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How this meme coin reached the market capitalization of $327 trillion

TokenTalk Staff

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How This Meme Coin Achieved a Market Capitalization of $327 Trillion

A Solana-based meme coin called BONKKILLER has reached a staggering market capitalization of $327 trillion. Launched on April 29, this meme coin attracted attention by surpassing each nation’s combined GDP.

However, BONKKILLER is a honeypot scam.

BONKKILLER holders cannot sell the meme coin

Despite only having more than 1,143 holders, the coin recorded a trading volume of around $4.24 million in 24 hours. According to crypto analytics platform Birdeye, more than 90% of tokens are controlled by the creator. Additionally, a “freeze authority” feature prevents holders from selling their assets, effectively trapping their investments.

BONKKILLER’s alleged market capitalization is an anomaly ea stern warning. This figure eclipses the Bitcoin market capitalization over 300 times. The flagship cryptocurrency itself has a market capitalization of around $1.2 trillion.

To put that into perspective, the memetic currencyIts valuation is 3.28 times global GDP, which amounts to about $100 trillion. This inflated number stems from the non-tradable status of most tokens, exposing the prevalence of honeypot scams.

To know more: Crypto Scam Projects: How to Spot Fake Tokens

BONKKILLER Price-performanceBONKKILLER Price-performance. Source: Bird’s eye

Despite clear warnings about its deceptive setup, investors continue to purchase BONKKILLER tokens. The scheme has already extracted $1.62 million from victims in 11 transactions.

This exploitation takes advantage of the common “fear of missing out” (FOMO) that drives many to invest in seemingly profitable opportunities.

From an initial supply of 1 Solana (~$140), the developer who created the BONKKILLER scam coin has now coughed up nearly half a million dollars. Dealers keep giving this guy free money,” said crypto researcher Gnarleyquinn She said.

Recent investigations by blockchain experts have revealed similar patterns in other cryptocurrency ventures. On-chain investigator ZachXBT reported a dozen others The Solana-based meme coin projects were abandonedcosting investors $26.7 million overall.

These projects often start with promising high returns, but ultimately leave backers with nearly worthless tokens.

To know more: How to Buy Solana Meme Coins: A Step by Step Guide

Additionally, a study conducted by cybersecurity firm Blockaid found that at least 50% of presale tokens on Solana blockchain from November 2023 to February 2024 were rip-offs. The co-founder of Blockaid, I do Ben-Natan, linked the increase in fraudulent activity to the growing popularity of meme coins during pre-sale stages.

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In compliance with Trust Project guidelines, BeInCrypto is committed to providing impartial and transparent reporting. This news article aims to provide accurate and timely information. However, readers are advised to independently verify the facts and consult a professional before making any decisions based on this content. Please note that our Terms and conditions, Privacy PolicyAND Disclaimer They have been updated.



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We are the editorial team of TokenTalk, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on TokenTalk, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Sealana Token Is Claimed to Be the Next Meme Coin to Explode as Pre-Sale Ends in Just 5 Days – Branded Spotlight Bitcoin News

TokenTalk Staff

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Sealana Token Is Claimed to Be the Next Meme Coin to Explode as Pre-Sale Ends in Just 5 Days – Branded Spotlight Bitcoin News

https://news.google.com/./articles/CBMid2h0dHBzOi8vbmV3cy5iaXRjb2luLmNvbS9zZWFsYW5hLXRva2VuLWlzLWJlaW5nLWJhY2tlZC1hcy10aGUtbmV4dC1tZW1lLWNvaW4tdG8tZXhwbG9kZ S1hcy1wcmVzYWxlLWVuZHMtaW4tanVzdC01LWRheXMv0gEA?hl=en-US&gl=US&ceid=US%3Aen

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Mexican Cartels Using BTC, ETH, USDT, and Other Tokens to Buy Fentanyl Precursors: US Treasury

TokenTalk Staff

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Mexican Cartels Using BTC, ETH, USDT, and Other Tokens to Buy Fentanyl Precursors: US Treasury

The US Treasury Department’s Financial Crimes Branch has reported the growing use of several crypto assets to support Mexican drug trafficking

The US Treasury Department’s Financial Crimes Branch has reported the growing use of several crypto assets to support Mexican drug trafficking

The US Treasury Department’s Financial Crimes Branch has reported the growing use of several crypto assets to support Mexican drug trafficking

AccessTimeIconJune 20, 2024, 5:08 pm

Updated June 20, 2024, 10:04 pm

US authorities have warned of Mexican cartels using cryptocurrencies to buy precursors to make fentanyl. (Jesse Hamilton/CoinDesk)

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Bitcoin, Ethereum and Furrever tokens with cutting-edge 10% referral bonus.

TokenTalk Staff

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Bitcoin, Ethereum and Furrever tokens with cutting-edge 10% referral bonus.

