TBOT Token is Up 10,000% in 24 Hours But Blockchain Experts Say It Has a Hidden 100% Tax Function – Here's What They're Stacking Instead
As the hype around Telegram trading bots such as Unibot continues to grow, Turbobot token (TBOT) has been the latest straight-to-DEX product launch to undertake a sensational skyrocket price move.
Launched on August 7, Turbobot token gained explosive growth after igniting a flood of volume which drove price up +34,200%.
However, red flags are now emerging with allegations of a hidden 100% tax function, which makes it impossible for intrepid DEX traders to realize their gains.
TurboBot Price Analysis: Is TBOT Doomed to Fail?
At 3am in the early hours of August 7, TurboBot token was launched on DEX markets, instantly garnering significant investor attention that ignited 4 consecutive hours of explosive upside price action.
Despite the initial 7,250% rally, there was a major retracement (-50%) as European DEX markets awoke to the sensational move.
However, a strong support zone established around $0.002650 quickly bought up the sell-pressure, and this strong footing unleashed a monumental +190% movement over the next 5 hours as more than $200k in volume flooded into the project.
With price topping out at an all-time high of $0.0075, on paper gains for early investors stood at a staggering +34,200%
Yet, as price action seemed to be posting an altcoin moon-shot, a crisis began materializing for bag holders - a hidden 100% transaction tax.
This prevented freshly-minted investors from realizing their astronomical gains as any attempt to sell would cause the loss of everything.
Panic around the 100% sales tax catalyzed the collapse of impressive technical structure - unhinging a seismic -80% dump.
Yet, despite more than 367 bag holders left with nothing, not all is lost - as eagle-eyed traders have already began to move on to the next project gaining explosive traction in the crypto community.
Wall Street Memes Goes Viral As One Million Strong Community Fuel +$22m Presale
As the meme coin vertical makes a resurgence, there is one project on everyone's watchlists and it's not Dogecoin or JIM, the latest market entrant making waves on Crypto Twitter is Wall Street Memes.
In a testament to the skyrocketing growth, the $WSM token community now stands one million strong, with the presale exceeding all expectations to amass +$22m in presale funding.
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 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 $0.0331, the WSM presale has surged with $22.2m raised. and with the speed of the presale growing faster by the day, 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.
Wall Street Meme's Favourable Tokenomics Will Lead to CEX Listing
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 moonshot.
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.
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.