Ron DeSantis Themed Token $RON Soars Over 7,000% After Presidential Campaign Launch
In the ever-evolving world of cryptocurrencies, new tokens are constantly appearing, especially after important events. Lately, a new wave of tokens centered around the upcoming US presidential election has caught the attention of speculative investors. One of these tokens experienced an astonishing surge of over 7,000% in just 24 hours.
This unique token is named RON, bearing the moniker of the governor of Florida, Ron DeSantis. Its value skyrocketed by 7.178% on decentralized cryptocurrency exchanges in a day. However, despite its impressive performance, RON has faced criticism due to its small number of holders and concerns about its audit. Audits reveal that creators can modify their smart contracts, giving them the ability to manipulate fees, create new tokens, transfer certain tokens, or even disable sales on exchanges.
Immediately after RON is another politically themed token called $RFK, inspired by Robert F. Kennedy Jr. This token experienced a rapid increase of more than 4,000% in a few hours. Governor DeSantis, a key player in the ongoing cryptocurrency drama, recently announced his candidacy for the 2024 US presidential election. Initially making the declaration on Twitter, he followed up with official documents at the end of the week. DeSantis is a firm believer in Bitcoin’s role as a protector of civil liberties, emphasizing the potential and unparalleled freedoms the digital asset offers to its users.
While these politically themed tokens are of great interest to investors, caution should be exercised. The risks associated with this new token are significant, especially considering that anyone can list it on a decentralized exchange such as Uniswap or PancakeSwap. Investors should be careful and do thorough research before jumping into this venture.
The cryptocurrency space has also witnessed an important trend in memecoin. Recently, a mysterious “super” memecoin hunter achieved trading profits that rivaled the Wall Street giants. This trader raised a staggering 562.64 ETH, equivalent to over $1 million, in just one month trading memecoin.
However, PEPE, a memecoin inspired by internet culture, has failed to match the trading frenzy surrounding rivals such as Shiba Inu ($SHIB) and Dogecoin ($DOGE), as per an analysis by popular crypto analytics firm Santiment. Binance, a leading exchange, warns potential investors about PEPE, highlighting the lack of built-in utility or value support mechanisms. Additionally, concerns over potential insider trading were raised, as 7% of token supply was allegedly purchased by insiders or team members sometime after the token generation event.
Despite these concerns, the PEPE market has experienced a tremendous boom, making it one of the top 100 digital assets after several centralized exchange listings. In a stunning turn of events, one lucky investor managed to turn a small investment of just 0.125 ETH into an astounding $1.14 million in a matter of days by entering the market at the right time.
As with any investment, it is important for individuals to be mindful of the risks involved. While the allure of quick profits may be tempting, thorough due diligence is essential to successfully navigate this volatile landscape. By staying informed and careful, investors can make more informed decisions and protect their investments in the ever-evolving world of cryptocurrencies.
