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New Viral Coin ATM Pumps Up 2,500% But Blockchain Analysts Say Its a Scam – Here’s the Next Crypto to Explode

Sam Cooling
Last updated: | 4 min read
Pixabay / Xresch

As On-Chain Summer continues to grip DEX markets, new viral meme coin ATM Bank (ATM) has exploded +2,500% but with concern growing over a potential pump-and-dump – smart money are rotating profits ahead of the biggest CEX listing of H2 2023.

The stunning ATM pump comes amid a period of high volatility for often newly launched meme tokens, which in recent weeks has seen major narratives such as Telegram trading bots and Twitter X-themed post dramatic moon-shots as trading volume on DEX explodes.

ATM appears to be a spin-off of an emerging ICO for ATM Bank token, which is currently in presale offering a promise of an AI-powered cashgram ecosystem.

<oembed url="https://twitter.com/ATMBankde/status/1698554048557756467[/embed]

The spin-off token has successfully parroted off the original ATM’s marketing efforts in a cunning move by the On-Chain team.

ATM Price Analysis: Is ATM Bank a Scam?

Amid the huge upside move, ATM is currently trading at a market price of $0.000143 (representing a 24-hour change of +3,610%).

This comes only 25-hours after the ATM Bank spin-off token launched, at 9:00AM on September 5.

Traction was initially slow for ATM as it climbed from $0.0000005 to $0.00001412 across the first 18-hours trading, with slow volume delivering modest gains of only +132%.

DEXtools / ATM USDT

However, at 3AM this morning (September 6), ATM price exploded almost +1,000%.

The dramatic move captured the attention of eagle-eyed DEX traders, and a flood of more than $450k in trading volume swept into the project triggering a major rally up to an all-time high at $0.00033.

With early-backers sat on-top of jaw-dropping +4,500% gains at 10AM, ATM entered into retracement, with price suddenly giving way, tumbling down -57% to local support above $0.00015.

Yet, despite the retracement move – buy pressure remains strong – representing 71% of transactions over the past hour – suggesting there is still an appetite for ATM at these prices.

But as technical structure gives way, and with fears growing around the longevity of this spin-off token, many are left wondering whether they’re in the midst of a rug-pull scam or simply the next leg of a skyrocketing rally.

Don’t Miss: Wall Street Memes $25m Presale Heads for Major Tier-1 CEX Listing 

Source / Wall Street Memes

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 an upcoming CEX launch in just 21 days – lets deep dive 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.

<oembed url="https://twitter.com/wallstmemes/status/1699076503479394427[/embed]

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.

Whale Wallet Sweeps Wall Street Memes Presale With $840k Purchase

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

Etherscan / WSM

The same whale address also bought 93 ETH worth of $WSM in a prior transaction. 

Etherscan / WSM

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.

Source / Wall Street Memes

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 significant growth at the upcoming CEX launch in 23 days, 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.

Source / Wall Street Memes

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.

Don’t miss your chance to secure a slice of the next skyrocketing meme token – connect with Wall Street Memes on Twitter and Telegram.

Buy $WSM Here

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.