UFO hearing: Crypto degens spare no time crafting 50 alien shitcoins


Crypto degens have been quick to try and capitalize on a widely-watched hearing where former United States government officials have claimed the existence of alien spacecraft and “biologics.”

Testifying under oath at the House Oversight Subcommittee on National Security, David Grusch, a former Pentagon task force member on Unidentified Aerial Phenomena (UAP) and whistleblower, accused the U.S. government of covering up alien visitation to Earth.

The July 26 hearing has since gone viral, prompting over 50 alien, UFO, or other extra-terrestrial themed-tokens to crop up over the last 24 hours.

While Grusch admitted he couldn’t provide answers to specific questions due to much of the information remaining classified, he said that the United States government was in possession of “non-human” spacecraft. Citing Pentagon sources who still worked on the UAP program, Grusch claimed that there were “non-human biologics” found onboard these craft.

Also testifying at the hearing was executive director of Americans for Safe Aerospace Ryan Graves and retired Navy Commander David Fravor.

Notably, Fravor was responsible for capturing now-infamous footage of a “tic tac” UAP off the West Coast of the U.S. in 2004. Fravor noted that the “tic tacs” were capable of staying completely still in gale-force winds, leading him to conclude that the UAP’s were “far beyond the material science that we currently possess.”

Wasting no time, crypto degens have already pumped out a flood of new extra terrestrial-themed shitcoins.

According to data DexTools — a platform that allows traders to view a wide array of unverified, low market cap tokens — more than 50 alien, UFO and otherwise extra-terrestrial-themed tokens, sporting tickers like “ALIENX,” “UFO,” and “ALIEN” have cropped up in the last 24 hours.

Related: New AI memecoin Shiba Memu raises $798K in nine days

It’s worth noting that many brand new memecoins are often “honeypot” scams, that utilize hype around a certain topic in an attempt to attract investors, but are designed with mechanisms that prevent FOMO-driven investors from selling their tokens after they’ve bought in.

Fortunately, the vast majority of the new tokens have witnessed little to no trading activity despite the subject trending on Twitter and Google searches.

Still, some of the slightly larger alien-themed memecoins yielded some slightly improved performance. According to data from CoinGecko, the UFO Gaming Token (UFO) gained 2.4% in the last 24 hours while the AlienFi token (ALIEN) was up 5.9%.

Magazine: How smart people invest in dumb memecoins — 3-point plan for success

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