MARIO CEO is getting more popular, especially for being part of the top-gaining crypto this week. The token, which was launched on May 2 on Binance Smart Chain, has had more than a 300% gain in the past few days and is being talked about by many who would like to multiply their gains.
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A Little More About MARIO Token
The project was created to resolve issues of insufficient continuous trading volume and has the bigger goal of dominating the metaverse ecosystem with its native system, MarioceoVerse.
The token has less than $100k 24-hour trading volume, with most of its trading volume coming in the last two days. This could be a reason to be wary of the project to avoid being dumped on the market.
Risks and Benefits of Investing in a Project with Less Than 100K Daily Trading Volume
Investing in a project that has less than $100,000 in trading volume is risky. You may find it challenging to quickly buy and sell without a major change in price (slippage). The wide gap between the ask and bid lines may lead you to keep losing money.
Such cryptocurrencies can also be quickly manipulated since one entity with less than 100k can easily move the price and dump a lot of people with lesser amounts in the market.
On the other hand, the project is still in its beginning state and offers an early investment opportunity for those who are looking to invest in it before it gains wider recognition. Also, such projects usually offer high returns; this cannot be overstated, seeing that it increased by more than 300% in two days. One can also argue that less competition in such a project may always make you buy at a better price.
Always remember that there are no rewards without risks, and the crypto market is always a risky one. Your investment decisions should always be well-informed and properly calculated.
Why Is Mario CEO surging?
First, it has been seen that many traders in Pancakeswap are buying the crypto, and with such aggressive buying, the price is left with no choice but to continue to rise. However, it can drop sharply when the traders start to withdraw their funds.
It had also been mentioned among traders that it was recently added to another decentralized exchange, BodaSwap.
The rising surge in price and popularity also helped the token get 800 new holders within 48 hours.
The token has a high burn rate, according to its developers, deducting 4% of each transaction total to burn to help the token stay sustainable, with a stream goal of being listed on 30 major exchanges. It is currently on CoinMarketCap, Coinbase, and CoinSniper.
All these made it to the front page of the top-gaining crypto on Binance and also have a rising popularity on Coinmarketcap.
Conclusion
The recent price surge of MARIO CEO shows both the risks and opportunities of investing in lesser-known cryptocurrencies. While the potential for high returns exists, especially for early investors, the volatility and potential for manipulation are also greater. As with any investment, thorough research and calculated risks are advised. The coming days and weeks will show whether MARIO CEO is a short-term pump or if it can sustain its momentum.
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