Homer Simpson (HOMER) Is The Top Crypto Gainer on DEXTools - But Blacklists Buyers From Selling

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Up over 30,000% in the past 24 hours, $HOMER token is the top crypto gainer today – but DEXTools’ audit gives it a blacklist function that indicates it’s a scam.

Recently released tokens often have such high levels of surge due to low liquidity rather than actual demand. And with the blacklist functionality enabled, there is a high likelihood of Homer Simpson being a scam asset.

Homer Simpson (HOMER) is Top Crypto Gainer, Up by 30,000%

Homer Simpson (HOMER) was released on 1st July 2023 and didn’t make any news until a few hours ago, when its price suddenly went up by 32,000%. There have been 131 transactions for this token in the last 24 hours, 97 buys, and a trading volume of $121,000. The token’s current liquidity is $176,080.

DEXTools have an audit that has revealed that this token has a blacklist function, which can stop certain buyers from using this token.

Conventionally, blacklisting is also used by major cryptocurrency exchanges to prevent misuse of an asset. But in the realm of recently released memecoins, it may be used for engineering scams by stopping buyers from selling the tokens.

Elon Musk ($MUSK) is another token that also had the blacklist functionality and is believed to be a scam.

Homer Simpson has a total supply of 420 billion, and there has been a total of 326 transactions total. That indicates that many whales are moving behind the scenes. And with the blacklist function on, there is a possibility that many of them won’t be able to sell their assets.

The trust score of this token, however, lies at 87.5%, and the recent transaction charts show that there are more buyers than sellers.

Top Crypto Wall Street Memes is a Better Alternative

The surge of memecoin tokens that are gaining ground quickly has increased over the past week. Many of them have corrected heavily, leaving many holding the bag at peaks. That is why crypto presales are better investments, as they allow users to make gains away from the current market’s volatility.

Wall Street Memes is a memecoin project by the online community of the same name. It is leveraging its strong social media presence, which includes 1 million followers and interaction with Elon Musk himself, to gain traction during the presale.

The community is in constant touch with the current financial scenario through memes, and these memes are continuously engaging the wider crypto space.

Jim Cramer advised not to buy Tesla during its IPO in 2010 when the price was $1.13 (split adjusted) pic.twitter.com/NCL7zEvXfP
— Wall Street Memes (@wallstmemes) July 7, 2023

Such social aspects have pushed Wall Street Memes to raise close to $14 million in its presale. While the project is of minimum utility, its strong community presence makes it a good contender for being the next big cryptocurrency this year. Experts believe that people’s current level of interest in this asset is priming it to become the next 10x crypto of 2023.