A viral tweet from @KookCapitalLLC on April 18 has reignited concerns about scams in the crypto world. Shared with a dose of humor, the tweet called out the “crypto scammer starter pack” — highlighting classic red flags like get-rich-quick promises, shady token launches, and vague project details. But while the tweet made people laugh, it had very real effects on the market.
Shortly after the post gained traction, major cryptocurrencies like Bitcoin and Ethereum saw slight price dips. Bitcoin dropped by 0.3% to $67,450 and Ethereum followed with a 0.2% slip to $3,210. Meme coins like Dogecoin and Shiba Inu were hit even harder — falling 2.5% and 3.1% respectively. Trading volume for these altcoins surged by 15% as traders reacted quickly, selling off or repositioning their portfolios.
The Crypto Fear & Greed Index also took a hit, moving from a ‘Neutral’ reading to ‘Fear’ by the end of the day. That shift shows how even a joke online can trigger real anxiety in a market still wary of scams and uncertainty.
On the technical side, trading activity soared across centralized exchanges, with Coinbase reporting a 25% increase in volume. Meanwhile, decentralized exchanges (DEXs) saw a 10% jump in volume too — likely a sign that traders are seeking more control over their funds during times of market unease.
Ethereum’s RSI (Relative Strength Index) dropped to 45, suggesting potential overselling, while its MACD indicator flashed bearish. Bitcoin’s RSI held steady at 55, signaling a more stable outlook.
Interestingly, AI-focused crypto projects like SingularityNET (AGIX) and Fetch.ai (FET) stayed calm during the shake-up, with no major price swings. But if scam concerns continue to grow, even solid new projects may face reduced investor confidence and slower trading.
Bottom line: While the tweet might’ve been posted in good fun, it served as a timely reminder — scams are still out there, and due diligence is a must. The market’s reaction shows just how sensitive traders are to trust-related issues. As always, stay alert, question the hype, and don’t let FOMO guide your wallet.
