New coin listing EAGLE has surged by over 2,000% after appearing on Uniswap yesterday, with the meme token reaching a record high of $0.0012 earlier today.
However, the coin has already begun dumping fast, sinking to $0.00005215 as of writing.
This would suggest that EAGLE could be yet another pump-and-dump, with the token showing no real signs of recovering after its big fall in the past hour.
Fortunately, there are some new tokens that actually have a genuine roadmap and real fundamentals, with Bitcoin ETF Token’s increasingly successful presale suggesting that it could have a big listing in the next few weeks.
New Coin Listing EAGLE Explodes 2,000% on UniSwap
If there’s a sure sign of a risky token, it’s a chart that exhibits the classic ‘Bart Simpson’ rise-and-fall pattern.
As can be seen below, EAGLE’s price rose suddenly in the early hours of the morning, after a big spike in volume.
Source: DEXTools/TradingView
It’s therefore likely that a manipulator (or two) put in a big buy order, aiming to pump the coin’s price.
This rise then seemed to attract a few more smaller buyers, who helped push EAGLE higher over the course of several years.
Yet as is evident from around 10:00am this morning, EAGLE has more or less collapsed.
Worse still, there’s little new volume coming in to restore the token to its former levels, implying that it may never recover.
As the glow of #Eagleinu illuminates the financial landscape, it becomes the guiding light, signaling a new era of decentralized possibilities. #1000Xhttps://t.co/gxkCBGf1WMhttps://t.co/1Ip12yOgaK pic.twitter.com/neQ5cxgI2w
— Eagleinu (@Eagleinux) November 17, 2023
It’s also significant that the link to the BNB/EAGLE trading pair on PancakeSwap presents traders with a warning that “if you purchase a fraudulent token,” you expose yourself to “permanent loss of funds.”
New Bitcoin ETF Project Launch Approaches
For this reason, most traders will be much better off giving EAGLE a miss and looking elsewhere for market-beating gains.
Finding such gains can be difficult, yet there are a number of methods for picking out genuinely promising coins from the sea of junk tokens.
One of the most reliable methods is to find successful presales, with coins that raise bigger sums of money generally accumulating the kind of momentum and following that can result in big gains further down the line.
One coin that fits this description is Bitcoin ETF Token (BTCETF), an ERC-20 cryptocurrency that has raised $2.6 million in its presale.
#BitcoinETF hits beyond the $2.6 Million mark!
Which recent #Crypto news has intrigued you in the past few weeks?
Hashtag the topic that grabbed your attention the most. pic.twitter.com/Qd350sFqYm
— BTCETF_Token (@BTCETF_Token) December 5, 2023
In contrast to most other new cryptocurrencies this year, Bitcoin ETF Token has emerged with a strong design.
It plans to burn 25% of its total supply in instalments, with the coin destroying 5% batches whenever Bitcoin or Bitcoin ETFs reach particular milestones.
It will burn its first 5% when an SEC-approved Bitcoin ETF reaches a volume of $100 million, a landmark which will probably happen at some point in 2024, given how close Bitcoin ETFs are to gaining approval.
On top of this, holders will also be able to use BTCETF for staking, giving them a reason to hold it in addition to its deflationary tokenomics.
Investors can join its presale at the official Bitcoin ETF Token website, where they can buy BTCETF at a price of $0.0062 per token.
Yet it’s only a matter of time before the token’s deflationary mechanism push this price much, much higher.
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.
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