PigLido Meme Coin Gains 30,000% in 24 Hours and Wall Street Memes Could Be Next – Here's Why

cryptonews.com:

In a stunning display, DEX token PigLido has skyrocketed a mind-blowing +30,000% in just 24-hours, and with a second-leg seemingly underway - how high could this moon-shot go?

PigLido token appears to be a spin-off of PigLido (PIGO) - a brand new Web3 ecosystem aiming to simplify access for users in developing nations in Asia and Africa.

Plans for the genuine PigLido project include the development of an exchange for Bitcoin and Ethereum, along with a market for NFTs and yield farming - all with the promise of AI integrations.

Amid the explosive DEX launch, PigLido is currently trading at a market price of $0.003115 (representing a 24-hour change of +37,836%).

Launched at just 5AM on August 30, the token saw limited traction in the first hour of trading, however, at 6AM - 24-hours before the genuine PigLido presale ends - the spin-off project exploded +29,790%.

The monumental candle came as $397k in trading volume engulfed the token, driving price to a local high at $0.0032.

Yet, as the token brought gains for early backers to an impressive +37,836%, alarm bells began ringing as it emerged that the fake PigLido token could actually be a scam coin.

An examination of the four token audits revealed serial issues in the smart contract including blacklisting, the existence of a mint function, a hidden owner, and signs of a honey pot - such as no liquidity pool lock.

And while buy pressure remains strong; with 70% of transactions over the past 24-hours being buys - concerns emerge over the increasingly shady outlook for this fake project.

But while 285 bag-holders endure in the hopes of a second-leg to the huge DEX rally, smart money have already began to rotate their profits to the biggest meme coin CEX launch of Summer 2023.

Wall