New Religious Cryptos Pump - Are They Scams? God, Mary, Baby Jesus Coins Top Crypto Gainers Today
Three new meme coins with a religious theme were listed on Uniswap today, May 22nd - $GOD, $MARY and $BABYJESUS - making the top crypto gainers list on DEXTools.
Each has a low DEXTscore and some warnings under the contract details section of their DEXTools links - exercise caution when buying new DEX coins.
Jesus Coin (JESUS), launched last month, is also among the top trending cryptocurrency assets today on CoinMarketCap.
Often a large percentage gain on a decentralized exchange is a sign of low liquidity, more so than real interest from buyers - meaning there aren't enough sell orders in the order books to stop the price from exploding, and a low buying volume can cause a pump in the thousands of percent.
At the time of writing all three new meme coins have a liquidity under $100,000, and fully diluted market capitalization under $1 million:
Experienced traders can still profit from new tokens, but beginners often get burnt - since as soon as a significant selling pressure comes in from early holders, the price can crash just as fast as it rose, the 'pump and dump' chart pattern.
DEXTools provides an automatic audit of each tokens' smart contracts, which is not 100% accurate but can be a useful resource when reviewing new Uniswap listings, which are attracting increasing numbers of investors.
$GOD token has been flagged as having a blacklist function in its contracts, as has $BABYJESUS.
$MARY has been flagged as having the function to modify the maximum amount of transactions or the maximum token position.
These warnings and low liquidity issues don't apply to other popular meme coins such as $PEPE, $COPIUM, $RFD, $SPONGE and others among the most trending cryptocurrency assets - DEXTools' 'hot pairs' list.
When those more
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