New Religious Cryptos Pump - Are They Scams? God, Mary, Baby Jesus Coins Top Crypto Gainers Today
Three new meme coins with a religious theme were listed on Uniswap today, May 22nd - $GOD, $MARY and $BABYJESUS - making the top crypto gainers list on DEXTools.
Each has a low DEXTscore and some warnings under the contract details section of their DEXTools links - exercise caution when buying new DEX coins.
Jesus Coin (JESUS), launched last month, is also among the top trending cryptocurrency assets today on CoinMarketCap.
Biggest Crypto Gainers - Are They Safe?
Often a large percentage gain on a decentralized exchange is a sign of low liquidity, more so than real interest from buyers - meaning there aren't enough sell orders in the order books to stop the price from exploding, and a low buying volume can cause a pump in the thousands of percent.
At the time of writing all three new meme coins have a liquidity under $100,000, and a fully diluted market capitalization under $1 million:
- GOD coin - $99k liquidity, $950k market cap
- MARY coin - $65k liquidity, $400k market cap
- Baby Jesus coin - $45k liquidity, $300k market cap
Experienced traders can still profit from new tokens, but beginners often lose out - since as soon as a significant selling pressure comes in from early holders, the price can crash just as fast as it rose, the 'pump and dump' chart pattern.
Warnings on God, Mary, Baby Jesus Tokens
DEXTools provides an automatic audit of all tokens' smart contracts. It can be a useful resource when reviewing new Uniswap listings, which are attracting increasing numbers of investors - something analysts say could signal that Bitcoin has topped.
$GOD token has been flagged as having a blacklist function in its contracts, as has $BABYJESUS.
$MARY has been flagged as having the function to modify the maximum amount of transactions or the maximum token position.
These warnings - while not always 100% accurate - and low liquidity issues don't apply to other popular meme coins such as $PEPE, $COPIUM, $RFD, $SPONGE and others among the most trending cryptocurrency assets on DEXTools.
When those more established meme tokens make the top crypto gainers or 'hot pairs' list, the percentage gain tends to be in the two or three figures, with four or five figure gains being much rarer when measured over a 24 hour period.
To avoid crypto scams it's also worth checking to see if any major crypto influencers have mentioned a new coin listing.
Most of the cashtag mentions for $MARY and $BABYJESUS on Twitter appear to be smaller accounts that may have botted engagement.
We were only able to find a large well-known account mentioning $GOD token, Wizard of Soho in the tweet above who has 60k followers.
See our reviews of the best new cryptocurrency projects of 2023.
Top Crypto Gainers This Month
Yesterday RefundCoin (RFD) spiked over 1,000%. It has a liquidity of $14 million and no DEXTools warnings.
Jesus Coin (JESUS) is up approximately 25% today, 2,300% this week and 4,800% in the past month.
Also making the most trending cryptocurrencies on CoinMarketCap are Pepe, Wagmi Coin, and SAUDI PEPE - up 85% in the past day. Those meme coins dominate the top three spots.
Other meme coins in the top ten are Shiba Inu and Love Hate Inu - recently listed on OKX.
This week Copium token has also ranked among the top trending cryptos on DEXTools.