People Coin(ContitutionDAO), also known as $PEOPLE , was created in November 2021 as part of ConstitutionDAO. The DAO, or Decentralized Autonomous Organization, was an ambitious experiment aimed at purchasing an original copy of the United States Constitution.
People Coin Objectives:
* ConstitutionDAO Funding: PEOPLE was the native token of the DAO, used to raise funds to purchase the Constitution.
* Governance: PEOPLE holders would have the right to vote on decisions regarding the future of the Constitution and the DAO.
Starting Price and Volatility:
* Starting price: PEOPLE launched at a price of $0.06.
- Extreme volatility: PEOPLE's price fluctuated drastically in its early days, rising to $0.40 before falling below $0.10.
People Coin (PEOPLE) is trending today, May 24, 2024, for a few reasons:
1. Launch of the new “We The People” token:
= On May 23, ConstitutionDAO announced the launch of the “We The People” (WTP) token.
WTP was created to replace PEOPLE and give holders more control over the future of the DAO.
This news generated positive expectations around PEOPLE, leading to an increase in demand and, consequently, in price.
Low trading volume:
PEOPLE has a very low trading volume, which makes it more susceptible to sudden price movements.
* A small increase in demand can lead to a large increase in price.
However, it is important to remember that PEOPLE is a high-risk investment