Shares Bot Climbs by 250% - Will it Maintain Momentum?

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Shares Bot, a Telegram-bot crypto, has witnessed a rapid climb on the price charts and has increased by 248% in the last 13 hours. Is it another Pepe in the making?

This increase is paired with a high RSI, edging above the oversold zone. Complementing this bullishness is another technical indicator – Moving Average Convergence/Divergence – which converges in a positive direction, with the histogram showing bold greens.

All indicators say that the bullishness around this token is high. But does this token have what it takes to keep up its momentum?

What is Shares Bot Token (SB)?

Shares Bot is a new category of crypto assets derived from Telegram bots that arrived in June of this year and took the market by storm. Shares Bot is the latest addition that, according to Dextools, is the first telegram bot to implement trading, sniping, and tracking for any social network shares on any protocol.

What are Telegram Bots?

Telegram bot tokens are described as tokens powering decentralized applications – automated apps – that let users do on-chain trading and implement farming strategies through Telegram by linking the wallets to the bots.

CoinGecko New Category: Telegram Bots 🫡

We've just added a new category for Telegram Bots tokens.

Check it out here: https://t.co/8MO6PC6JGv pic.twitter.com/o0WYnIRA4i

— CoinGecko (@coingecko) July 19, 2023

Coingecko created a different category of these tokens. They have a collective market capitalization of $235.7 million. Over the last 24 hours, their trading volume has been $17.7 million.

Shares Bot not Listed as Telegram Bot

While Shares Bot has gotten a lot of traction according to DEX tools data, with its 24-hour trading volume up by 183% and 643 transactions so far, out of which 363 are buys, it hasn’t made its way to CoinGecko.

The reason for the same can be seen in the crypto asset’s score, 89 out of 99. While that is not out of place for this token, other factors could be keeping this from joining the list of legit telegram bots.

The first is the buy and the sell tax, which are 5% and 5.03%, respectively.
Furthermore, the Smart contract hasn’t been verified by Hapi.
Other two factors that could be contributing to stopping this token from being more ubiquitous are the Antiwhale measures and Trading Cooldown.

On a positive note, the balance isn’t adjustable, which makes it look more like a legitimate asset. However, it has been blacklisted by GoPlus – traders should beware.

SB Alternative – Wall Street Memes

While Shares Bot is making waves at press time, there are other, better crypto assets that investors should be focusing on. Wall Street Memes is a memecoin project that has established a massive following on social media platforms, with over 260k followers on Twitter alone.

Wall Street Memes is a community designed to follow the footsteps of Wall Street Bets (no affiliation). Just like Wall Street Bets mobilized the gaming community to push the value of the Gamestop stocks up, Wall Street Memes wants to empower the community to transform WSM into a wealth-generating asset.

Helping create this community are memes that focus on financial comedy, bringing the intricacies of investments under a comedic spotlight. These tweets have gotten thousands of impressions and more than a few responses from community members.

At least AI can't trade either pic.twitter.com/wvdyVf0Lfx

— Wall Street Memes (@wallstmemes) August 28, 2023

Furthermore, these tweets have been powerful enough to gain the interest of Elon Musk – the Dogefather. The SpaceX founder has interacted with Wall Street Memes on more than a couple of occasions.

Does Elon Musk Support Wall Street Memes?

The times that Elon Musk has interacted with Wall Street Memes, he has either commented using an emoji or has agreed to a statement made by the tweet. While you can’t think of it as the billionaire businessman endorsing the project, the engagement says much about Wall Street Meme’s reach.

Due to these factors, Wall Street Memes has already raised more than $26 million in its presale, and within less than a month, it is coming to tier-1 exchanges. Those looking for early bird gains can visit wallstmemes.com to participate in today’s presale.

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