VADER Meme Token Rockets Up 25,000% But Crypto Experts Are Accumulating This Other Token Before it Lists on Exchanges
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VADER has gained by 40% in the past 24 hours, with the new meme token posting a massive 25,000% gain since it listed as a pair with Wrapped Ethereum (WETH) on Uniswap.
This makes VADER one of the best-performing coins in the market right now, yet it has already been marked as a "scam" on DEXTools, with analysis indicatig that the token's creators have set up a multi-blacklist to prevent buyers from selling their holdings and avoiding a dump.
This means that retail investors should avoid VADER at all costs, with the ability to make a profit off the token being all-but nonexistent for everyone bar its issuers.
However, there are new meme tokens in the market that do offer genuine opportunities for gains, with the Wall Street Memes (WSM) presale now raising more than $13.7 million, which provides a sign that it will rally big when it lists on exchanges.
VADER Meme Token Rockets Up 25,000% But Crypto Experts Are Accumulating This Other Token Before it Lists on Exchanges
Given that VADER has been labelled as a scam, it would be silly to provide its chart with serious analysis.
However, it is indeed suspicious that its price hasn't moved in the past half a day, something which we have observed with a high number of new meme tokens.
For this reason, careful retail investors shouldn't go anywhere near VADER, unless they're happy transferring wealth to fraudsters.
And the problem with coins such as VADER isn't only that they take money from real people, it's that they run the risk of making all new meme tokens and altcoins look similarly suspicious.
However, that certainly isn't the case, with at least some other new tokens having the strong online presences, communities and digital trails that indicate their legitimacy.
An excellent example of this is Wall Street Memes (WSM), an ERC-20 token that has emerged out of the meme stocks movement, which was responsible for the GameStop and AMC rallies of 2021.
Impressively, WSM has already raised more than $13.7 million since beginning its presale last month, a clear sign that it has attracted a sizable community of followers who are excited by the coin's future prospects.
Another clear sign of WSM's expanding community is that it now has over 250,000 followers on Twitter, something which signals that it does have strong roots and a real presence in the meme stocks movement.
In comparison to a non-coin like VADER, this growing community will prove highly valuable to WSM, enabling it to rally big when it lists on exchanges and also enabling it to have a long lifespan.
Supporting WSM's community-focus is the fact that it has a maximum total supply of two million, with 50% of this supply being allocated to its presale and 30% going towards community rewards.
This will not only make WSM a highly decentralized token, but it will also protect against the kind of big dumps or market declines that can follow when creators offload their holdings.
Interested investors can participate in the sale by visiting the official Wall Street Memes website and linking their crypto wallets, with 1 WSM now available for $0.033.
This price will eventually rise to $0.0337 by the time the sale ends, with WSM's strong community and following likely to push the coin much higher once it establishes itself on exchanges in the next few weeks.
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