As copycat tokens rise on DEX markets, the latest spin-off PEPE2 token has undertaken a +1,000% move, yet, amid the surge a breakout, warning signs reveal a potential scam, while safer Bitcoin project is capturing the attention of traders.
Recent months have seen a huge trend in explosive DEX-launched tokens, with countless moon-shots garnering significant attention, including the ever-popular APX, SAMBO Bot, Baby Meme, MILK, XDOGE and IO.
The new project has seen more than 548 holders flock to take position in the emerging moon-shot, although Bubble maps highlights that there is a major cluster of wallet addresses, connected by PEPE2 transfers that accounts for over 37% of token supply – heightening the risk of a dump – in a major warning sign.
PEPE2 Price Analysis: As PEPE2 Spikes Up +1,000%, Was a Dump Inevitable?
As PEPE2 price capitulates in a seismic dump, this PEPE2 spin-off is currently trading at a market price of $0.002144 (representing a 24-hour change of -56%).
The dramatic downside move came following a breakout +1,000% really, which saw price leap up +615% in the first three hours of trading, following a stealth launch at midnight on November 10.
A brief support level was established at $0.003596 across the early hours, setting the stage for an explosion in price action this morning.
Across three hours, price hammered up +202% out of consolidation, hitting an all-time high at $0.01085 around 8AM this morning (November 10).
Price struggled to establish support at these levels, amid declining buy pressure, and this set the stage for the tremendous dump, with price tumbling 97.56% in just one hour.
The dump appears to have been triggered by the highlighted cluster above, with the second-biggest address 0x75135b5484246d32a7f721aecbd71c4dfd39f6b7 initiating proceedings as it dumped 4.2% of total supply.
This was quickly followed with subsequent sells by connected 8th biggest addresses 0xb66F98Da7B41E5BcE8A45B18a79C5A5FccAD3325 (dumping 2.65% of supply), and 3rd biggest address 0xc9d2113E70f121e50FF8CcA24C3ac0A3Eab254Fb (dumping 3% of supply), and a 4th address 0x017F4BB2a60C26CFADf9D52827729626B7cb791E.
With all of these addresses connected in the same localised cluster, this appears to be a coordinated move, perhaps by just one major whale – initiating a devastating rug pull on fellow holders, with around 10% of supply sold in the space of 4 minutes (netting the dumper around $83,750 in ETH).
The dump move, was signalled by the emergence of the substantial supply cluster, a classic warning sign for rug pull activity – with further warning signs emerging across 3 audits, which confirmed this PEPE2 spin-off as a honeypot.
But while PEPE2 holders are reeling from the stolen gains, a fully audited and security vetted Bitcoin ETF presale is emerging as a traders favourite heading into the weekend.
This Bitcoin Alternative Token Could Skyrocket Amid Bitcoin ETF Bullrun – Don’t Miss Out
A new Bitcoin alternative presale launched this week, offering eagle-eyed traders the opportunity to make it big on unfolding Bitcoin ETF rumors, without having to eat the $36,000 cost of becoming a wholecoiner.
Bitcoin ETF Token ($BTCETF) is currently trading at a market price of $0.005 in funding round stage 1 with an alluring $237,045 raised in the opening day of the presale.
Designed and built with skyrocket potential in mind, this promising token aims to bank big on market excitement surrounding the ongoing applications for Bitcoin spot ETFs.
Aiming for a hard-cap of $5m in presale funding, the early-stage of this emerging project’s presale offers investors a unique opportunity to get in during this early entry point, which could set the stage for life-changing gains.
Ride the ETF Rally with Ease: Bitcoin ETF Token is a Critical Component in Every BTC Trader’s Toolbox
Indeed, Bitcoin ETF isn’t simply a useless meme coin, beyond taking aim at the biggest narrative in crypto – BTCETF has a major utility: Bitcoin ETF news alerts.
The token’s dApp offers traders a live-feed of the latest Bitcoin spot ETF information and news, with sophisticated technology tracking applications real-time at the SEC, and high-speed bots monitoring social media for the latest breaking ETF news.
But a simple feed of Bitcoin spot ETF news only highlights a fraction of Bitcoin ETF token’s potential, with easy-access to real-time update alerts offering sharp traders the opportunity to make market-beating returns stress-free; being amongst the first to hear about privileged Bitcoin Spot ETF news.
This could enable traders to position themselves appropriately in seismic Bitcoin market movements, making Bitcoin ETF token a critical component in every BTC trader’s tool-box this Winter.
Surging Interest in Bitcoin Alternatives Leaves $BTCETF Poised to Outperform PEPE2 Token
Project tokenomics are bolstered by ambitious plans for the incorporation of staking rewards that incentivise long-term holding, alongside a burn mechanism, which will enhance $BTCETF as a ‘digital gold’ alternative, by creating a deflationary mechanism in price.
Set for stage 3 of the Bitcoin ETF project roadmap, an initial burn mechanism will be introduced amid a well-marketed DEX launch, imposing an initial 5% burn tax on transactions – this will be reduced by -1% each time a Bitcoin ETF news milestone is reached.
However, plans are afoot for a larger burn mechanism in stage 4, in a move that will see 25% of token supply burned overtime, this will be conducted in 5% burn intervals – with each supply-side reduction taking place as a Bitcoin ETF news milestone is met.
The milestones for the burn mechanism are as follows:
Milestone 1 – $BTCETF Trading Volume hits $100m – burn tax on transactions reduced from 5% to 4%, and 5% of total supply is burned.
Milestone 2 – First Bitcoin ETF is approved by SEC – burn tax on transactions is reduced from 4% to 3%, and a further 5% of total supply is burned.
Milestone 3- First Bitcoin ETF launch date – burn tax on transactions is reduced from 3% to 2%, and a further 5% of total supply is burned.
Milestone 4 – Bitcoin ETF assets under management (AUM) hits $1bn – burn tax on transactions is reduced from 2% to 1%, and a further 5% of total supply is burned.
Milestone 5 – Bitcoin price hits $100k – burn tax on transactions is reduced from 1% to 0%, and a further 5% of total supply is burned.
This will create a gradual decrease in total supply, eventually leaving around 70% of BTCETF in circulation, with the supply side reduction inducing upside price growth.
And that is without considering the potential for token value accrual driven by demand from traders for access to the ETF news dApp and the ever-present demand for Bitcoin alternatives.
Indeed, 2023 has seen explosive growth in Bitcoin related tokens – with markets showing a real appetite for BRC-20 ordinal tokens, Bitcoin Cloud Mining, and Bitcoin derivatives.
So don’t miss your chance to get in early ahead of the next major Bitcoin rally leg.
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.
The post As PEPE2 Dumps After 1,000% Move, But This Audited Bitcoin Project Has Secured $200,000 in Funding – 100x Potential? appeared first on Cryptonews.
