A new coin named after Elon Musk’s upcoming company, X-Ai Corp (XAIC), has soared more than 2,000% on PancakeSwap this weekend — an AI crypto project likely to be a pump and dump scam piggybacking on the trend. That’s why we don’t recommend buying XAIC.
What is X-Ai Corp (XAIC) coin?
Often following viral breaking news events, unscrupulous developers create a fake coin and list it on decentralized exchanges such as Pancakeswap or Uniswap – where anyone can list a coin – and manipulate the price as they limit the token supply. are the owners of. Nothing is known about the XAIC coin that exploded on Saturday.
Around this time last year, the Will Smith Inu (WSI) token appeared on PancakeSwap after the Academy Awards, and became a pump and dump not affiliated with the actor or Chris Rock. its market data No longer tracked on CoinmarketcapAnd its domain is on the Metamask warning list.
many random shincoins DEX platforms also sprung up after the death of Queen Elizabeth.
While some joke coins are easy to spot, counterfeit coins are somehow named after Elon Musk, Tesla or His new AI company X.Ai Corp With all the artificial intelligence hype could be more dangerous.
Legitimate AI crypto coins are flourishing in recent months – singularitynet (AGIX), Fetch.ai (FET), OCEAN and RLC to name a few – and investors are always on the lookout for the next cryptocurrency to explode. FOMO’ing a coin up by a thousand percent though is a recipe for disaster.
XAIC Token Liquidity
according to data from coinbrainThe 24-hour volume that caused XAIC’s price to pump over 2,000% this weekend is actually minimal, and its verified liquidity is very low.
For beginner crypto investors, in other words, even if you make a profit, you will have a hard time selling any significant amount of XAIC tokens without a drop – large orders will not be filled at a given XAIC price.
The XAIC token can also dump as quickly as it pumps – when holders of a majority of the XAIC supply sell and ‘pull the rug’.
Elon Musk has not announced any upcoming crypto projects that he supports, only lending his support to Dogecoin and Bitcoin. Several new coins on PancakeSwap that name themselves after the billionaire SpaceX founder are malicious, some even have manipulated smart contracts that prevent buyers from being able to sell.
we recommend sticking with new coin listing On centralized exchange (CEX) platforms instead of DEX, unless you are an experienced trader. X-Ai Corp has already corrected 50% from its top, and most predictions on social media are for its complete retracement.
calling himself’ChatGPT Killer by Elon‘, an X Ai Corp Token Twitter account also falsely claimed that Elon Musk mentioned XAIC, and posted photoshopped images.
analyst gaming crypto The BscScan link posted shows that the owner of $XAIC has 99.9% of the supply and that the token liquidity is just 0.5 BNB.
Best crypto to buy now
invest in a new cryptocurrency Starting your roadmap with a high upside potential is usually a winning strategy – as long as the project is legitimate.
crypto news has reviewed several upcoming crypto launches that are still in the pre-sales phase that, unlike XAIC Coin, have a public team behind them.
One of the most anticipated projects of 2023 is Love Hate Innu (LHINU), which has now raised close to $5 million in its pre-sale.
Its CEO is upset – Carl Dawkins A veteran in the cryptocurrency space, having worked with several brands and exchanges, and been a speaker at blockchain conferences around the world.
Featured as the best crypto to buy now on Yahoo Finance, Bitcoinist, Finbold and many other media outlets, analysts have highlighted Its a vote for earning utility as bringing something new to the meme coin space.