This CryptoCurrency Explodes 700% Daily, Where’s The Catch?

TL;DR

• CryptoPawCoin (CPRC) recently experienced a 680% surge in the past 24 hours, entering the top 100 cryptocurrencies by market capitalization, currently valued at over half a billion dollars.
• CPRC’s mission is to support animal welfare, but caution is advised due to its low trading volume, making it susceptible to price manipulation and potential risks for investors.

CPRC Joins the Top 100, But Does It?

There are tens if not hundreds of thousands of cryptocurrencies, but the wide majority of them never make it past the launch mark. It’s rare that we see a coin jump into the top 100 (by means of total market capitalization), and even more rarely does it happen overnight.

This seems to be the case with a coin called CryptoPawCoin (CPRC), which exploded by 680% in the past 24 hours and made the cut.

According to data from CoinGecko, CPRC is currently trading at $0.0016 and has a total market capitalization of just over half a billion dollars.

It’s worth noting, though, that the cryptocurrency doesn’t seem to appear on CoinMarketCap.

Based on its official website, the purpose of the coin is to help animal welfare:

CPRC aims to transform the way we support animal shelters, rescue organizations, and wildlife conservation efforts.

It’s worth noting, however, that the trading volume on CPRC seems rather low compared to many other cryptocurrencies that are trading at around this market capitalization. This usually means that smaller orders can impact the price more, so it’s critical to be extremely careful of such projects and approach them with utmost caution.

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