Toilet Paper Token Sees Short Supply on CoinMarketCap on April Fool’s Day

It’s April Fool’s day, and CoinMarketCap sees massive volumes for new “Toilet Paper Token.”

A website known for listing cryptocurrencies in order of market cap value, CoinMarketCap, placed Toilet Paper Token (TPT) as number “0” on the top of its list on March 31, showing a circulating supply of “out of stock.”

A bit of light-heartedness during hard times

April Fool’s day in 2020 comes amid coronavirus panic and tumbling markets.

As numerous governments worldwide tell people to stay home, and supplies diminish, people have taken to the shelves, buying massive amounts of toilet paper. Such demand has led to shortages.

CoinMarketCap’s Toilet Paper Token is valued at around $1.64 at the time of writing, being up 1,123.97% over the past 24 hours, with $41,758,500,000 in volume.

The token’s chart showed the asset recently completed a nice double-bottom pattern, which has historically caused increased price rallies.

Clicking on the token leads to a “Wipe Paper”

When you click on the token itself, you get to the asset’s “Wipe Paper” — a joke on the white papers holding information about many cryptocurrencies. The paper shows an April 1 date.

The writing tells the history of toilet paper, leading to present day consumers, which are holding much more of the commodity since 2019.

TPT’s Wipe Paper speaks about tokenizing toilet paper, creating “smut contracts,” boasting “Airplops,” and an “Initial Scattering Offering,” or ISO. The paper indicates a total supply of 8 billion tokens, available for purchase on the “Shitake Exchange,” on April 1.

Toilet Paper Token also complies with regulation. According to the “Wipe Paper”:

“Our Know-Your-Colon (KYC) process works with our bog-standard proof-of-wipe chain, facilitating each user’s KYC check that they are able to wipe by themselves, as users that don’t fall into this category are unable to participate in the token sale.”