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Toilet Paper Token has surged over 1,000% in price as people flocked to the now-sold out asset.
Itâs April Foolâs day somewhere, or at least in CoinMarketCapâs neck of the woods, as the cryptocurrency data site saw massive volumes for new âToilet Paper Token.â
A website known for listing cryptocurrencies in order of market cap value, CoinMarketCap, listed Toilet Paper Token (TPT) as number â0â atop its list on March 31, showing a circulating supply of âout of stock.â  Â
Although itâs still March 31 in some parts of the world, the annual day of pranks has already reached parts of the Asia-Pacific.
Source: CoinMarketCap.com
Bringing a bit of light-heartedness during tough times
April Foolâs day 2020 comes in the midst of coronavirus fears and falling markets.Â
In light of various world governments telling folks to stay home, as well as supply shortage anxiety, people have taken to the shelves, buying mass quantities of toilet paper. Such demand has caused shortages.
CoinMarketCapâs Toilet Paper Token sits at a press time price of $1.64, up 1,123.97% over the past 24 hours, with $41,758,500,000 in volume.
The tokenâs chart showed the asset recently completed a nice double-bottom pattern, which has historically led to increased price rallies.Â
Clicking on the token reveals a âWipe Paperâ
Tapping the token itself leads to the assetâs âWipe Paperâ â a joke on the white papers that start many cryptocurrencies. The paper shows an April 1 date.Â
The write-up details toilet paper through the ages, leading to present-day consumers, who have stocked up on much more of the commodity since late 2019.Â
TPTâs Wipe Paper mentions tokenizing toilet paper, harnessing âsmut contracts,â touting âAirplops,â and an âInitial Scattering Offering,â or ISO. The paper lists a total supply of 8 billion tokens, available for purchase on the âShitake Exchange,â on April 1.
Toilet Paper Token also complies with regulation. âOur Know-Your-Colon (KYC) process works with our bog-standard proof-of-wipe chain, facilitating each userâs KYC check that they are able to wipe by themselves, as users that donât fall into this category are unable to participate in the token sale,â the document detailed.Â
Cointelegraph reached out to Mary Ploppins, Peter Peuop and John Splashington butt received no replies as of press time.
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