What is Tiger King coin and why is its price soaring? Here's all you need to know

Tiger King coin is the latest obscure coin in cryptocurrencies. A lot of memes and a series of tweets later, the coin is now soaring in price. Endorsed by prominent social media influencers, Tiger King Coin has now risen by more than 900 per cent since the start of July.

What is Tiger King Coin?

The Tiger King Crypto Coin, launched in May, is the latest meme coin on the Ethereum blockchain to soar in prices. The cryptocurrency is claiming to be the “official coin” of the popular Netflix series Tiger King. The documentary series, which launched in March 2020, explored the bizarre underworld of Tiger breeding. Tiger King Coin, which dropped in May, was ranked as the 2,663rd most valuable token according to CoinMarketCap, with each coin worth just 7/10,000th of a cent.

The token is currently being endorsed by Joseph Maldonado-Passage aka Joe Exotic, the star of the Netflix series. Joe was convicted in 2019 and sentenced to 22 years in jail on 17 federal charges of animal abuse and attempted murder. The ‘Tiger King’ was convicted for hiring someone to kill Carole Baskin, an animal-rights activist. According to the meme coin’s website, the token is focused to ‘fight a corrupt legal system’.

What is the Tiger King Coin hype about?

Much like Dogecoin, which started pumping after a series of tweets by Tesla CEO Elon Musk, the coin started its soar after tweets by popular YouTuber Matt Wallace. Also known for being a major dogecoin investor, Matt tweeted his support for the token this week, prompting an immediate price surge. “I feel like $Tking (Tiger King Coin) is going to go crazy when season 2 of Tiger King comes. I am buying it up fast,” he tweeted. Later, the YouTuber also revealed in a subsequent tweet that Tiger King Coin was his second-largest cryptocurrency holding after the popular dogecoin.

It is CAT vs Tiger Coin

Last month, a new meme coin had emerged as Joe Exotic’s fellow Tiger King star Carole Baskin launched her own cat-themed cryptocurrency. The crypto token called CAT had also seen massive price volatility in recent weeks. The latest cryptocurrency news is suggesting a market fight between the two coins. “Our new $CAT coin is not a currency for investment, but rather is a purr-ency of our fans to show their love for the cats,” Tiger King’s Carole had earlier said.

IMAGE: TIGER KING COIN TWITTER