PORK Memecoin Surges Over 450% in Less Than Two Days
A pink Pepe-The-Frog-themed memecoin called PORK has experienced a surge of over 450% in less than two days. Shortly after its launch, PORK reached a market capitalization of $200 million, making it the ninth largest memecoin in the crypto market. The token was launched on Uniswap and is also tradable on MEXC.
PEPE and the Meme Frenzy
PORK is an offshoot of PEPE, an Ethereum-based meme token that gained significant popularity during the meme frenzy of the first half of 2023. During this period, many speculators made huge profits from investing in altcoins. However, it was also a time filled with rug pulls and scam tokens.
PORK Token Holders and Skepticism
According to Dexscreener and Etherscan, PORK has a supply of 420 trillion tokens. The top 10 holders own over 15% of the supply, with all these addresses being less than two days old. Some members of the PEPE community have expressed skepticism about PORK, accusing its promoter, Pauly0x, of operating Ponzi schemes.
The Future of PORK
It remains to be seen whether PORK will surpass PEPE and become one of the top memecoins. The token currently has around $12 million in unlocked liquidity and a fully diluted valuation of $202 million. However, trading memecoins comes with risks due to their volatility and the potential for liquidity withdrawal by developers.
Hot Take: Proceed with Caution When Trading Memecoins
If you’re considering trading memecoins like PORK, it’s important to exercise caution. These tokens can experience significant price movements and volatility, and there is always a risk of scams or liquidity issues. Make sure to do thorough research and understand the potential risks before investing in any memecoin.
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