MEME Token Pumps Up 20,000% on DEXTools But Experts Say It’s a Scam and Prefer These New Coins Instead - Here’s Why
A newly-listed crypto project, MEME token, took the crypto space by storm after it clocked over 20,000% in 24 hours.
While this would seem like a profitable trade to enter, many crypto experts believe it might be a honeypot scam due to its irregular chart pattern.
The project also scored poorly in the community votes on DEXTools, which raises doubts about its authenticity.
Nonetheless, not all nascent crypto projects fall under this ignominious light.
Crypto investors are paying close attention to more genuine meme projects, including Wall Street Memes, Thug Life, and Safemoon 3.0.
The crypto market is back on the bullish track as it eyes a $1.2 trillion market valuation.
Several altcoins are posting significantly as buying pressure increases. Meanwhile, a new meme crypto token, MEME, is stealing all the spotlight.
With little to no useful information on its platform, the MEME token has posted over a 20,000% price gain with a current price tag of $0.00001689.
The meme crypto project has a trading volume of over $71,500, with 152 transactions so far.
However, what has caught the attention of many crypto experts is that the platform misses several key integrity metrics, which could potentially impact its trajectory positively.
Firstly, it has a low community trust, evident from the votes of only 73 individuals. Only 2.7% voted in favor of the project, while a staggering 97.3% gave it a low score.
Another concerning metric is its blacklisting by several crypto aggregator websites like DEXTools, which raises suspicions of it being a potential honeypot scam project.
Adding to the project's rocky start, the MEME token's trading chart is also quite queer, as it only trends upwards.
This could easily be the work of a few traders trying
Read more on cryptonews.com
