What is Community Takeover (CTO)? A concept users need to keep in mind when trading mem...

Although a newcomer or veteran in the cryptocurrency market, one cannot deny the strong growth of memecoins over the seasons. In the previous season, we had DOGE, FLOKI, SHIB along with a few other memecoins in smaller quantities. But this season, we have a series of memecoins that have exploded strongly thanks to the Community Takeover (CTO). So what is CTO? Let's explore this concept through the article below. Community Takeover (CTO) - What is it? A concept that users need to be aware of when trading memecoins What is Community Takeover (CTO)? "Community Takeover" (CTO) is one of the concepts that memecoin traders in the cryptocurrency market need to know, alongside "Cabal" and "Jeet". This concept refers to a memecoin being taken over by the community and reducing the influence of the token creator on the price trend. It is precisely thanks to this concept that the community has been able to demonstrate its power in both the traditional and cryptocurrency financial worlds. We have witnessed the power of the community through the story of GameStop (GME) and Keith Gill along with the battle between the community of small traders and Wall Street. This proves that a large and united group can overcome the power of money. The impact of Community Takeover on the crypto market Community and Takeover - What are they? Throughout the history of human development, the community has always played a core role in the formation and development of society. The community is where people gather to share a common idea, goal, or plan. This gathering has been coded into the DNA of humans since ancient times, with the simplest forms being herds, tribes, or groups, gathering together for a common purpose. Reaching the present time, humans have faster forms of communication and expression of opinions. The most typical example is that the cryptocurrency community in Vietnam still knows about the interest rate decisions of the Fed on the other side of the globe through smartphones, laptops, and other devices. This also allows people in the cryptocurrency market to gather together to discuss a common topic. On the other hand, Takeover can be understood as a group of many people working together to take over a real product or asset. This can be seen most clearly through the memecoin segment of the cryptocurrency market. The impacts of Community Takeover on the crypto market To talk about one of the successful memecoins in CTO, we cannot fail to mention Billy, the cutest dog memecoin on the Solana network. Although it did not leave much impact on the price, it has laid the first foundations for the community to use it in the future. Most recently, the community has taught a 12-year-old trader "a lesson" about the power of CTO after the young trader rug pulled the QUANT memecoin. Specifically, during a livestream on pump.fun, this trader seized $30,000 from investors through the QUANT memecoin rug pull, angering many people. However, the incident did not stop there, the community instead of ignoring it, CTO'd and pushed the market cap of QUANT to over $80 million (as of November 20, 2024). This turned the initial investment that the 12-year-old trader rug pulled into $2 million if the boy still held this investment. Conclusion The above is all the information related to the concept of Community Takeover and its impacts on the financial market, especially cryptocurrencies. Through the article, Coin68 hopes to provide readers with the most comprehensive perspectives on CTO as well as the power of the community over a memecoin. Note: The information in the article is not to be considered investment advice, Coin68 is not responsible for any of your investment decisions. Investing in memecoins is quite risky, so you need to consider carefully and only invest a lottery-sized amount of capital. Wish you success and make a lot of profits from this potential market.