New Viral Coin ATM Pumps Up 2,500% But Blockchain Analysts Say Its a Scam – Here's the Next Crypto to Explode
As On-Chain Summer continues to grip DEX markets, new viral meme coin ATM Bank (ATM) has exploded +2,500% but with concern growing over a potential pump-and-dump - smart money are rotating profits ahead of the biggest CEX listing of H2 2023.
The stunning ATM pump comes amid a period of high volatility for often newly launched meme tokens, which in recent weeks has seen major narratives such as Telegram trading bots and Twitter X-themed post dramatic moon-shots as trading volume on DEX explodes.
ATM appears to be a spin-off of an emerging ICO for ATM Bank token, which is currently in presale offering a promise of an AI-powered cashgram ecosystem.
The spin-off token has successfully parroted off the original ATM's marketing efforts in a cunning move by the On-Chain team.
Amid the huge upside move, ATM is currently trading at a market price of $0.000143 (representing a 24-hour change of +3,610%).
This comes only 25-hours after the ATM Bank spin-off token launched, at 9:00AM on September 5.
Traction was initially slow for ATM as it climbed from $0.0000005 to $0.00001412 across the first 18-hours trading, with slow volume delivering modest gains of only +132%.
However, at 3AM this morning (September 6), ATM price exploded almost +1,000%.
The dramatic move captured the attention of eagle-eyed DEX traders, and a flood of more than $450k in trading volume swept into the project triggering a major rally up to an all-time high at $0.00033.
With early-backers sat on-top of jaw-dropping +4,500% gains at 10AM, ATM entered into retracement, with price suddenly giving way, tumbling down -57% to local support above $0.00015.
Yet, despite the retracement move - buy pressure remains strong - representing 71% of transactions over the past hour -
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