As the world of cryptocurrency continues to expand with countless new tokens appearing on the market, the interest around tokens with political themes is on the rise. Recently, some US election-themed crypto coins have gained significant attention on DEXTools, despite exhibiting low DEXTscores and smart contract warnings. Such tokens can pump by thousands of percent on decentralized exchanges (DEX) like Uniswap or PancakeSwap, but are often associated with crypto scams.
These new tokens seem to have been sparked by a parody of Elon Musk’s Twitter Space, featuring notable figures from various domains and backgrounds. One such token, the President Ron DeSantis (RON), has a relatively low rating of 53/99 and a few worrisome attributes such as a blacklist function and modifiable tax, as noted by an automatic audit result on its DEXTools page. It currently has only 69 holders.
Another trending token is Trust the Ponzi (TRUST), which encapsulates a reference to ‘trust the plan.’ The Donald (TRUMP) token, however, imposes a staggering 98% transaction tax on sellers—a potential trap for unsuspecting beginners in the crypto space. Furthermore, it has a low project reliability score, with a 19/99 rating and 77 holders. The token’s low liquidity means that very little real buying volume is required to propel it to monumental percentage boosts. Despite this, prospective buyers compelled by the appealing 10,000% growth may not be able to profit or realize any gains.
Despite the risks involved with these tokens and others like them, there are numerous emerging cryptocurrency projects that offer growth potential and security. At CryptoNews, we have reviewed numerous new tokens on both DEX platforms and centralized exchange (CEX) platforms. From the analysis, we have identified 19 new crypto coins with high growth potential for 2023 and into 2024.
The rise in popularity of political-themed tokens is indicative of the public’s fascination with the intersection of politics and finance. However, the potential risks involved with such tokens should not be ignored. Crypto enthusiasts must diligently examine the reliability, liquidity, and other technical aspects of these tokens to ensure maximum safety and profitability in their investments. The world of cryptocurrency is a fascinating blend of technology, economics, and social issues, and staying informed is critical for successful navigation and growth in this dynamic landscape.
Source: Cryptonews
