TBOT Token is Up 10,000% in 24 Hours But Blockchain Experts Say It Has a Hidden 100% Tax Function – Here's What They're Stacking Instead
As hype around telegram trading bots such as Unibot continuesd to grow, Turbobot token (TBOT) has been the latest straight-to-DEX product launch to undertake a sensational skyrocket price move.
Launched on August 7, Turbobot token gained explosive growth after igniting a flood of volume which drove price up +34,200%.
This comes amid a massive amount of interest around telegram-based trading bots, which connect to DEX markets and conduct trades according to pre-defined rules on behalf of traders.
However, red-flags are now emerging with allegations of a hidden 100% tax function, which makes it impossible for intrepid DEX traders to realize their gains.
At 3am in the early hours of August 7, TurboBot token was launched on DEX markets, instantly garnering significant investor attention that ignited 4 consecutive hours of explosive upside price action.
Despite the initial 7,250% rally, there was a major retracement (-50%) as European DEX markets awoke to the sensational move.
However, a strong support zone established around $0.002650 quickly bought up the sell-pressure, and this strong footing unleashed a monumental +190% movement over the next 5 hours as more than $200k in volume flooded into the project.
With price topping out at an all-time high of $0.0075, on paper gains for early investors stood at a staggering +34,200%
Yet, as price action seemed to be posting an altcoin moon-shot, a crisis began materialising for bag holders - a hidden 100% transaction tax.
This prevented freshly-minted investors from realizing their astronomical gains as any attempt to sell would cause the loss of everything.
Panic around the 100% sales tax catalysed the collapse of impressive technical structure - unhinging a seismic -80% dump.
Yet, despite
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