XBTC Coin is Up 30,000% Today But Crypto Experts are Saying This Lesser-Known Project is the Next Crypto to Explode
In the latest jaw-dropping DEX skyrocket, Bitcoin spin-off token XBTC has exploded up +30,000%, but is all as it seems as experts warn it could be a scam.
The alluring pump comes on the tail-end of a wider interest in Bitcoin DEX tokens in recent weeks, which saw rival projects such as BITCOIN2 post equally impressive moon-shots.
Fuelled by almost $210k in volume, XBTC has exploded in an incredible display of almost exclusively green candles from a launch price at $0.00001 to a current trading price of $0.0005832.
DEX markets are in awe at the sensational +31,078% move, which has seen an intrepid group of more than 300 DEX traders take position as bag holders.
Yet, despite an alluring $198k in locked liquidity, the outstanding price action and technical structure, without even a since retracement or consolidation move - has emerged as a huge red-flag.
Indeed, in a classic case of 'too good to be true' it appears that XBTC is likely a scam coin according to DEX market experts.
And hidden within XBTC's smart contract there is confirmation, with a small line setting a 100% sales tax.
A sales tax is normally a small cut of every transactional trade which goes to the creator of the project, however, in the instance of XBTC - with its 100% sales tax - the entire proceeds of the sale are 'taxed' during the transaction.
This is a classic 'honey pot' scam operation, in which investors are tricked into putting their money in an investment which they later cannot realize the paper gains on.
However, while more than $200k has been lost to XBTC, which has no doubt taught a lesson in due-diligence to 340 bag holders - smart money have moved onto a crypto presale emerging as the biggest meme coin launch of 2023.
As the meme coin vertical makes a
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