As BLOB Meme Coin Surges 7,000%, This Low Cap Gem Might Explode Next
BLOB has rocketed by as much as 7,000% overnight, with the coin becoming the latest new meme token to take the Solana-based Radium DEX by storm yesterday.
However, after surging to a record high of around $0.00040 yesterday afternoon, BLOB has already plummeted since, with the meme token currently down by 93% in the past 24 hours.
It therefore seems like yet another rug-pull project that will vanish as quickly as it appeared, leaving latecomers deeply out of pocket.
Fortunately, there are new tokens on the horizon that not only show promise of rallying big in the coming weeks but that also look to have plenty of staying power, with Sponge (SPONGE) being one of the most promising.
BLOB’s chart pretty much tells you all you need to know about the meme coin, with its price now flatlining after seeing a couple of big rallies yesterday.
Just as alarming is the fact that the token’s trading volume has all-but evaporated, with its liquidity currently standing at around $8,440.
That is basically nothing compared to the liquidity we see with major tokens, meaning that anyone who buys a substantial amount of BLOB now will find it very difficult to exit their positions without accepting big losses.
It would therefore seem that BLOB is already finished, even if some traders/influencers had predicted as recently as yesterday that the meme coin might enjoy a prolonged rally.
Me watching my $BLOB bag go up.
If you have been following $SOL coins the past few weeks, this has potential to really run. pic.twitter.com/t3vtz5wp14
— Maybemike.eth (@mike_ETH17) January 2, 2024
Despite what the above tweet says, most SOL-based meme coins and junk tokens have not witnessed sustained rallies, with most falling hard after initial spurts.
Traders should
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