MASK has risen by 600% in the past 24 hours, with the new meme token’s move to $0.0008357 also representing a hefty 5,000% rise since it listed on Uniswap.
While this rise puts most major cryptocurrencies to shame today, MASK looks like yet another junk meme token, with very little in the way of an organic community or team.
It could therefore be another cynical pump-and-dump, one which may possibly be benefitting from being confused with the hotly anticipated native token of the MetaMask wallet.
But while MASK is likely to collapse in price sooner or later, other new meme tokens do boast the followings and support needed to have a more sustainable existence, with Wall Street Memes (WSM) being one of the best examples right now.
While MASK Token Shoots Up 5,000% Crypto Experts are Stacking This New Meme Coin as the Next Crypto to Explode
It needs to be observed from the outset that MASK’s chart exhibits the patterns typical of very shortlived junk meme tokens, with its price currently flatlining as a result of its volume declining to nothing.
Given that its market is so thin (or, rather, non-existent), retail investors should be very wary of a rug pull, which generally always happens with meme tokens with no real community.
Based on the popular Mask character (as seen in mildly entertaining films starring Jim Carrey), MASK is almost certainly one of these coins.
It has no discernible presence online, although it’s possible that it’s piggybacking on the growing excitement surrounding a MetaMask token.
Regardless, investors should steer well clear of it, and if they still want to invest in new meme tokens, they should look for examples with genuine followings.
Probably the most promising instance of such a token is Wall Street Memes (WSM), an ERC-20 cryptocurrency that has already raised more than $14.2 million in its presale.
In contrast to an out-of-nowhere token such as MASK, Wall Street Memes has roots in the meme stocks movement, which gave rise to the 2021 GameStop and AMC rallies.
This is evident not only in its ability to raise over $14 million so quickly, but also in the fact that its Twitter account now has over 252,000 followers.
Such an online presence and reach is hugely significant in the context of meme tokens, since it suggests that WSM will have the support and community necessary if it’s to witness recurring rallies and attract new buyers.
The meme token will have a total maximum supply of 2 million WSM, with 50% of this dedicated to the presale and 30% reserved for community rewards.
Again, this allocation for community rewards will help incentivize greater involvement from investors and supporters, which in turn should maintain WSM’s price for the longer term.
Investors can get involved in the presale by going to the official Wall Street Memes website, with 1 WSM now available for $0.0316.
This will reach $0.0337 by the time the presale closes, but WSM’s expanding community could mean that it ends up much higher soon enough.
Visit Wall Street Memes Now
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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