Toilet Paper Token has surged over 1,000% in price as people flocked to the now-sold out asset.
It’s April Fool’s day somewhere, or at least in CoinMarketCap’s neck of the woods, as the cryptocurrency data site saw massive volumes for new “Toilet Paper Token.”
A website known for listing cryptocurrencies in order of market cap value, CoinMarketCap, listed Toilet Paper Token (TPT) as number “0” atop its list on March 31, showing a circulating supply of “out of stock.”
Although it’s still March 31 in some parts of the world, the annual day of pranks has already reached parts of the Asia-Pacific.
Bringing a bit of light-heartedness during tough times
April Fool’s day 2020 comes in the midst of coronavirus fears and falling markets.
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.
CoinMarketCap’s 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 token’s chart showed the asset recently completed a nice double-bottom pattern, which has historically led to increased price rallies.
Clicking on the token reveals a “Wipe Paper”
Tapping the token itself leads to the asset’s “Wipe Paper” — a joke on the white papers that start man cryptocurrencies. The paper shows an April 1 date.
The write-up details toilet paper through the ages, leading to present day consumers, which have stocked up on much more of the commodity since late 2019.
TPT’s Wipe Paper mentions tokenizing toilet paper, harnessing “smut contracts,” touting “Airplops,” and an “Initial Scattering Offering,” or ISO. The paper lists a Total supply of 8 billion tokens, available for purchase on the “Shitake Exchange,” on April 1.
Toilet Paper Token also complies with regulation. “Our Know-Your-Colon (KYC) process works with our bog-standard proof-of-wipe chain, facilitating each user’s KYC check that they are able to wipe by themselves, as users that don’t fall into this category are unable to participate in the token sale,” the document detailed.
Cointelegraph reached out to Mary Ploppins, Peter Peuop and John Splashington butt received no replies as of press time.