XELON Meme Coin Surges 1,000% After Going Viral and Crypto Gurus Say This in the Next Crypto to Explode
The price of new meme token XELON has surged by 110% in the past 24 hours, with its ascent to $0.000005259 marking a gain of more than 1,000% since listing on Uniswap a couple of days ago.
This makes it one of the best-performing new coins in the market, with its use of Elon Musk- and Twitter-related memes helping it to go viral on social media.
However, 2023 has taught us that new meme tokens with no real community behind them are almost certainly destined to crash as hard as they rose, a possibility which retail investors should seriously consider before even touching XELON.
And while XELON is likely to dump soon, certain newer meme tokens actually boast the support and following they need to have sustained lifecycles, with Wall Street Memes (WSM) set to become one of the most successful new altcoins of the year after raising more than $25 million in its presale.
There's not much to say about XELON's chart, other than that it appears as though the latest flavor-of-the-week meme coin has already begun its inevitable descent back to Earth.
After reaching a record high of $0.0000084 in the early hours of this morning, the coin has already fallen by 37%, and will probably fall even further before the day is done.
As with other meme tokens that directly list, the reason for this is that XELON's issuers had probably kept the bulk of its supply to themselves, so when the coin rose in price on Uniswap they decided to take their profits and run.
And once XELON falls by more than 50% in a day or so, it's likely to be finished for good.
Fortunately, there are other new meme tokens in the market, with some actually having the communities that are necessary for them to endure beyond their initial listings.
The prime example of such a token
Read more on cryptonews.com
