‘Tis the Season for DYOR on Memecoins

There’s only a handful of days left before Santa Claus makes his nocturnal delivery run around the world, so you know what that means: That’s right, Christmas memecoins are everywhere!

Christmas is the king of holiday-inspired memecoins––and BNB Chain is the undisputed champion of these fun, but incredibly volatile nanocap tokens.

Let’s check out four new Christmas memecoins listed on CoinGecko, but as always -- and especially in this case -- always, always DYOR before you even think about dropping any of your hard-earned $BNB.

1. Merry Christmas Token

Merry Christmas Token puts an interesting spin on the usual approach to holiday memecoins. Instead of buying, holding, and praying for a pump -- $MCT purchasers can also buy and sell Christmas Box Non-Fungible Tokens (NFTs) that will be “unwrapped” on Christmas Day.

A few hours after the MCT token’s launch, the price held steady with a market cap of just under $400,000.

2. Floki Santa

In a way, there’s more than meets the eye with Floki Santa. In another way, there really isn’t.

Rather than being a holiday spinoff of another memecoin, Floki Santa attributes its roots to an Elon Musk tweet of “a photo of his dog in a Santa costume with the caption ‘Floki Santa’.”

The bullish case for $FLOKISANTA: “In 2022, our team expects Musk will tweet about ‘Floki Santa’ again, creating another crypto Christmas miracle.”

Good luck with that!

In the 24 hours since the token’s launch, the price of $FLOKISANTA had risen 20% and the market cap was just above $250,000.

3. Christmas Floki

Christmas Floki has the hallmarks of a classic holiday memecoin project.

“From the team that brought you Valentine Floki and Halloween Floki,” Christmas Floki has a 9% buy/sell tax, with 4% going to token holders in the form of $BUSD reflections.

Will those reflections cover potential losses if $FLOC tanks? We’ll find out soon!

Since launching Dec. 6, the price of $FLOC had dropped by 66% and the market cap was about $280,000.

4. Christmas Shiba

Christmas Shiba is a holiday memecoin for degens who prefer Shiba memes to other memes like Floki.

A portion of the buy/sell tax will go to rewards for token holders, and according to the website, “Holding XSHIB can mind SHIB. When you hold XSHIB, you get SHIB.”

An interesting wrinkle to this memecoin is a “Legal Opinion Letter” posted on the website, attributed to a Delaware law firm, concluding that $XSHIB does not qualify as a security under U.S. law.

That’s the holiday spirit!

In the hours after its launch, the price of $XSHIB had remained relatively stable with a market cap of about $1 million.

Remember: It can be fun to gamble funds on memecoins, especially during the holidays. There’s even a possibility you could make profits. However, there’s a much greater possibility you’ll miss the pump, or be late for the dump, and be left holding the bag -- which, unlike Santa’s magic bag, will be filled with losses, not presents.