In a captivating summer for DeFi investors, DEX tokens have been stealing the spotlight with rocketing performances. Among these tokens, the newcomer Base Bot (BOT) has made waves with a soaring 1,000% gain. This ties into a growing enthusiasm around telegram trading bots, with projects like Unibot showcasing a stunning $100m+ market cap.
While explosive performances are exciting, the path to crypto-riches is fraught with risk. After an impressive pump of over 1,190%, BOT’s price is now navigating unsteady waters. Following a daily high of $0.575, the token has suffered a 60% plunge in price, now hovering around $0.2352.
Exciting for investors though this immediate upward trajectory may have been, the rapid retraction of price elevates concerns. With the current liquidity of the token standing at a slim $41.5k, this shows less than a quarter of the token’s $234k market cap. The legitimacy of this project stands in shaky ground for some. Analysts argue that the small liquidity pool may evaporate leaving holders in the lurch, unable to sell their trapped tokens.
While the market grapples with BOT’s fluctuating performance, attention turns to the upcoming Meme coin that’s riding the wave of NFT success. Born from the Occupy Wall Street movement, the Wall Street Memes token ($WSM) has been rapidly gaining momentum. Supported by a robust community of more than a million followers, the buzzword is that $WSM could be the most successful Meme coin launch since Pepecoin ($PEPE).
Striving to encapsulate the spirit of Wall Street’s rebels into a tangible asset, $WSM has managed to draw a flock of investors. The democratic price point of just $0.0328, coupled with a potential growth of 30% for presale investors, makes this token particularly attractive.
Coinciding with the original anti-bank ethos, 30% of the token supply is earmarked for community rewards. An additional 20% is set aside for liquidity, with the remaining half up for bid in the presale. Underpinning this explosive growth is a strong social media presence, and a community now numbering over a million strong, propelled partly by interactions with personalities such as Elon Musk.
As the token gains traction, it is projected that $WSM could be listed on high-profile CEX’s like Gate.Io, potentially driving the token’s growth to new heights. With the success of the Wall Street Bets NFT collection under its belt, $WSM is making waves.
Disclaimer: Crypto investing is high-risk. This article encapsulates market trends and does not constitute investment advice. Investors could risk losing all their capital.
Source: Cryptonews
