Hot Take: Beware of CAT and SHIBARIUM, Consider BTC20 and Shibie Instead
A BNB blockchain-based meme coin called Cat (CAT) has experienced a significant pump of over 100% in value, while another meme coin called Shibarium Token (SHIBARIUM) has seen a surge of over 130%. However, there are concerns regarding the legitimacy of these coins.
Key Points:
- CAT’s market cap has surpassed $1 million, with impressive trading volumes in the last 24 hours. However, the liquidity of over $300,000 is not locked, raising the possibility of a rug pull.
- SHIBARIUM, with a market cap close to $1 million, is suspected to be a scam. The token’s website falsely implies association with the Shiba Inu ecosystem, taking advantage of the hype surrounding the Shibarium launch. The $300,000 in DEX liquidity is also not locked, and the issuer can pause transfers.
- Consider BTC20 as a more reliable alternative. It is a rebirth of Bitcoin on the Ethereum blockchain, with the same tokenomics as Bitcoin in April 2011. The token can be staked, providing a passive income opportunity with APYs currently over 60%. 88% of BTC20 liquidity is locked for 12 months, and there are no concerning aspects identified in the token contract.
- Shibie, a newer token combining the Shiba Inu dog meme with Barbie, has shown promising performance since its DEX launch. With 100% locked liquidity for three months and no concerning aspects in the contract, Shibie could benefit from the Shibarium launch and perform well in the market.
Consider investing in BTC20 and Shibie for a potentially better risk-reward opportunity, while exercising caution with CAT and SHIBARIUM.
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