In a swirl of market activity, two meme coins, Shibarium Token (SHIBARIUM) and a BNB blockchain-based coin dubbed Cat (CAT), have seen dramatic surges. CAT experienced a 100% upswing, restoring its market cap to over $1 million and reporting an impressive 24-hour trading volume of $2.5 million. Despite passing a security audit by DEXTools’ GoPlus with no identified issues, the coin’s DEX liquidity remains unlocked, rendering it prone to a possible rug pull scenario.
In the wake of this surge, SHIBARIUM is also observing a substantial market movement of over 130%. However, a closer look indicates potential red flags. The token’s website’s veiled attempt to associate itself with the Shiba Inu ecosystem raises eyebrows, particularly as this ecosystem is on the verge of launching its public version of the Shibarium Ethereum layer-2 scaling protocol. Shiba Inu has not launched a SHIBARIUM token, calling into question the authenticity of the SHIBARIUM token. The token’s unlocked DEX liquidity and seemingly arbitrary transfer pauses only add to the skepticism.
Emerging from this hectic market clamor are two new tokens, BTC20 and Shibie, that come with compelling value propositions and seem less likely to be scams. BTC20 is Bitcoin rebirthed on the Ethereum blockchain, echoing its tokenomics but rewinding to when Bitcoin was valued at only $1. Compared to its presale price, the token has seen a sizable return, thus positioning BTC20 as a promising passive income opportunity for 2023. The token can be staked, allowing investors to benefit from the issuance of new BTC20 tokens.
While BTC20 offers security with 88% of its liquidity locked for 12 months and no concerning aspects as per the DEXTools’ GoPlus security audit, a new variant on the scene, Shibie, offers its own brand of promise. Combining the popular Shiba Inu dog meme and Barbie, Shibie has seen a generous pump since its DEX launch, its liquidity fully locked for the next three months. With the Shibarium launch expected to provide a boost to the Shiba Inu ecosystem, Shibie’s potential for significant market gains is promising. As always, the high-speed, high-risk crypto market is not to be entered lightly and this information serves to inform rather than instruct. Your capital is at risk.
Source: Cryptonews
