AUSTIN, TEXAS: After the ROGAN/WETH pair was uploaded to UniSwap yesterday, the price of the Joe Rogan meme token shot up to $0.00001376, an increase of more than 20,000% in the last 24 hours.
This makes it the most recent meme currency to experience gains noticeably above average for the year. However, like the majority of other new meme coins, it is highly improbable that ROGAN has any real connection to the original material.
Chances of a rug-pull
However, given how recent ROGAN is, it may continue to experience strong gains in the near future, even though the possibility of a rug-pull is always present with meme tokens. Meanwhile, Thug Life Token (THUG), which is demonstrating increasing success in its presale, has the potential to overshadow ROGAN in favor of a newer, more hyped meme coin.
At the risk of sounding cynical, it is likely that the issuer(s) of ROGAN was aware of its potential for a significant price increase because they intended to artificially inflate its value before ultimately selling its holdings to retail investors.
Pairing with Wrapped Ethereum (WETH)
Without a doubt, ROGAN's price has significantly increased since it was paired with Wrapped Ethereum (WETH) on Uniswap yesterday. A rising price tends to attract traders who believe they can enter and exit the market before it declines. Therefore, even though the demise of ROGAN seems highly probable, it would be unwise to completely dismiss the possibility of future gains for the token.
In the case of Thug Life Token (THUG), a new ERC-20 token that has aligned itself with the gangster rap and hip-hop communities, the same cannot be said. THUG is currently conducting its presale, which aims to establish a community of holders and fans before its listing on trading platforms. This is in contrast to ROGAN, which has directly listed on exchanges.
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