holders. The top 10 holders have each secured 10 million tokens, highlighting the significant interest and investment in this new memecoin.

 

Ethereum Genesis Wallet's Involvement

 

What makes PHIL particularly intriguing is its connection to Ethereum’s Genesis block. The wallet that launched PHIL was initially funded with 2,000 ETH by an entity labeled Genesis on July 30, 2015.

 

This wallet has since transferred nearly all of its ETH into PHIL’s liquidity pool. PHIL has a maximum total supply of 1 billion tokens, and its top holders are already seeing significant returns. 

 

One early buyer, who purchased 6.5 million tokens, made a $172,000 profit by selling half of his holdings. He still holds unrealized gains of over $300,000.

 

As PHIL memecoin continues to dominate Uniswap’s trading charts, it’s clear that memecoins are not just a passing trend. The token’s rapid rise and the involvement of a wallet linked to Ethereum’s inception have only added to its allure.

 

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