L The Memecoin Price Prediction - Can the Elon Musk Inspired Crypto Pump?

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The introduction of bizarre but surprisingly profitable memecoins in the cryptocurrency industry is anything but unusual. While the overall market still seems to be making attempts to recover, another trending memecoin called “L” has managed to make its way to massive popularity.

Naturally, memecoin enthusiasts found out and started stocking up on the crypto early, with hopes of potential profits. But now that the token has launched officially, a majority of them have been wondering what L’s price action may look like in the upcoming weeks.

Bitcoin, the leading cryptocurrency, has exhibited bullish indications by maintaining its position within the $30k range for an extended period of over a week.

With major altcoins also displaying renewed strength, it may be plausible to anticipate a price surge for L in the near future. This could also likely be due to its incredibly popular and distinctive concept, which has been capturing significant attention in the market.

What is the L Memecoin All About?

Any investor with little experience in the crypto market may be aware of Elon Musk’s influence on the industry. As the CEO of prominent companies such as Tesla and SpaceX, Musk has consistently expressed his fascination with the world of blockchain technology. In fact, he has gone as far as endorsing certain memecoins, albeit for a brief period of time, further solidifying his involvement and impact within the crypto space.

L the Memecoin has been designed as a tribute to the tech billionaire, aiming to foster a devoted community around him while simultaneously supporting his recently acquired business venture, Twitter.

The creators of L allegedly drew inspiration from a statement made by Musk in 2016, where he expressed his fondness for the character named L in Death Note, a renowned Japanese manga series. The memecoin’s website highlights this theme, further emphasizing its connection to Musk and his interests.

An important aspect that has significantly propelled the project’s popularity is its implementation of a blue tick verification requirement on Twitter.

According to the information available on the website, only users with a blue tick verification will be eligible to subscribe to the project’s official Twitter handle. This particular feature serves two purposes as outlined by the project:

Creating an authentic community: By mandating blue tick verification, the project aims to ensure that its community consists of real individuals rather than automated bot accounts. This measure is intended to foster genuine engagement and interaction among the members.
Demonstrating support for Elon Musk: The subscription fee for obtaining a blue tick serves as a way for supporters to show their backing for Elon Musk. It acts as a symbolic gesture of support towards him and his endeavors.

Will L Pump in the Short-term?

Although the project has successfully leveraged its exclusivity-based theme thus far, predicting the growth potential of L the Memecoin after its launch becomes uncertain.

This is primarily due to a cunning campaign initiated during the project’s early phase, where it pledged to airdrop tokens to community members with greater “clout” on their Twitter accounts.

Essentially, the developers claimed that they would airdrop a higher amount of L tokens to community members who had a bigger following and received a higher engagement on their Twitter handles.

Several popular influencers in the crypto space posted tweets endorsing the project, with screenshots of impressive amounts of airdropped tokens they received.

Claimed my $L free juice 🥤

Token is currently sitting at 26M MC

I know the team behind has recently launched a coin went up to 100X

This time I’m going to try my luck and patiently let it run up 100MC on this one.

All in or all out. Peace ✌🏽 https://t.co/1JiidLPuz5

— Eunice D Wong 🦄 (@Eunicedwong) June 27, 2023

The token, however, launched officially on 26th June, taking away with it any chance for people to participate in the airdrop.

Many believe that this alone was the incentive that attracted people to join the community. Moreover, the official website of L currently features no roadmap beyond the 26th of June, and nor does it talk about what its future plans would be other than creating an online community dedicated to Elon Musk’s followers.

But despite all these reasons, the social media channels of L have been receiving high engagement, with a majority of investors expecting the token to pump in the upcoming days.

At the time of writing, L the Memecoin is currently trading in the range of $0.0000093, experiencing a decrease from its initial listing price of $0.00002.

However, there are indications that the project may be laying the foundation for a significant upward movement in the near future.

This is primarily due to its escalating popularity and exposure across social media platforms, as well as the recognition of cryptocurrency aggregators like CoinmarketCap.

Several Twitter users also speculated that the project has great potential to reach $0.00005 within the coming week as its popularity continues to surge and it garners a growing number of followers and investors.

So, in terms of short-term gains, L could be an excellent addition for investors looking to make profits off the popularity of best memecoins.

L might have gotten some initial traction due to its airdrop to Twitter Blue users (details provided below), but it is not likely to have any long-term upside.

50% Tokens Airdropped to Twitter Blue Users

The aforementioned airdrop was not merely a token gesture for exposure purposes; rather, it constituted a significant portion of the token distribution plan.

Specifically, 50% of the total token supply was allocated for the airdrop. With a total token supply of 1 trillion, a substantial 500 billion tokens were airdropped to eligible Twitter Blue users.

Following the airdrop, only 25% of the remaining tokens were listed on the Uniswap exchange, making them available for trading. This distribution strategy aimed to generate widespread interest and engagement among the community members while ensuring a limited initial listing on the exchange.

Indeed, while the distribution strategy may raise some skepticism, the developers seem to have a way-forward plan that complements the current arrangement of the project’s tokenomics.

To further expand the availability of L tokens, 20% of the total token supply has been allocated for Centralized exchanges. This enables users to potentially acquire the tokens through these exchanges, increasing liquidity and accessibility.

The remaining 5% has been reserved for the project team, which is a common practice to incentivize and support the ongoing development and maintenance of the project.

WSM Would Make a Better Alternative to L The Memecoin

While L has burst into the scene by leveraging Elon Musk’s popularity, there is a better alternative – Wall Street Memes.

Literally

— Elon Musk (@elonmusk) March 18, 2023

Wall Street Memes is a memecoin project inspired by Wall Street Bets. What makes this project special is not just its community aspect but also the fact that Elon Musk has interacted with this community.

So, it is safe to say that Wall Street Memes already has the notoriety going for it that’s needed to make it go big in the future.

The current Wall Street Memes presale has already raised close to $11 million already. And the recent $50k giveaway is also attracting more takers for this memecoin project.

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