VADER Meme Token: 25,000% Gain Raises Suspicion of Scam
VADER, a new meme token, has experienced a staggering 40% gain in the last 24 hours. Since its listing as a pair with Wrapped Ethereum (WETH) on Uniswap, the token has seen an astronomical 25,000% increase. However, caution is advised as VADER has already been marked as a scam on DEXTools.
According to analysis, the creators of VADER have established a multi-blacklist to prevent buyers from selling their holdings and avoiding a dump. This indicates that retail investors should steer clear of VADER, as the ability to make a profit off the token seems unlikely, except for its issuers.
While VADER is not a recommended investment, there are other meme tokens in the market that offer potential opportunities for gains. The Wall Street Memes (WSM) presale has already raised over $13.7 million, suggesting that its listing on exchanges will lead to further growth.
It is important to note that VADER’s misleading performance and potential scam label pose risks not only to investors but also to the reputation of new meme tokens and altcoins as a whole. However, not all meme tokens should be judged the same way. Some have legitimate online presences, communities, and digital trails that prove their authenticity.
Wall Street Memes (WSM) is an excellent example of such a token. An ERC-20 token that emerged from the meme stocks movement, WSM has gained considerable traction since its presale began last month. With a community of over 250,000 followers on Twitter, WSM has established strong roots within the meme stocks movement and is likely to experience significant growth upon listing.
WSM also differentiates itself from tokens like VADER by having a maximum total supply of two million. Half of this supply is allocated to the presale, while 30% is dedicated to community rewards. These features make WSM a highly decentralized token and protect against large dumps or market declines resulting from creators offloading their holdings.
Interested investors can participate in the WSM sale by visiting the official Wall Street Memes website and linking their crypto wallets. The token is currently available for $0.033, with the price expected to rise to $0.0337 by the end of the sale. Once listed on exchanges, WSM’s strong community and following are likely to drive the coin’s value even higher in the coming weeks.
Disclaimer: Investing in crypto carries high risk. This article is for informational purposes only and does not constitute investment advice. Capital loss is possible.