The cryptocurrency market has seen explosive growth recently PSYOP TokenWith its price increasing by a staggering 1,000%.
However, this remarkable surge has also raised questions about the legitimacy of this cryptocurrency.
In this update, we’ll delve into the phenomenon surrounding the PSYOP token, explore its potential as an attractive investment opportunity, and address concerns about its authenticity.
Additionally, we will be highlighting some of the best meme coins available for investment in the current market.
Ben.eth’s Latest Meme Coin $PSYOP Generates $7 Million in ETH Sales – Promising or Risky Investment?
Renowned NFT enthusiast and creator of the viral meme coins, ben.eth, has scored a remarkable victory with his most recent effort, $PSYOP.
Over the past week, he has raised an impressive amount of over $7 million in ETH transactions through the initial sale of his novel MemeCoin.
The project gained momentum after receiving the backing of well-known crypto enthusiast, Ben Armstrong, who subsequently assumed control of the venture from Ben.eth for an unspecified amount.
Despite some warning signs related to the $PSYOP pre-sale, investors displayed an impressive show of confidence by pouring funds into Ben.eth’s Ethereum wallet, accumulating more than the total 3,860 ETH,
This scenario underscores the growing eagerness among investors to take an early part in potentially trending meme coins even in the face of significant risks.
PSYOP Token Explodes 1,000% in Price But Is It a Crypto Scam?
The PSYOP token has soared in value by 1,000%, causing a whirlwind of buzz in the crypto sphere.
However, this massive price increase has raised suspicions, leading many to wonder whether this could be another crypto hoax.
Simultaneously, Ben.eth has faced massive backlash, mainly due to their unfulfilled commitment to deliver the promised allocation to their crypto investors.
Ex-FTX engineer raises concerns
On Friday, former FTX and Ethereum engineer Vidamo raised concerns about ben.eth’s intentions for his community.
screenshot provided by Vidmo suggest that the PSYOP smart contract may allow the transfer of tokens from any whitelisted wallet to another, with varying transaction fees depending on the NFTs in the wallet.
Vydamo stated that his discomfort with the project prompted him to leave the team, forfeiting $1M worth of PSYOP tokens, despite Ben.eth dismissing these concerns as unfounded fears.
Nevertheless, Vydamo reported a standard distribution pattern for the pre-sale of tokens similar to PEPE, indicating that not all aspects of PSYOP are risky.
With significant engagement from major NFT communities, the future of PSYOP remains uncertain.
PSYOP Token Set for Binance Listing
In a recent tweet, Ben.PSYOP, the creator of the PSYOP token, announced some exciting news: $PSYOP is set to be officially listed on Binance.
This announcement could be the impetus for the token to regain its attractiveness in the market.
Ben.PSYOP encourages current and potential holders to swap and hold their $PSYOP, and also participate in the $PSYOP airdrop by liking and retweeting their announcement.
With this listing on one of the world’s largest cryptocurrency exchanges, $PSYOP is well positioned for interest and a potential jump in value.
psyop price
In view of the prevailing concerns, as per the price data from dextoolMemecoin PSYOP has seen a massive drop in price, down almost 70% to trade at $0.00006495.
Checking the four-hour time limit, psyop coin There seems to be a support level setting up around the 0.00004770 mark.
A sustained close of candles above this level, which also represents a double bottom, signals potential for an upward move.
If the coin holds its position above the 0.00004770 level, it can potentially target the next resistance level at 0.00009380.
A breach above this level could reveal the possibility of a move to 0.00001213. If the uptrend continues, it can find a price target of 0.0001500.
Conversely, if PSYOP coin continues its downtrend and breaks below the double low of 0.00004770, it could suffer further weakness towards the next supports at 0.00003200 and 0.000020.
Despite PSYOP’s current downtrend, it is worth noting that other meme coins are exhibiting significant upside potential.
These can provide attractive investment opportunities during PSYOP downturns.
Best Meme Coins To Invest
In the ever-expanding universe of cryptocurrencies, meme coin has carved a niche for itself, attracting investors with its potential for quick profits. Of these, Copium, Sponge and Adog have emerged as high potential alternative investment options.
- kopiyamShows promise, with its engaging community and strong token.
- spongeWith its unique burn mechanism and real-world use cases, holds growth potential.
- adogMeme Coin, powered by artificial intelligence, offers a new twist to the traditional Doge meme coin, suggesting it could be a rewarding venture for those willing to explore these fickle aspects of the crypto market.
As always, remember to do your due diligence before investing.