BOT Token Surges 1,000% in 24 Hours But Experts Say It's a Scam – Here's the Coin They're Stacking Instead
Straight to DEX tokens remain the strongest performing coins this summer, and in the latest August skyrocket fresh market-entrant Base Bot (BOT) token has exploded more than +1,000%.
This comes amid a surge in interest around telegram trading bots, which have engulfed trading activities in a frenzy over the past two months, with leading projects such as Unibot growing to an impressive $100m+ market cap.
With price reeling after the huge upside DEX move, BOT is currently trading at $0.2352.
As sell pressure grows, a significant localised retracement move is underway, with price action bleeding-out -60% since the daily high at $0.575.
This comes following a jaw-dropping +1,190% pump, which gripped BOT / WETH markets as an influx of more than $100k in liquidity flooded into this star-shot at launch around 10 PM on August 1.
The sudden spike enticed more than 400 holders to race in, driving price up for 8 consecutive hours on a sensational moon-shot that no doubt made ranks of investors rich.
But some are already raising the alarm on this project, and it's not because of the bleed-out retracement price action.
The concern arises because of a lack of locked liquidity, which could leave ranks of well-intentioned bag holders trapped holding tokens they cannot sell due to low liquidity at $41.5k (which is currently less than 25% of the $234k market cap).
With more than 300 of the 434 holders likely unable to sell, and a small liquidity pool that could vanish in the blink of an eye, analysts are raising the alarm, and already DEX traders are taking note and moving onto the next moon-shot project.
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