Hamster

<ul><li>Animal-themed cryptocurrencies fuel the altcoin boom on DEXs, outshining Bitcoin&#39;s dominance.</li><li>Traders witness massive gains with HAMS, SNAILS, and ROACH tokens on Uniswap.</li><li>Concerns arise over volatility and liquidity as slow rugging fears loom.</li></ul>In the ever-evolving world of cryptocurrency trading, a new trend has taken center stage as DEX traders shift their focus from Bitcoin to altcoins. The emergence of animal-themed tokens, such as Hamsters (HAMS), Snail Race (SNAILS), and Roach (ROACH), has sparked a frenzy among traders, leading to massive gains on decentralized exchanges.July has become the month of altcoins, leaving Bitcoin to flirt with the $30,000 mark on centralized exchanges like Binance. Meanwhile, DEX traders have turned to Uniswap V2 and other DeFi platforms, hunting for the next opportunity to capitalize on the booming animal-themed narrative. The rise of these peculiar tokens has led to some astonishing profit-making opportunities for traders. A crypto analyst recently <a href="https://twitter.com/dealerdefi/status/1682875260532817920?ref_src&#61;twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1682875264727130113%7Ctwgr%5Ee1f876fc1bd388032bbbf6d85fb92ed948712cdf%7Ctwcon%5Es2_&amp;ref_url&#61;https%3A%2F%2Fwww.fxstreet.com%2Fcryptocurrencies%2Fnews%2Fhamsters-roaches-or-snails-animal-themed-cryptocurrencies-take-center-stage-among-crypto-traders-202307240847" rel="noopener noreferrer nofollow">spotted</a> a whale wallet that raked in an astounding $400,000 profit from a few well-timed trades involving animal-themed cryptocurrencies.One particular token that caught the<a href="https://twitter.com/dealerdefi/status/1682875269315428353?ref_src&#61;twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1682875269315428353%7Ctwgr%5Ee1f876fc1bd388032bbbf6d85fb92ed948712cdf%7Ctwcon%5Es1_&amp;ref_url&#61;https%3A%2F%2Fwww.fxstreet.com%2Fcryptocurrencies%2Fnews%2Fhamsters-roaches-or-snails-animal-themed-cryptocurrencies-take-center-stage-among-crypto-traders-202307240847" rel="noopener noreferrer nofollow"> trader&#39;s</a> attention was HAMS, which experienced exponential growth overnight. The token&#39;s value skyrocketed, earning the whale wallet an impressive $459,797 in unrealized profits. Despite the staggering gains, the whale has not yet sold the tokens, indicating a potential belief in the token&#39;s future growth.However, with immense profits come significant risks, and some animal-themed tokens have experienced sharp nosedives, wiping out gains for investors. The low liquidity on exchanges and concerns over &#34;slow rugging&#34; by developers, where large volumes of tokens are sold at price peaks, have surfaced on crypto Twitter, raising caution among traders.Read full article at <a href="https://cryptotale.org/animal-themed-coins-drive-altcoin-frenzy-on-decentralized-exchanges/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Animal-Themed Coins Drive Altcoin Frenzy on Decentralized Exchanges

CryptoTale

Other articles published on Jul 24, 2023

Solana (SOL) Price Prediction - Tradecurve Outruns Polygon (MATIC) In User Base

Can Liquid Staking Tokens Become the Next Big Thing in DeFi?

Top 3 Cryptos on Golden Cross Alert: Bitcoin, XRP, and Ethereum Price Brace for Explosive Rally!

Why Did WLD Token Soar 75% After Listing on Multiple Exchanges?

Ripple Official: XRP Coin Decision is a Turning Point! But It May Take Years for Crypto!

Taking Part in Shiba Memu’s Presale: The Meme Coin Trained to Self-Market

Join our free newsletter for daily crypto updates!