As TELE Token Shoots Up 50,000%, Crypto Whales are Accumulating This Lesser Known Meme Coin Before it Lists on Exchanges
In the latest straight to DEX moon-shot, TELE token has fired up +50,000% in a seismic move sending shockwaves through DEX markets.
This comes amid a wider interest in DEX tokens that take aim at the emerging trend for Telegram trading bots, which enable traders to execute bot trading strategies.
Despite a backdrop of gloom and doom from major crypto assets like Bitcoin, which dropped overnight due to the combined news that Chinese giant Evergrande have filed for bankruptcy, and Space X have sold their BTC stack - TELE is trading high at a current price of $0.295 (a 24-hour change of +29,286%).
Launched at just 9PM yesterday (August 17), TELE gained almost immediate traction in the opening hour as eagle-eyed DEX traders took aim at the narrative potential of the project.
This drove an initial +7,225% candle in the opening hour, firing price up from $0.003 to $0.225, in a move that caught DEX markets off-guard.
With a monolithic launch candle, the steady flow of traction soon trickled into a flood of DEX volume, with more than $3.6m in trading volume sweeping into the project.
The price of TELE boomed - hitting an all-time high around 3AM the following morning (August 18) at $0.40, leaving early backers sat on top of an almost +50,000 gain from launch.
Better yet? TELE is still riding high, with a well-defended consolidation above $0.25 in the 7 hours since.
And with TELE still trending as the 'Hot #6' on DEXtools, it could be that all is not over quite yet.
However, as ever with DEX trading, there are some risks - it is noteworthy that despite the +$3.6m market cap, there is only $238k liquidity locked - and with a 3% transactional tax, if price collapses it might be harder to sell than 1.2k bag-holders anticipate.
As the meme
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