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Polymarket CEO warns traders are chasing 100x tokens for quick flips

Shayne Coplan, CEO of Polymarket, said the rush to get in early reflects “irrational exuberance,” and he described buyers trying to sell before a token falls back toward zero.

Reported · Written up by our desk · Market Structure

Polymarket CEO Shayne Coplan said cryptocurrency trading is increasingly driven by a rapid search for “100x” tokens, a dynamic he likened to a game of “irrational exuberance.”

Speaking during a fireside chat at Token2049 Singapore on Wednesday, Coplan said some traders buy tokens they view as having questionable value specifically because they anticipate the assets could rise enough for a quick exit.

He described the strategy as traders trying to sell before a token loses momentum, arguing that the behavior centers on the hope of large gains rather than the underlying asset.

Cointelegraph reported the comments as part of its coverage published Oct. 7, 2026.

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