The latest entrant creating ripples in the crypto market is the Jinbe Knight of the Sea (JINBE) token, with a sensational +2,000% pump, pushing it to the top of DEXtools. This One Piece-themed meme coin got its name from the whale shark fish-man character, Jinbe, of the intensely followed Japanese Anime series, One Piece.
Interestingly, JINBE experienced this dramatic rise only a day after its launch on September 14, as speculators latched onto it. Initially, during the first six hours post-launch, it saw a modest +58% move. However, then, at 16:00 exactly, on-chain market interest erupted, escalating the price with an abrupt +85% candle. Following this, a massive rally swept through the market, causing JINBE’s DEX market cap to leap to $828k and bringing the price to an all-time high of $0.0002465.
However, this exuberance brings with it a caveat. Is this surging meme token too good to be true? Allegations of scam surround Jinbe Knight of the Sea, highlighting issues with the absence of honeypot checkers on V3. Despite these worrisome allegations, current evaluations indicate that the token clears initial honeypot detectors. With the predominance of buy pressure, there is a chance for JINBE to continue its ride upward.
Crypto traders, juggling this viable risk, appear to be diverting their investments into Wall Street Memes, a more robust play. Backed by a massive community of over a million, the project successfully amassed a staggering $25m from its early backers in the presale rounds. This massive feat for a meme coin just emerging into the market publicizes the coin as a top contender for the major coin CEX launch of Q3 2023.
The $WSM token pays tribute to the anti-bank investors that challenged Wall Street, intending to not only tokenize this anti-bank movement but also to redefine our understanding of digital value. The backbone of this popularity is its tempting democratic price point of just $0.0337 and the commitment to provide a +30% for presale investors in the initial listing.
Adding to the excitement, a crypto whale initiated $1 million in the Wall Street Memes $WSM presale via five transactions of 460 ETH in the period of six minutes. This mystery whale address, signifying a substantial vote of confidence in the potential of Wall Street Memes, plus a subsequent 93 ETH purchase, signals high investment potential to the crypto market.
The $WSM coin’s mission to democratize assets has resulted in a significant community growth, forecasting substantial growth at the upcoming CEX launch. Given the stance of promoting long-term holding through an exciting 282% APY staking mechanism and immense support from the community, this token appears destined to skyrocket. However, as it often happens in the crypto world, one must tread cautiously. Be it JINBE or $WSM, the potential for substantial gains walks hand in hand with the potential for total wipeout.
Source: Cryptonews
