{"id":30089,"date":"2023-07-01T08:44:28","date_gmt":"2023-07-01T12:44:28","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/meme-token-pumps-up-20000-on-dextools-but-experts-say-its-a-scam-and-prefer-these-new-coins-instead\/"},"modified":"2023-07-01T08:44:30","modified_gmt":"2023-07-01T12:44:30","slug":"meme-token-pumps-up-20000-on-dextools-but-experts-say-its-a-scam-and-prefer-these-new-coins-instead","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=30089","title":{"rendered":"MEME Token Pumps Up 20,000% on DEXTools But Experts Say It\u2019s a Scam and Prefer These New Coins Instead"},"content":{"rendered":"
\n

A newly-listed crypto project, MEME token, took the crypto space by storm after it clocked over 20,000% in 24 hours.\u00a0<\/p>\n

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.\u00a0<\/p>\n

The project also scored poorly in the community votes on DEXTools, which raises doubts about its authenticity.<\/p>\n

Nonetheless, not all nascent crypto projects fall under this ignominious light.<\/p>\n

Crypto investors are paying close attention to more genuine meme projects, including Wall Street Memes, Thug Life, and Safemoon 3.0.\u00a0<\/p>\n

20,000% Plus Percentage and Yet Low Community Score? Something Is Fishy<\/h2>\n

The crypto market is back on the bullish track as it eyes a $1.2 trillion market valuation.\u00a0<\/p>\n

Several altcoins are posting significantly as buying pressure increases. Meanwhile, a new meme crypto token, MEME, is stealing all the spotlight.<\/p>\n

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.\u00a0<\/p>\n

The meme crypto project has a trading volume of over $71,500, with 152 transactions so far.<\/p>\n

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.<\/p>\n

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.<\/p>\n

Another concerning metric is its blacklisting by several crypto aggregator websites like DEXTools, which raises suspicions of it being a potential honeypot scam project.<\/p>\n

Adding to the project’s rocky start, the MEME token’s trading chart is also quite queer, as it only trends upwards.\u00a0<\/p>\n

This could easily be the work of a few traders trying to whitewash and prop up the token to draw in other investors.<\/p>\n

If these tactics succeed, they may sell off their assets later, leaving other investors with worthless coins and significant losses.<\/p>\n

These tell-tale signs have prompted many crypto experts to express concerns that it could be a honeypot scam project looking to collect funds from unsuspecting investors.<\/p>\n

With the numerous fraudulent projects in the crypto space, investors should be cautious about this project, especially considering the lack of information available about it and its developers.<\/p>\n

Meanwhile, crypto investors are turning their attention towards more promising coins as the meme coin frenzy intensifies.<\/p>\n

Wall Street Memes ($WSM): Creating a Meme Project for the Retail Investor<\/h2>\n

Launched only a month ago, Wall Street Memes is a meme project with a rich history.\u00a0<\/p>\n

The project is based on the GameStop events of 2021, which saw a paradigm shift in investor power.<\/p>\n

In the following events, retail investors banded together to buy up shares of struggling companies.\u00a0<\/p>\n

Led by the WallStreetBets subreddit, retail investors were able to shore up the prices of these companies while directly impacting the profitability of hedge funds that short-sell their stocks.<\/p>\n

This event has spilled into a movement, and the development team believes it is apt for the crypto space.\u00a0<\/p>\n

The Wall Street Memes project is a tokenization of this movement, and the team sees it as the ultimate triumph of the internet over rampant capitalism.\u00a0<\/p>\n

<\/oembed><\/figure>\n

The project aims to provide an avenue for retail investors to profit off seemingly worthless coins with little upfront investment.\u00a0<\/p>\n

It is a compilation of all the internet’s financial memes, including memes like Wojak and Pepe-the-frog.<\/p>\n

Wall Street Memes has achieved remarkable success, amassing over 1 million community members who are buying into the project.\u00a0<\/p>\n

Elon Musk has also repeatedly interacted with the meme concept.<\/p>\n

Furthermore, the project gained recognition for its 2021 Wall Street Bulls NFT collection, launched on the Ethereum network, and quickly sold out in 32 minutes.<\/p>\n

<\/oembed><\/figure>\n

Now, it has also launched another Bitcoin-focused NFT collectible called Wall Street Ordinals.<\/p>\n

With these strong fundamentals, many crypto experts believe that Wall Street Memes will soon secure a tier-1 exchange listing following its full launch.<\/p>\n

At press time, the Wall Street Memes project is still in its presale stage. It is powered by the $WSM token, which has so far generated over $11.7 million in presale investment.\u00a0<\/p>\n

Early-bird investors can buy the $WSM token at its current presale value of $0.0307.<\/p>\n

Buy $WSM Now<\/strong><\/p>\n

Thug Life ($THUG): Baller’s Meme Coin for the Web3 Space<\/h2>\n

Another exceptional meme coin project bringing a fresh take into the nascent ecosystem is the Thug Life coin, $THUG.\u00a0<\/p>\n

Instead of running on the familiar territory of dog and cat-themed meme coins, it portrays a lifestyle reminiscent of the 80s, popularized by hip-hop stars like Snoop Dogg.<\/p>\n

The project is powered by the $THUG token, which the development team views as a movement fueled by humor, brotherhood and the shared struggle of hustling in the Web3 space.\u00a0<\/p>\n

This depiction is apt given the struggles impoverished minority groups faced before the 21st century. Many resorted to a life of crime and became gangsters to stay relevant.\u00a0<\/p>\n

Thug Life tokenizes this entire history and allows anyone to tap into the baller’s meme coin.<\/p>\n

<\/oembed><\/figure>\n

Given that the Web3 space is still in its development stage, many people are still groping in the dark.\u00a0<\/p>\n

Thug Life provides a second chance for those who have been played, influenced, and used as a cashout.\u00a0<\/p>\n

It provides an earning opportunity for any investor who has been the victim of a scam project while giving them the sway for holding the digital asset.<\/p>\n

Launched only recently on June 28, 2023, the $THUG token recorded over $45,000 in its first few hours.\u00a0<\/p>\n

<\/oembed><\/figure>\n

At press time, the digital asset has already raised over $1.86 million from eager investors.<\/p>\n

What sets it apart even further is its unique presale event.<\/p>\n

Meme coin enthusiasts have a limited time to acquire $THUG, as the token’s discounted value of $0.0007 will significantly surge once the presale raise reaches $2.058 million.<\/p>\n

Buy $THUG Now<\/strong><\/p>\n

SafeMoon 3.0: Copycat of SafeMoon<\/h2>\n

SafeMoon 3.0, a recently launched meme coin, has emerged as a replica of the popular decentralized finance (DeFi) project.<\/p>\n

Within a short period, the project has witnessed remarkable growth, with a staggering 189% increase in just 24 hours.<\/p>\n

Powered by the SFM3.0 token, SafeMoon 3.0 currently holds a market price of $0.00000001657.\u00a0<\/p>\n

Despite having a market cap below $1 million, the project has already achieved a daily trading volume exceeding $1.84 million.<\/p>\n

The project has clocked over 1,200 transactions, with many trades being buy orders.<\/p>\n

<\/oembed><\/figure>\n

Even though it is still quite novel, the copycat meme project has a community trust score of 66.7%, which points to its strong fundamentals.\u00a0<\/p>\n

Early-bird investors can easily tap into the project’s profit trajectory as the crypto market enjoys a much-needed renaissance.\u00a0<\/p>\n

Buy SFM.30 on DEXTools<\/strong><\/p>\n

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.<\/i><\/p>\n<\/p><\/div>\n