HarryPotterObamaSonic10Inu2 (BITCOIN2) Pumps 25,000% But Will It Rugpull? Best Meme Coin Alternative Whales Are Buying
As DEX tokens continue to explode, HarryPotterObamaSonic10Inu2 (BITCOIN2) has undertaken a sensational +25,000% pump, but with pundits now alleging it could be a scam - will BITCOIN2 rug-pull?
On-Chain Summer has so far seen DEX markets become a hive of activity, as intrepid traders chase almost daily dramatic moon-shots, and leading the pack has been a succession of big-coin spin-offs such as HarryPotterObamaSonic10Inu (BITCOIN), XRP20, and GUISE.
Now, HarryPotterObamaSonic10Inu2 (BITCOIN2) has emerged as the second incarnation of the original skyrocket - and price action has become super-charged.
But meme coin pundits are already alleging that the fresh-faced token could be a scam, with influencers on crypto Twitter highlighting suspicious wallet activity.
BITCOIN2 Price Analysis: Will HarryPotterObamaSonic10Inu2 Be a Rug Pull?
Amid the sensational price action, HarryPotterObamaSonic10Inu2 is currently trading high at a market price of $0.01738 (a 24-hour change of +25,329%).
This comes following seismic upside moves, which were triggered on launch, sending BITCOIN2 from $0.00005 to $0.015 (+9,975%) in its opening hour.
As market attention gravitated towards the sensational price move, a staggering $276k in trading volume began to flood into the project.
The surge of interest over the next 7 hours pushed BITCOIN2 up to a whopping $1.75m market cap - bringing the total gains for early backers to a jaw-dropping +25,329%.
But all might not be quite what it seems, as data from DEXtools suggests that in a suspicious move, supply has become concentrated into the hands of just one holder.
This is peculiar, given a rich order book showing more than 430 transactions from a plethora of wallets.
And while BITCOIN2 does pass basic litmus tests such as Honeypot.is, many have become concerned about the potential for this to be a scam token.
That's why smart money has already begun to rotate profits into a better play: the biggest meme coin CEX launch of Summer 2023.
Discover $WSM: The Biggest Meme Coin Launch of Summer 2023
Wall Street Memes emerged as one of the biggest meme coin presales of 2023 over the past few months, with the seed funding rounds amassing more than $25m from early backers.
Bolstered by the support of this over 1m+ strong community, this rockstar project is expected to make substantial gains upon CEX launch - lets deep-dive into exactly why.
Deep-Dive: Why is Wall Street Memes Expected to Explode?
In a testament to the skyrocketing growth, the $WSM token community now stands one million strong, with the presale exceeding all expectations to amass over $25 million in presale funding - now standing as the biggest meme coin presale of 2023.
The humungous feat is almost unprecedented for new meme coin projects that are yet to even hit the DEX markets, and investors are taking notice as the project emerges as a top choice for the biggest coin CEX launch of Q3 2023.
In a meme coin homage to the anti-bank investors that took on Wall Street, $WSM is aiming to transform powerful Wall Street Bets community sentiment into a tangible asset - seeking not only to tokenize the anti-bank movement but also to redefine our perception of digital value.
But what really has investors flocking in, is its democratic price point at just $0.0337, which has allured thousands of early backers given the WSM presale has surged with $25m raised.
Furthermore, there is a clear signal that investors could unlock lucrative gains with $WSM, not least because of the built-in +30% for presale investors in the initial listing.
Mysterious Crypto Whale Buys $1M Amid Wall Street Memes Presale Hype
In one instance that stands to show the excitement around this meme coin, a crypto whale invested $1 million in the Wall Street Memes $WSM presale in early August – maybe it was Elon Musk?
The mystery whale address purchased $WSM in five transactions amounting to 460 ETH valued at $840,000 executed over six minutes.
A further 93 ETH were made from the same wallet two weeks earlier. In total, $1 million has been invested in $WSM by the mystery crypto whale.
The crypto whale purchases are a significant vote of confidence in Wall Street Memes and its return on investment potential.
The $WSM crypto whale’s token purchases can be seen on Etherscan.
The same whale address also bought 93 ETH worth of $WSM in a prior transaction.
Wall Street Meme's Million Strong Community and Moon-Shot Tokenomics
In keeping with the original anti-bank philosophy, $WSM will be allocating 30% of the token supply to community rewards, with an additional 20% going towards liquidity, and 50% up for grabs in the presale - this is a democratic project for the masses.
And this no-team split has fuelled the project's explosive growth on social media, with the Wall Street Memes community now amassing an impressive +1m followers in the community.
This explosive community growth is likely to incentive major CEX listings such as Gate.Io, which could propel the $WSM token on an incredible moon-shot.
And with long-term holding incentivized by Wall Street Meme's novel staking mechanism - which boasts an eye-watering 282% APY - this token seems destined to explode.
With a proven track record stemming from the success of the Wall Street Bets NFT collection, this project continues to thrive off the original moment in history when $WSM exploded onto the scene.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.