• DAVE is a new meme coin that has surged 4,400% in the past 24 hours.
• According to CoinMarketCap, the asset’s price started at $0.00281 with a maximum supply of 100,000,000 DAVE coins.
• Data from Gopluslabs shows that the asset owner can mint new tokens, disable selling, or even transfer tokens which could be signs of a rug pull.

DAVE Token Skyrockets 4,400% in 24 Hours

The crypto world is abuzz with another meme coin entering the arena – DAVE. According to data provided by CoinMarketCap, the asset’s price has skyrocketed since its launch on May 30th at 05:00 UTC. The token’s starting price was $0.00281 and has a maximum supply of 100,000,000 DAVE coins per CMC.

Scammers Take Advantage

Unfortunately some scammers have been taking advantage of these fan-favorite tokens to steal investors’ funds in different ways. Despite this setback there are still many holders worldwide who support these meme coins with dogecoin (DOGE) being one of the first projects back in 2013 when it was created.

Price Analysis

At the time of writing according to data provided by CMC, DAVE rose by over 4,400% in the past 24 hours and is trading at $0.1267 . Data shows that the meme coin’s self-reported market cap has already risen to $12.69 million and its 24-hour trading volume is still below $250 000 according to CMC which might show abnormal token activity .

Rug Pull?

Data from Gopluslabs suggests that currently 4 .77 %of total supply belongs to creator while 69 .37 %has been sent to dead wallet holding 187 cryptocurrencies including 3 .5 billion worth SHIB . The interesting part is that it gives permission for creator to mint new tokens , disable selling , or even transfer tokens which again may show signs of rug pull .

Conclusion

The data analysis above shows mixed signals regarding DAVE as some suggest increased token activity while others point out potential danger signs such as rug pulls or scams linked with this cryptocurrency project but only time will tell if it succeeds or fails eventually