A memecoin called PHIL, launched by a wallet connected to Ethereum’s Genesis block, rose to the top of Uniswap V2’s charts, reaching a market cap of over $125 million shortly after its debut.
PHIL's Launch and Growth
The PHIL token started trading around 15:15 ET, peaking at $0.10 per token before settling around $0.08.
Genesis Block Connection
Blockchain data from DEX Screener and Etherscan reveals that the wallet behind PHIL is connected to an entity labeled 'Genesis,' which first funded the wallet with 2,000 ETH on July 30, 2015, when Ethereum was launched.
Popularity and Price Fluctuations
PHIL is currently one of the most talked about tokens on Uniswap V2, reflecting the recent rise in popularity of memecoins, particularly with the emergence of low-cost memecoin generators like Pump.fun on Solana and SunPump on Tron. The maximum supply of the PHIL token is 1 billion and to date there are over 1,000 unique owners. One particularly successful trader who managed to purchase 6.5 million tokens initially sold half of his holdings, making a profit of $172,000, and his unrealized gains still exceed $300,000. However, a significant portion of these memecoins show surprising declines in price after reaching their peak value, and their names are forgotten. Time will tell whether this token will be the same.
PHIL continues to remain in the spotlight on Uniswap V2, ranking among the most discussed memecoins. Whether it will remain popular in the long term remains to be seen.
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