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Rekt is the newest memecoin to surge in worth because it rose by greater than 90% after being listed on exchanges.
The Arbitrum-based token has solely been round for just a few days however has generated a notable following. Like most memecoins, it has no particular function, with its website saying it’s all “about getting rekted.”
“At REKT, we believe that investing should be thrilling, not boring. That’s why we’ve created a token that’s designed for people who want to take risks, have fun, and maybe even get a little bit rekted along the way,” the web site reads.
Of course, anybody aware of the dynamics of such token choices know that they usually create extra losers than winners.
In social media posts, Rekt’s builders even play into the characterization of memecoins as high-risk investments that always depart individuals out of pocket (or rekt). They do nevertheless insist that their challenge will not be a fraud. “We won’t rug you, we will just $REKT you,” the workforce said on Twitter.
Rekt is a well-liked crypto slang meaning a complete monetary loss.
Exchanges Want Users to Get REKT
Despite the dearth of clear-cut use circumstances, the memecoin has seen a number of centralized exchanges record it for his or her customers.
AscendEX crypto change announced that it listed a REKT/USDT buying and selling pair for buying and selling. The agency added that withdrawals would turn into obtainable for its customers from April 24.
Another less-known change Lbank.com additionally announced that it had listed the REKT token.
Perhaps the most important change to record the memecoin is Justin Sun-backed Poloniex. The crypto buying and selling platform said it was excited to welcome REKT, including that it could be obtainable for buying and selling instantly.
Meanwhile, MEXC Global additionally listed REKT for futures trading with a 10x leverage. Other exchanges which have listed it embrace BitGet and the decentralized change platform, Uniswap.
Bot Helps Kick off Memecoin Season
Following the triple itemizing, REKT’s worth soared to a brand new all-time excessive of $0.00000003935, in response to CoinMarketCap data. However, it has dropped retraced to $0.00000003389 on the time of writing.
As BeInCrypto reported this week, purposely inflating the worth of cryptocurrencies by “pumping” has just lately taken a high-tech flip. What’s known as a Maximal Extractable Value bot was discovered to have profited from a minimum of two memecoin pumps that noticed the WOJAK and PEPE tokens improve in worth by 80% and over 200% respectively in a brief house of time.
Disclaimer
In adherence to the Trust Project tips, BeInCrypto is dedicated to unbiased, clear reporting. This information article goals to supply correct, well timed data. However, readers are suggested to confirm details independently and seek the advice of with an expert earlier than making any selections based mostly on this content material.
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