Key Takeaways:
- Pond Coin price jumps 15% on a hoax Binance listing.
- Given the dropping trading volumes, PNDC traders can expect a drop.
- The token is a PEPE-related meme coin.
YEREVAN (CoinChapter.com) — Pond Coin (PNDC) price jumped 15% in the previous 24 hours and stood at $0.000001476 on Aug 21. The recent uptrend brought PNDC’s three-day gains to 80% after the coin bottomed out at $0.0000008344 on Aug 18.
However, the coin hinted an upcoming reversal due to dropping trading volumes. According to crypto tracker CoinMarketCap, PNDC trading volumes declined over 30% daily, parallel to the price increase.
If the PNDC bulls can keep up the rally longer, a likely target would stand at a previous resistance of $0.000001709. However, a more likely outcome of the Aug 21 session is a price drop to $0.000001349, considering that the reason behind today’s uptrend was a hoax by an online Pond Coin shill.
A pseudonymous X.com account @YazanXBT tweeted an upcoming PNDC listing by Binance on Aug 21. A similar event is typically a bullish push for low-rank altcoins. However, the alleged listing is nowhere in Binance’s books.
Binance has a PNDC page featuring the coin’s price action and a “How to buy Pond Coin” blog article. But the platform has NOT permitted trading for the coin.
What is Pond coin (PNDC) all about?
PNDC is a rank #2185 altcoin with a market cap of just over $32 million, spawned by the recently-successful meme coin PEPE. The official website claims that all who wish to mine PNDC will get PEPE rewards.
According to Pond Coin’s X.com account, PNDC claims were opened on Aug 21. The tweet also mentioned that the coin was up 600% in the previous 11 days and urged its followers to ignore the FUD.
The FUD’s origin is the “scam” claims, which is also not uncommon in the crypto sphere.
PNDC team also “thanked” Matt Furie, the creator of the original animated series “Pepe the Frog,” by gifting him $1 million in PEPE coins, spawned using PNDC mining.
Notably, Furie has nothing to do with the coin and does not belong to the PEPE team.
