Magic Internet Money: The Wild Ride of a Meme Coin That Went Boom and Then BANG! 💥

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Oh, gather ’round, dear friends, for a tale of Magic Internet Money (MIM) that soared like a kite on a windy day, only to plummet faster than a cat in a bathtub! Earlier today, this cheeky little meme coin, born from the whimsical world of Bitcoin (BTC) culture, reached dizzying heights before crashing down a staggering 79% from its peak. What a rollercoaster ride! 🎢

Now, you might wonder, what caused this ruckus? Well, it seems there were no shiny new updates, no fancy partnerships, and certainly no grand exchange listings to explain the sudden surge. Instead, it was the lively chatter of the community that set the stage for this spectacle. Some say a cheeky post from Kraken, a crypto exchange, might have been the spark that lit the fuse! 💣

What on Earth is Magic Internet Money?

Let me take you back to the beginning! Magic Internet Money (MIM) is a delightful little meme coin inspired by the legendary ‘Bitcoin Wizard’ meme. It all started when Mavensbot, with a sprinkle of creativity, whipped up an MS Paint masterpiece for a Reddit ad back in 2013. The ad was a hit, tickling the fancy of early Bitcoin enthusiasts! 🎨

Over the years, the community has embraced the “Magic Internet Money” meme, using it to celebrate Bitcoin’s quirks and poke fun at its naysayers. Oh, the joy! 😄

Every major CEX loves Magic Internet Money

Every single one!

— Magic Internet Money (@mimcoinbtc) June 13, 2025

Fast forward a decade, and our dear creator decided to turn the meme into a real-life MIM coin using the Runes Protocol in April 2024. This nifty little protocol allows for the creation and management of digital tokens on the Bitcoin blockchain. How clever! 🧙‍♂️

Now, here’s the kicker: MIM was launched without any presale or pre-mining. It sat quietly for a month, like a cat waiting to pounce, with no transactions or secret wallets hoarding tokens. It wasn’t until Mavensbot tweeted that the minting frenzy began! All 21 million tokens were out there, just waiting to be snatched up! 🐱‍👤

Why Did Magic Internet Money Soar and Then Crash?

Picture this: the price was as calm as a sleepy Sunday afternoon, and then—BAM! MIM shot up by a whopping 417.6% from around $0.0017 to $0.0088, reaching a new all-time high (ATH) for our beloved meme coin! 🎉

But hold your horses! The high was as fleeting as a magician’s trick, and soon the price tumbled down. As I write this, MIM is trading at $0.0018, down 79% from its glorious peak. Ouch! That’s a loss of around $145 million in market value, dropping from 184.3 million to a mere 38.8 million. Talk about a dramatic fall! 😱

Despite this sharp decline, MIM still managed to be up by 37% over the past 24 hours, snagging the second spot among the top daily gainers on CoinGecko. Not too shabby! 🥳

In fact, MIM recorded a 19.6% price increase over the last week, outshining Bitcoin, which took a little dip of 2.7%. And guess what? A whopping 88% of investors are still feeling bullish about this meme coin! 🐂

Rumor has it that the rally was sparked by Kraken’s cheeky post about ‘Rune June.’ The crypto community on X has dubbed this period as ‘Rune June,’ a time of excitement and interest in tokens created using the Runes Protocol. How delightful! 🎈

“So it looks like Magic Internet Money MIM is up 8x today. Could be related to the @krakenfx bullish news,” a user posted.

The most hated rally in crypto history is coming.

— Magic Internet Money (@mimcoinbtc) June 16, 2025

The community is buzzing with anticipation for a listing of MIM on the exchange, which could be the cherry on top of this wild sundae! 🍒

“The community has done amazing work recently with new exchanges coming on board every week, trading volumes are growing, and there are so many catalysts on the horizon for Runes, not least @krakenfx soon to be listing DOG – MIM will inevitably follow shortly after,” another user stated.

As of now, Kraken hasn’t confirmed an official listing, but MIM has secured a cozy spot on Biconomy’s trading platform. Traders are taking a keen interest in MIM, and according to Xverse, it was the third-most purchased and the second-most sold Rune on June 16. Quite the busy little bee! 🐝

“DOG, BILLY, and MIM are cooking again, with MIM up 200% in swap volume. Rune June’s back in business,” Xverse stated.

As we sail through this supposed Rune June, will it trigger another pump for MIM? Only time will tell! The strong bullish sentiment is like a warm hug, but the price crash is a gentle reminder to tread carefully. After all, the world of meme coins is as unpredictable as a cat on a hot tin roof! 🐱‍👤

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2025-06-17 15:09