The newly minted cryptocurrency WALTER2.0 has exploded onto the scene, boasting an astonishing 30,000% gain in just 24 hours. Early investors are reveling in significant boom, however, caution is strongly advised. DEXTools, a cryptocurrency launchpad, has flagged WALTER2.0 as potentially dangerous for investors, describing it as a potential honeypot scam. The digital token has also fared poorly in community voting, making it less than appealing to many investors. With little reliable information available, cryptocurrency experts recommend steering clear of WALTER2.0 and considering other, community-driven tokens instead.
With exponential growth rates, tokens like WALTER2.0 may seem appealing. However, hefty gains often hide the risks beneath. A honeypot scam, for instance, attempts to lure in investors with potentially significant returns, only to leave them empty-handed once the actor drains the funds held in the smart contract.
The narrative surrounding WALTER2.0 has raised red flags for many in the crypto industry. For example, DEXTools suggests potential honeypot scam, and community votes results reflect low trust with 95.7% of investors voting down the project. This is a harsh reminder for all cryptocurrency enthusiasts to thoroughly research before investing.
On the other side of the spectrum, tokens like $WSM, $THUG, and $HANKEY have been identified as more reliable alternatives. Wall Street Memes ($WSM), for example, was created a month ago in response to the GameStop frenzy of 2021. Its mission is to manifest the triumph of the internet over unchecked capitalism. The token has raised over $14.82 million in presale and has a strong online presence. Elon Musk himself has engaged with the project, bolstering its visibility even further.
Thug Life ($THUG) is another interesting project that embodies the legendary 90s hip-hop lifestyle. Styled as a baller’s meme coin, it provides a platform for humor, brotherhood, but also potential significant profits.
Then there’s Mr Hankey Coin ($HANKEY), another promising meme coin project launched just a week ago. Based on the beloved character Mr. Hankey from South Park, its founders do not aspire for it to become the next Bitcoin, instead embracing its identity with humor and whimsy.
In the world of cryptocurrencies, there are countless projects to sift through and consider for investment. But when the wave of excitement subsides, it becomes critical to discern between potential scams and reliable opportunities. The recent ascend of WALTER2.0 reminds us of the need for caution and due diligence.
Source: Cryptonews
