As blue-chip crypto markets remain stuck within familiar ranges, with bitcoin (BTC) in the low $29,000s and ether (ETH) in the mid-$1,800s ahead of a week lacked with key US economic data releases, things are heating up in the meme coin market.
A new meme coin called $BALD that was launched on Coinbase’s layer-2 Ethereum scaling blockchain Base got a lot of attention over the weekend, reaching a market cap of as much as $100 million earlier in the day, before losing most of its value after the token’s developer pulled liquidity.
With price action in blue chip crypto markets subdued, degens unsurprisingly continue to hunt for volatility and the prospect of short-term gains in the meme coin/shitcoin market.
Here are some of the top-gaining Ethereum-based coins of the day, as per DEXTools.
Majin Buu Token ($BUU)
A new meme token $BUU, which is based on the iconic character Majin Buu from the Dragon Ball Z anime series and aims to create a fun and engaging community for fans of Majin Buu and cryptocurrency, has been pumping since its decentralized exchange (DEX) launch a few hours ago.
At its last price of around $0.0000065, $BUU was last up over 200% or more than 3x versus its DEX launch price of under $0.000002, and the token seems to be gaining momentum, as per DEXTools.
It is approaching 100 holders and has already seen nearly half a million in trading volumes, with a market cap of already around $450,000.
The DEXTScore is high at 90/99, with DEXTools’ GoPlus Security check showing that the token’s contract has been renounced, it isn’t a honey pot, there is no buy or sell tax.
However, there does appear to be a blacklist function that means wallets might not be able to trade normally.
Moreover, liquidity hasn’t been locked yet, so there is still risk of a $BALD-like rug pull.
Pegasus SniperBot Token ($PEGASUS)
Amid the recent success of tokens relating to Telegram crypto bots, a newly launched token called Pegasus SniperBot (PEGASUS) has been performing well since its launch last Friday.
As per DEXTools, the token has gained over 130% on the day, and hit record highs earlier in the day above $0.80.
$PEGASUS was last trading at around $0.50 per token, giving it a market cap of around $500,000.
The token now has over 500 holders and has seen trading volumes of around $170,000 in the last 24 hours.
However, meme coin degens should know that the coin has a 5% buy and sell tax, and there are contract functions that allow the issuer to play around with trading conditions, such as via limiting transactions or implementing a trading cooldown.
Hamsters ($HAMS)
Hamsters ($HAMS), which claims to be a unique gaming platform that combines live-streamed, pre-recorded hamster races with a competitive PvP betting system, was last up around 100% in the last 24 hours, as per DEXTools.
At its current price just above $0.30, $HAMS is up 130% versus its weekend all-time lows around $0.13 and has a market cap of just above $3 million, with just over 4,000 holders.
Despite the rebound, $HAMS trading volume is subdued at just $22,700 in the past 24 hours.
Unfavorable token contract functions, such as a 5% buy tax and a 7.7% sell tax, as well as potential limits on the trade, could be deterring investors from getting involved.
Hamsters also has a bad community rating, with 77.5% of 102 votes a thumbs down on DEXTools.
Better Alternative to a Shitcoin
The volatility of the shitcoin market tends to suck in investors, but most of these coins have no underlying utility or project vision, meaning they almost all eventually end up as worthless coins.
Investors looking for a strong possibility of near-term gains should instead check out promising presale projects, such as some of those scrutinized by Cryptonews.com.
Here is one project that the team is a big fan of.
Wall Street Memes (WSM)
Wall Street Memes, one of the internet’s hottest retail investing communities, rose to prominence in the meme stock craze of 2021 and has recently been expanding its relevance in the cryptocurrency space with the presale of its new $WSM token.
The success of the $WSM presale, which has raised more than $18.8 million in just a few months, isn’t surprising given the size of Wall Street Memes’ community.
Not only are there 523k hyper-engaged community members on its wallstbets Instagram account, there are another 214k on Twitter and more than 100k across its two other Instagram channels, wallstgonewild and wallstbullsnft.
All told, Wall Street Memes has a 1 million-strong social community of degens, which analysts think all but guarantees that the $WSM token will be listed on tier 1 crypto exchanges like Binance.
With 30% of the token supply being held back for community rewards, it can reasonably be expected that airdrops to holders will be a big part of the ecosystem.
Indeed, the first $WSM airdrop is open now.
Analysts are already predicting big things for Wall Street Memes when it lists on exchanges and you can be a part of it.
Visit Wall Street Memes Here
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.
Credit: Source link
