Another X Meme Token Shoots Up 20,000% on DEXTools After Elon Musk Twitter Rebrand But Crypto Experts Say It's a Scam – Here's the Coin They're Stacking Instead

cryptonews.com:

As Elon Musk's Twitter rebrand continues to send shockwaves around the world, redefining a leading platform in the social media space, off-shoot 'X' meme tokens have seen sensational returns.

And in the latest price surge, another fresh-faced meme coin, also called 'X' has shot up +20,000% overnight.

This comes following a similar moon-shot earlier this week by another 'X token', which saw investors ride a +4,300% pump on DEX markets.

Launched in the early hours of Tuesday 25, X token gained intense traction within an hour of hitting meme coin markets, surging from a launch price of $0.084 to a dizzying $0.063 in a dramatic pump.

But fuelled by a significant influx of more than $226k in immediate volume, the sensational run pushed even higher - with price action topping out at $0.064250 just four hours after launch.

This intense push up saw the early backers amass an eye-watering +20,000% gain - outdoing the earlier run of fellow 'X Token' within less than a quarter day of trading.

The ferocity of this pump was driven by intrepid ranks of 420 holders that amassed 1.62k in transactions of the sudden pump.

But with price now in tight fought retracement, some experts have begun to allege that this new entrant in DEX markets could be yet another scam due to low liquidity locked.

While the fundamentals remain strong, with open source coding and limited transactional taxes, this FUD has fuelled speculation that the electric run of X token might now be past its sell-by date.

Yet, despite the fact many now consider it to be too late to invest in X token, another enigmatic meme coin is making waves in the space - rocketing up to become one of the biggest meme coin presales of 2023.

Leading the meme coin pack this July is the dedicated meme