Is X-Ai Corp a Good Crypto to Buy Now? 2,000% Pump for AI Project of Elon Musk

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The recently popularized coin PancakeSwap is named after Elon Musk’s X-Ai Corp (XAIC), an AI-related cryptocurrency project, which has seen a surge of over 2,000% since the weekend. Although there are a few speculations that this could be a pump and dump scheme, there is no confirmation for this yet. Here’s why we wouldn’t recommend buying XAIC.

What is X?Ai Corp (XAIC) Coin?

Fake coins are usually created by malicious developers and listed on decentralized crypto platforms such as PancakeSwap and Uniswap. Nothing is known about the XAIC coin that has exponentially increased in price over the weekend. Last year, the same occurred with Will Smith Inu Token (WSI) after the Academy Awards, which is not associated with the actor. Currently, the market data of this token is not available on CoinMarketCap and its domain is on MetaMask’s warning list.

Many of these random coins are easily identified, as they have names that are similar to the original ones. For example, Elon Musk, Tesla, and his new AI venture X.Ai Corp, could be used to illustrate how Artificial intelligence can be dangerous. On the other hand, legitimate AI crypto projects such as SingularityNET (AGIX) and Fetch.ai have seen a considerable rise in value. However, investing in a coin that has increased by thousands of percentages is not recommended.

XAIC Token Liquidity

According to data from Coinbrain, the 24-hour volume that caused the XAIC to surge over 2,000% over the weekend was actually very small, and the verified liquidity of the XAIC is also tiny. This means that if you are not an experienced trader, it is difficult to sell large amounts of XAIC tokens at an exact rate. Moreover, XAIC could easily be dumped if the holders of the majority of the XAIC stock sell and ‘pull the rug’.

Elon Musk has never officially announced support for any cryptocurrency project, but the only one he has talked about is Dogecoin. Furthermore, many new coins on PancakeSwap named after the SpaceX founder are malicious, and some even have smart contracts that prevent buyers from selling.

To avoid any potential scams, it is better to use centralized exchanges platforms (CEXs) rather than DEXs. X-Ai Corp stock has already recovered 50% of its peak, and social media predictions are that the price will go back to the original level. The false claim that XAIC is the ‘ChatGPT Killer by Elon’ has been made by a Twitter account, not by the billionaire himself.

Best Crypto to Buy Now

Investing in a new cryptocurrency when it is early in its roadmap and has a high potential for growth is a good strategy, provided that it is a legitimate project. At the moment, there are many upcoming crypto launches that are still in the presale phase and have a team of public members behind them. One of the most awaited projects for 2023 is Love Hate Inu (LHINU), which has already raised close to $5 million. Its CEO, Carl Dawkins, is an expert in the crypto world and has spoken at several blockchain events around the globe.

The best cryptos to buy right now are those that have been recommended by multiple media outlets, such as Yahoo Finance, Bitcoinist and Finbold. Analysts have highlighted the importance of voting for a coin to be useful, as it brings something new to the meme space.

 

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