New York City, NY, June 20, 2024 (GLOBE NEWSWIRE) —

Looking to the future of cryptocurrencies, Bitcoin remains strong as the market leader, while Ethereum continues to fascinate meme coin enthusiasts. Now, Furrever token is ready to join the fray. This article looks at what Furrever Token brings to the table alongside these giants.

Bitcoin price continues to fall as whale activity deepens

Bitcoin price fell below $65,000 on Wednesday, after expanded whale exercises that will be offered orders. Meanwhile, hedge funds have experienced a slowdown in the introduction of Bitcoin, which could be fueled by a steady surge in Bitcoin ETFs.

Ethereum ETFs may not cause the price of ETH to rise as many predict

The price of Ethereum (ETH) has risen more than 4% in the past 24 hours after the Securities & Exchange Commission (SEC) abandoned its examinations of Ethereum 2.0 amid the desire for spot ETH ETFs. In any case, subsequent ETH energy ETFs may not lead to the expected price increase.

The Furrever token stands out for its innovative 10% referral program.

The Furrever Token presale has so far raised over $1.3 million, with the project currently at level 9 and aiming for a total of $1.9 million.

Furrever Token offers delightful customer engagement focused on feline-themed symbolism and community-driven engagement. The untapped referral framework allows customers to earn 10% in $FURR tokens for every store created via their individual referral connection, making for a fabulous passive income opportunity. This framework does not incentivize users, but also cultivates the natural development of the community.

Backed by a comprehensive review by Securi Lab, Furrever Token ensures a secure and reliable stage for its customers. The project guide incorporates the progressive integration of feline-themed material and the energy of future shocks, situating it as an interesting and enjoyable speculation within the crypto space.

Don’t miss the opportunity to include Furrever Token in your venture portfolio and get ready to rule the meme coin industry. Visit www.furrevertoken.com to secure your tokens and be part of this crypto space.

Join the Furrever token presale now:

Official website of the Furrever token

Visit the Furrever token presale

Join the official Telegram group

Follow the official X account

Media contact:
Roberto Smith
https://furrevertoken.com/
support@furrevertoken.com

Disclaimer: The information provided in this press release does not constitute a solicitation for investment, nor is it intended as investment advice, financial advice or business advice. We strongly recommend that you practice due diligence, including consulting with a professional financial advisor, before investing in or trading cryptocurrencies and securities.

CONTACT: Robert Smith

support at furrevertoken.com




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Altcoins on the move! Do ImmutableX (IMX) and LimeWire (LMWR) Suggest a 20% Uptrend?

TokenTalk Staff

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Top Four Altcoins with 100X Potential to Stack Right Now

The cryptocurrency market continues to see negative price action over the past few days with elite cryptocurrencies such as Bitcoin AND Ethereum tokens that experience significant corrections in their respective portfolios.

However, on the other hand, altcoins have seen growing bullish sentiment, with mid- and small-cap tokens recording the highest gains. Tokens like LimeWire (LMWR) and ImmutableX (IMX) have seen a massive uptrend in their valuations this week.

With increased price volatility in the cryptocurrency space, will these altcoins continue to overwhelm major crypto tokens this month?

IMX Crypto Sees Increase in Price Volatility:

The ImmutableX token gained around 1% in the last 24 hours and recorded a +3.86% change in its trading volume. Furthermore, the IMX price has added over 9.50% to its portfolio in the last 3 days. However, its weekly returns stand at -11.19%, indicating mixed price action.

TradingView: IMX/USDT

With a trading price of $1.59 and a market capitalization of $2.4 billion, the ImmutableX coin price has successfully secured the 39th position in the global cryptocurrency market list.

The technical indicator, RSI, shows a bullish crossover in the 1D time frame. However, the 50/200 day EMA has registered a Death Cross, highlighting mixed sentiment for the price of IMX coin in the cryptocurrency market.

If the market pushes ImmutableX price above the $1.677 resistance level, the bulls will continue to rise and prepare to test its upper high of $2.12. Conversely, a trend reversal could push the IMX cryptocurrency towards its crucial support level of $1,235 in the coming times.

Does LimeWire (LMWR) price suggest a bullish reversal?

LMWR price has seen an increase of 34.85% in the last day with a 107% increase in trading volume. On the positive side, with the altcoin’s recent surge, it has leveled out all the losses incurred this year. This indicates a growing bullish sentiment for the LimeWire token in the market.

TradingView: LMWR/USDT

The SMA indicator shows a positive crossover on its price chart, highlighting a strong bullish reversal for the LMWR token in the crypto space.

On the other hand, the Moving Average Convergence Divergence (MACD) records a steady uptrend in its green histogram with its averages showing an increasing pattern. This highlights a high possibility of bullish price action in the coming period.

If the bulls continue to gain momentum, the LMWR price will break above the $0.450 mark and head towards the $0.690 upper resistance level. However, in case of a bearish price action, LimeWire price could lose momentum and plummet towards the crucial $0.2210 support level.

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