Banana Gun relaunched after scam accusations – BANANA coin jumps 15%

Key Takeaways:

• Banana Gun relaunches its token despite the 1.0 fiasco.
• The team provided the new tokenomics and supply distribution.
• BANANA coin price inched 15% higher on Sep 15.

YEREVAN (CoinChapter.com) — Banana Gun, the latest hype among Telegram bot-enabled tokens, announced the relaunch of its same-name token on Sep 14. The team posted the new contract address and details about the expected Airdrop.

The team pinned the relaunch time 20:00 UTC on Sep 15, with a “launch price” of $6.20. The launch market cap stood at $14.8 million, with $2.1 million in liquidity. The latter included 170,000 BANANA tokens and approximately 650 ETH, depending on the price, tweeted the team earlier.

The 1.1% we keep liquid and in reserve in case we need to correct airdrops (even though we’re convinced they are right). We have left-over because we essentially used team & treasury funds to buy back tokens. If these tokens don’t need to be sent out for correctional airdrops we will burn this supply.

read the anouncement.

Banana Gun coin rose 15% after relaunch.

BANANA followers didn’t take the announcement at face value, given the previous launch fiasco and the abundance of scam accusations. In short, the token lost all its valuation right after the launch, allegedly due to a bug in the code, which two audits missed, the team claimed. The users successfully found it using ChatGPT.

Meanwhile, one of the commenters suggested two outcomes of the relaunch, both devoid of trust.

Apparently, Banana Gun did not lose all its followers in the first launch attempt, as the second one pumped the coin by 15%. BANANA price reached $10.8 and was still rising as of 10:00 GMT on Sep 15.

According to the BANANA tokenomics, the circulating supply at launch stood at approximately 2.38 million, which would pin the market cap at around $24 million at the current price. However, some supporters claimed a $80 million market cap minutes after BANANA hit the market.

As of writing, the Banana Gun token traded against wrapped Ethereum (WETH) on Uniswap V2 and V3.