In recent developments, there’s been a massive priority rush among token creators to capitalize on the ‘X’ themed tokens trend, catalyzed predominantly by Elon Musk‘s notable twitter rebrand to X.com. The most recent benefactor of this shift is none other than the XXX token which skyrocketed in its opening hours amassing an unbelievable +2665% gain and currently bulwarks a $1.7m market cap with a steadfast trade value of $0.051678.
Gaining impressive 24-hour volumes escalating from $6.87m to $7m, and a whopping +9,000% in profits for the early investors, the XXX token is turning heads in the DEX trader community. The tokens’ frenzied rise in value is propelled by its 2.5k holders and a remarkable 14.9k transactions since its launch.
Intriguingly, the waves made by XXX token seem to be attracting more investors towards participating in meme coin presales. Wall Street Memes token, abbreviated as $WSM, borrows influence from the popular anti-establishment ethos of Occupy Wall Street. The Meme coin differentiates itself by attempting to turn palpable community sentiment into a tangible asset, thereby aiming to not just tokenize the anti-bank movement, but also challenging our accepted notions of digital value.
The $WSM token, with price at a democratic $0.0328, has witnessed its presale snowballing at breakneck speed, with nearly $20m raised so far. The $WSM community, staying faithful to its anti-bank roots, will distribute 30% of the token supply as community rewards and promises more in return with a +30% for presale investors in the initial listing.
This novel approach seems to be appealing to a vast online crowd, with the Wall Street Memes community now boasting more than +1m followers. However, one can’t dismiss that while the successes of the $WSM and XXX token paint a rosy picture for meme coins, naysayers tend to worry about its safety due to the minimal buy/sell tax, and the decentralized nature, drawing attention to the absence of centralized control and potential exploitation by bad actors.
Therefore, while investors might be lured by the tantalizing prospects of a moon-shot, one must tread cautiously and equip oneself with thorough market research before jumping on the meme coin bandwagon.
Disclaimer: Crypto is a high-risk asset class. This information does not constitute investment advice. The potential to lose your capital is considerable.
Source: Cryptonews
