As the Decentralized Exchange tokens (DEX) take the limelight in major market shifts, a new face called ClownCoin (CLOWN) enters the field with a staggering +25,750% rise during its debut. This phenomenal increase occurred due to a sudden surge of roughly $800k in market volume, proving once again that DEX traders’ appetites for the next mega rally remain unsatiated.
The early phases of ClownCoin’s awe-inspiring ascent started at 2 am on August 10 when an initial +1,000% surge sparked investors’ interest. More traders scrambled to take up positions before the skyrocketing rally, causing an influx of volume up to $794k within 10 hours.
With approximately 350 holders and 2.44k transactions, the price exploded from a launch price of $0.0191 to a present trading value of $0.0001916. Subsequently, ClownCoin’s market cap stands at a remarkable $1.84m, giving early investors paper gains of an unbelievable +25,750%.
However, eyebrows raise as experts stretch their warning flags, hinting at the possibility of ClownCoin being a poorly clothed scam coin. When looking into ClownCoin’s token address through Honeypot.is, an Ethereum honeypot detector, it revealed several bag holder’s wallets being thinly drained after partaking in ClownCoin. Thus, putting the seemingly attractive gains of 356 bag holders at risk.
On a contrasting note, the smart players in the market are already devoting their attentions towards a meme coin presale anticipated to be the greatest in 2023. A project which is enticing investors is Wall Street Memes. This project puts Wall Street Bets community sentiment into tangible, tokenized form, aiming to revolutionize the way we perceive digital value.
Alluring investors with a democratic price point of $0.0328, WSM’s presale has skyrocketed, raking up to $22.8m in funding. Furthermore, the swift pace of the presale and the initial +30% listing for presale investors gives early WSM investors opportunities for massive gains.
The Gate.Io listing expectation, along with the active community of one million followers, fuels expectations for exponential growth. Rooting back to the success story of the Wall Street Bets NFT collection, this project carries the momentum of when $WSM burst onto the scene.
However, keep in mind; this landmark of a new token is a high-risk asset class. Always conduct thorough research before investing. What seems like a joke coin could leave its holders as the punchline, whereas proper presales of community-centric tokens might provide unexpected returns.
Source: Cryptonews
