🏆ConstitutionDAO might have lost the battle for the rare Constitution , but its community is still shooting for the stars and winning the DAO War.
Those who contributed to ConstitutionDAO have seen their PEOPLE tokens rise by some 4,000% after the decentralized autonomous organization failed to buy the U.S. Constitution. But it's not just the price that's been growing.
Seems like just few weeks ago the Constitution DAO emerged on the scene, and once again the “We The People” movement is the talk of the Crypto Twitter town and sparking new excitement and hitting ATH!
The collectives new derivative project, PEOPLELAND, lets donors mint a virtual plot of land for free. Only those who 'who made history' can mint tokens for free.
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Crypto exchange OKEx has listed it and the coin traded $384,544,565 in the last 24 hours, according to data from CoinMarketCap. Regardless of how you look at it, the market's accommodating for the coin in the same way it accommodated for other hyped projects, like Shiba and Dogecoin.
Despite the growth, ConstitutionDAO has formally shut down and closed up shop. The DAO's creators raised a little over $45 million to buy a rare copy of the U.S. Constitution but were beaten at the final hour by Citadel CEO, Ken Griffin.
The DAO technically had enough money to win the bid but decided not to because they didn't have enough ETH to look after the rare document, and decided to refund all the funds.
Since then, the token has skyrocketed in value. This is partly because the refunds reduce the number of PEOPLE tokens in circulation, boosting the price of individual PEOPLE tokens. But the whole market still has worth because people are very excited about what PEOPLE could become.
Chinese investors are particularly excited about the token; an unofficial chat for the project already has over 40,000 members. Because of the caliber of collaborators and creators ConstitutionDAO attracted, and because of all the interests from no-coiners, investors are excited.
Lots of traders think it's the next Shiba Inu token, which itself was the successor to Dogecoin. It's clear that PEOPLE could quickly become the next hot meme coin, and can become useful per se because of the spirit of its talented community.