The biggest crypto gainer today on Uniswap is Elon Musk (MUSK), but has some red flags – according to DEXTools the new meme token has a blacklist function in its smart contracts.
At the time of writing $MUSK is up almost 30,000% – large percentage gains within the space of just a few hours are often due to low liquidity, rather than real buying volume and demand.
What is Elon Musk (MUSK) Token?
The Elon Musk crypto crypto asset was listed on Uniswap on July 1st, has approximately $133k liquidity and a 24 hour volume of $70k. Its market cap is $1.2 million, with 180 holders and a DEXTscore of 86/99.
Past rugpulls – such as PepeHUB last week – have had a blacklist function, in which certain wallet addresses are unable to trade normally.
For example certain holders may not be able to sell, explaining why the price is rising and the token is among the top crypto gainers.
MUSK coin is not yet on CoinMarketCap, although other unrelated Elon Musk (MUSK) assets are – which also emerged to be scams.
The token description on DEXTools for $MUSK reads:
“$MUSK – Risk-taking and imagination are keys to success Take a chance or regret it!”
New Meme Coins Elon Musk Has Interacted With
Long-time proponent of Bitcoin, Dogecoin and cryptocurrency in general, Elon Musk has not mentioned the $MUSK token.
One new meme coin we’ve recently reviewed here at CryptoNews, which Elon Musk has engaged with – at least replying to its memes on Twitter – is Wall Street Memes (WSM).
While its unclear if Elon Musk is aware of the $WSM token and its ongoing presale, he has replied to the @wallstmemes account on Twitter three times.
Read our full Wall Street Memes project review here.
Disclaimer: This section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.
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