Fueled by intriguing launches, meme coin activity has been heating up on notable DEX (decentralized exchanges) yet again. Striking the limelight are novel tokens like $HOPPY, $WOLF, and $POP, each contributing to today’s thriving marketplace.
Most notably, $HOPPY, the frog-themed coin, saw its values leap by 250% on the day of its launch, witnessing a tsunami-like volume of $5m being whisked in from around 3.2k holders. However, this grand entrance was followed by an alarming 80% decline, rendering its technical structure in shambles. This landslide has reminded investors of the underlying risks in DEX pump trading.
$a href=/?s=$WOLF>$WOLF token too gives us a glimpse into the turbulent highs and lows of the DEX trading world. While the token experienced an extraordinary 27,600% run right after its launch, a converse collapsing price action on July 16 led to a subsequent 86% bleed-out. More than one thousand holders have been left marooned, raising questions about $WOLF’s future.
Yet, not all have the same story. $POP (Proof of Pepe), a token directly launched to DEX, seems to trek an entirely different story. Enjoying a surprise $PEPE recovery rally, 24-hour volumes have risen towards $500k. Despite having two drastic falls, the price action of $POP seems to be recovering significantly, making investors hopeful.
Moving beyond imitation to innovations, Meme coin $EVILPEPE is yet another entrant that looks promising. The coin is leveraging on the success wave of its better-performing cousin, the Pepe Coin, and planning to stand on its own feet. Backed by influential teams and an ambitious plan, $EVILPEPE aims for a $100 million market cap, a significant leap from its initial valuation of $2 million.
The strategic marketing efforts, paired with the potential of a token offering that reassures investors of stability, $EVILPEPE manages to sidestep the pitfalls of pump-and-dump schemes that its counterparts have fallen victim to in the past. With an attractive tokenomics set-up and a serious commitment to value generation in the long run, $EVILPEPE positions itself with tremendous growth potential in the meme coin space.
In conclusion, the volatility surrounding these tokens exemplifies the high-risk aspect of the crypto market. Despite the promising outlook these tokens hold, the fluctuating trends are a reminder for participants to tread with caution. With so many facets at play in the blockchain space, it becomes crucial for individuals to equip themselves with all necessary information.
Source: Cryptonews
