FEARNOT: Ethereum-Based Donald Trump Meme Coin Raises Concern

IconCryptoNewsTerminal Staff17 Jul, 2024

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FEARNOT: Ethereum-Based Donald Trump Meme Coin Raises Concern

FEARNOT, an Ethereum (ETH)-based Donald Trump meme coin, has raised concerns among investors due to its highly concentrated supply distribution. According to on-chain analyst ai_9684xtpa, 86 addresses hold a significant 10.36% of the total supply. The analyst highlights that the top 1-2 whale addresses alone hold a combined 43.6 billion FEARNOT tokens. This high level of concentration raises questions about the coin's stability and potential for manipulation. Investors are advised to exercise caution when investing in cryptocurrencies with such a concentrated distribution, as it can increase the risk of price volatility and potential loss of value. It remains to be seen whether FEARNOT can maintain its value or whether the concerns raised by the analyst will impact its performance in the long run.

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