It's April Fool'southward day somewhere, or at least in CoinMarketCap's neck of the forest, every bit the cryptocurrency data site saw massive volumes for new "Toilet Paper Token."

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

Although it'south still March 31 in some parts of the globe, the annual day of pranks has already reached parts of the Asia-Pacific.

Source: CoinMarketCap.com

Bringing a fleck of light-heartedness during tough times

April Fool's twenty-four hour period 2022 comes in the midst of coronavirus fears and falling markets.

In lite of various world governments telling folks to stay domicile, every bit well every bit supply shortage anxiety, people have taken to the shelves, buying mass quantities of toilet paper. Such demand has caused shortages.

CoinMarketCap's Toilet Paper Token sits at a press time cost of $1.64, upwards ane,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 led to increased price rallies.

Clicking on the token reveals a "Wipe Paper"

Tapping the token itself leads to the asset'south "Wipe Paper" — a joke on the white papers that start many cryptocurrencies. The paper shows an April ane date.

The write-up details toilet paper through the ages, leading to present-twenty-four hours consumers, who have stocked up on much more of the commodity since late 2022.

TPT'due south Wipe Paper mentions tokenizing toilet paper, harnessing "smut contracts," touting "Airplops," and an "Initial Handful Offer," or ISO. The paper lists a total supply of 8 billion tokens, bachelor for buy on the "Shitake Exchange," on April 1.

Toilet Paper Token also complies with regulation. "Our Know-Your-Colon (KYC) process works with our bog-standard proof-of-wipe chain, facilitating each user'due south KYC bank check that they are able to wipe past themselves, equally users that don't fall into this category are unable to participate in the token auction," the document detailed.

Cointelegraph reached out to Mary Ploppins, Peter Peuop and John Splashington butt received no replies as of press time.