Recent data pointed to evidence that some meme tokens on the market are being manipulated by similar groups.
Introduced by blockchain developer X-explore allegation once again revealed how risky meme token investments are. A detailed study has shown that many meme token developers to liquidity pools before adding your assets have accumulated substantial funds revealed.
These funds are systematically added according to the data presented. sent from similar addresses and a similar amount of Ethereum (ETH) A manipulation was created in terms of liquidity and volume. In particular, in his post on the subject 3 meme tokensDrawing attention to , the X-explore team used the following statements:
We’ve noticed recently that many meme token distributors are raising large amounts of funds before adding liquidity. Does this mean that meme tokens are all manipulated by the same group? Meme coins with similar behavior include WOJAK, TRAD, NEET, and the like. If you are planning to invest in meme tokens, you should do a thorough research and risk assessment.
The liquidity manipulations in question can enable the teams that launch the project to easily reach significant profits. This fake liquidation created facilitates price manipulation on low-volume tokens.
Specifically pointed out by X-explore according to CoinGecko data Wojak (WOJAK) in the last 24 hours 27.3% while losing value Polytrade (TRADE) %12, Neet Finance (NEET) whereas 2.3% lost value.
