Mr. Hankey Coin to Celebrate Christmas 5 Months Early with Huge Token Burn

Updated: 17 July 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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The recently launched South Park-themed cryptocurrency, Mr Hankey Coin ($HANKEY), has gained significant traction in the Web3 space following its debut on the Uniswap cryptocurrency trading platform.

And now its value is looking to receive a further boost when around 50 million tokens of the 1 billion available are burnt later today.

The coins were set aside for Mr Hankey team members and developers, but today at around 2pm EST 5% of the total available pool of tokens will be destroyed, in a measure that often serves to raise the value of the remaining coins, as their scarcity increases.

Mr Hankey Coin leverages the viral themes of the highly successful and influential cartoon South Park, capitalizing on the notion that the term “shitcoin,” previously seen as derogatory, now represents a promising opportunity.

#HowdyHo folks. $Hankey is about to give all holders an early Christmas present. He's going to take an obscene amount of tokens and send them to a watery grave!

We will be conducting a massive burn of #mrHankey tokens. Keep your eyes on this turn, cause it's happening soon! pic.twitter.com/44GAe23jeV

— Mr Hankey (@MrHankeythecoin) July 17, 2023

Mr. Hankey went into presale on July 13, and sold out within just 10 hours, generating $500,000 in the process. The speed of the presale closure accelerated the move to a decentralised exchange, and by midday EST on July 14 the coin was up and running on Uniswap.

Shortly after trading began, Mr Hankey peaked at $0.0000017342 before pulling back as low as $0.0000004412 by 6pm EST on July 15. Its total liquidity is now just above that of its presale total, at $503,000, and $334,000 worth of Mr Hankey was traded during the past 24 hours, according to the DexTools cryptocurrency price analytics website. The total market cap has now reached almost $2 million.

What Does The Future Hold?

Price retraced quickly from the Saturday low to the 38.2% fibonacci level by Sunday evening EST, and shortly thereafter pinged almost to the golden zone at 61.8% of the retracement. Currently, at 8.30am EST, Mr Hankey is holding just under the 50% fibonacci level, at a discount price of $$0.0000010591.

A return to the 61.8% area at and above $0.0000012403 is very likely, possibly even to the 76.4% level at $0.0000014290. The 23.6% fibonacci is acting as a strong support level at this time, so a pull back to this price at $$0.0000007463 then a pump into the golden zone is also a possibility.