As JJ Coin Rises 20,000% Overnight, This May be the Next Crypto to Explode

cryptonews.com:

JJ Coin has risen by as much as 20,000% overnight, with the new meme token currently sitting on an 11,000% gain in the past 24 hours.

Such eye-watering percentages make JJ one of the best-performing new tokens in the market today, although the coin is actually down by 71% since reaching a record high of approx. $0.0005129 very early this morning.

And with some traders warning that the coin may be a potential rug-pull, it may already be too late to profit from it, given that it may have begun a terminal decline.

However, there are other new tokens in the market at the moment with stronger fundamentals, with SPONGE currently in the process of launching the second version of its coin, in tandem with a new staking model and an exciting new play-to-earn game.

There are a couple of key things to say about the JJ Coin chart below, with the first being that the token’s price is struggling to regain strength after dipping from an early record high.

Indeed, after a couple of very modest bounces at around 8:00am and 9:00am, it doesn’t seem that it’s able to regather the momentum it had upon listing.

Its volume also doesn’t look too good, with DEXTool’s putting the coin’s liquidity at only $32,000.

Such low levels of liquidity are certainly worrying, although it should be said that, at the very least, JJ Coin’s price doesn’t exhibit the steep fall-off pattern that classic rug-pulls tend to show.

This could suggest that the token is more of a very minor meme coin than an outright scam, although some traders aren’t entirely convinced.

And stay away from $JJ

Damn, the top 3 coins on @dexscreener are possible rugs