A meme coin called PLUMBER has surged more than 10,000% since its launch, riding a viral Crypto Twitter argument over whether early crypto traders once beat weaker rivals.

The token’s market capitalization climbed from below $1 million to above $5 million on its first day, then pulled back and held in the multimillion-dollar range.

What is PLUMBER Meme Coin?

According to analyst Stitch, it all began with a simple post. Trader Frank DeGods claimed crypto veterans were trading against weaker retail players he called “plumbers.”

Follow us on X to get the latest news as it happens

Commentator Threadguy pushed the point further. He suggested that legendary traders from 2017 to 2019 simply faced softer competition.

Trader Ansem pushed back. He argued those years were brutal, full of scams, leverage wipeouts, and tokens that later collapsed to near zero. The exchange hardened into a running theme on Crypto Twitter, framed as “oldheads versus plumbers.”

A developer then created the PLUMBER meme coin. Moonshot also verified it earlier today.

“Then someone did what CT always does: tokenize the attention. PLUMBER didn’t create this meme. The dev simply saw the ‘oldheads vs plumbers’ debate heating up and deployed a token right in the middle of it,” Stitch said.

Attention Is Doing the Heavy Lifting

Trading volume has surged to $14.2 million as the meme spread across group chats and timelines. Well-known accounts amplified it. Cobie posted plumber memes, and traders, including traderpow and ResellCalendar, bought into the token.

That created a familiar feedback loop. Social attention drew key opinion leaders (KOLs), capital followed, volume rose, and fresh visibility pulled in more buyers. The chart tracked the frenzy.

Yet, the token carries risks. Similar attention-driven rallies tend to fade. Cash Cat (CASHCAT) jumped roughly 4,000% in a week during July before the rally lost momentum. 

Coinbase Man (BRIAN) jumped from under $1 million to $37 million after CEO Brian Armstrong changed his profile picture. The token crashed roughly 90% once he reverted it.

“The bundle is currently around 60%…For a token this dependent on momentum, the worst combination would be the narrative cooling down while supply starts hitting the market at the same time. That can turn a strong chart into a completely different setup very quickly,” Stitch added.

For now, PLUMBER’s momentum depends on the meme staying loud. Whether the developer builds anything beyond the joke remains an open question.

Subscribe to our YouTube channel to watch leaders and journalists provide expert insights

Source: BeInCrypto