Rekt is the latest memecoin to soar in value as it is up more than 90% after it was listed on the exchanges.
The Arbitrum-based token has only been around for a few days but has generated a remarkable following. Like most memecoins, it has no specific purpose, however website Saying it was all “about getting an order”.
“At REKT, we believe investing should be exciting, not boring. That’s why we created a token designed for people who want to take a risk, have fun, and maybe even get a little change along the way,” the site reads.
Of course, anyone familiar with the dynamics of such token offerings knows that they usually create more losers than winners.
In social media posts, Rekt developers even play to characterize memecoins as high-risk investments that often leave people out of pocket (or rekt). But they insist their project is not a scam. “We won’t wear you down, we’ll just refund you,” Team He said on Twitter.
Rekt is cryptic slang for a complete financial loss.
Although there are no clear use cases, memecoin has seen several centralized exchanges list it for its users.
AscendEX crypto exchange announce They have included REKT/USDT trading pair for trading. The company added that withdrawals will become available to its users from April 24.
Another lesser-known exchange is Lbank.com, too announce It has included REKT code.
Perhaps the largest exchange to list memecoin is Justin Sun-backed Poloniex. Cryptocurrency trading platform He said He was excited to welcome REKT, adding that it will be available for trading immediately.
Meanwhile, MEXC Global also listed REKT for Futures trading With 10x leverage. Other exchanges listed include BitGet and decentralized exchange platform Uniswap.
Bot helps kick off Memecoin season
After the triple listing, the value of REKT rose to a new all-time high of $0.00000003935, according to CoinMarketCap. data. However, it is down to $0.00000003389 at the time of writing.
As BeInCrypto reported this week, inflating the price of cryptocurrencies via “pumping” has recently taken a high-tech turn. The so-called maximum minable value bot was found to have profited from at least two memecoin pumps which saw the value of WOJAK and PEPE tokens increase by 80% and more than 200% respectively in a short period of time.
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