Dogecoin Could Be A Pump And Dump After 91% Increase. This Is Why You Should Invest In Less Volatile Meme Token Big Eyes Coin

Amid Dogecoin's spectacular few days, some have raised their concerns on Twitter that Dogecoin could be a part of a pump-and-dump scheme.

Following Elon Musk's completion of the acquisition of Twitter on October 27 2022, the price of meme currency Dogecoin (DOGE) has been rocketing. In the last seven days alone, the price of DOGE has shot up by a staggering 91%. A move unprecedented for the bear market.

Considering Elon Musk has already been sued for apparently pumping and dumping the price of Dogecoin before, the sentiment remains among crypto enthusiasts.

Is now a good time to invest in valueless meme coins such as Dogecoin? Or more utility-based or presale coins such as Big Eyes Coin?

What Is A Pump And Dump?

'Pump and dump' is a term taken from the stock market but can equally be applied to the crypto sphere.  A shrewd scheme which attempts to increase the price of crypto through fake information. This is called a 'pump'.

Those involved in a pump-and-dump scheme typically have a great amount of the crypto's stock and are ready to sell where the value of a token is high. This creates the 'dump' and subsequent crash of a cryptocurrency.

Dogecoin Sees 91% Rise In Value Over Last Week. Does This Mean Danger?

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From the 23rd of October 2022, Dogecoin has seen its value take to the moon, with a 116% token increase (since the time of writing this article) and an additional $9,660,000,000 in market capitalization.

The most prominent spike in Dogecoin's price was in 2021 when the token reached a market capitalization of $85 billion. However, many attributed the peak of Dogecoin to Elon Musk's promotions of the token over Twitter.

Because Dogecoin is a meme currency, it has no intrinsic value other than culture. Being a meme coin based on popularity, Dogecoin is known to be volatile. In that sense, it is very easy for Dogecoin's value to be pumped upwards. For instance, many are citing Elon Musk's acquisition of Twitter as one of the key reasons for its recent rise.  

Whether this is an intentional and manipulative pump-and-dump scheme is highly questionable, considering that Dogecoin has only cultural value anyway.

If investors do not want to see their holdings crash, they should look to other places that provide better stability.

Go Big Or Go Home: Big Eyes Coin Is A More Stable Meme Token Than Dogecoin

This is where investing in a presale meme coin like Big Eyes Coin may be incredibly handy. As BIG, the native token of Big Eyes Coin is not released onto the market just yet, the only way for this currency is up right now.

Over the last few months, Big Eyes Coin has amassed an astonishing amount of presales. $10,000,000 of BIG has been bought up, and that figure can increase by $500,000 in a single day. Additionally, Big Eyes Coin has established a steady presence on social media, growing a Twitter following to nearly 60,000 despite being a new currency.

The success of the Big Eyes Coin presale is a brilliant example of where this currency could go once it is released onto the market. Additionally, the feline-based token contract has been audited by Solidity Finance and proven to be 100% secure, and the team fully verified by CoinSniper to ensure there are no rug pulls and complete project safety.

With a wholesome message about saving the world's ocean, Big Eyes Coin is set to have more value and perhaps just as much popularity (if the presale is anything to go by) than Dogecoin.

Use the code BEYES3111 for a BIG bonus.

For more information on the project:

Presale: https://buy.bigeyes.space/

Website: https://bigeyes.space/

Telegram: https://t.me/BIGEYESOFFICIAL