What is $DUMMY? Exploring the DUMMY Token, “The Ultimate No Utility Meme Coin”

Step into the exciting realm of meme coins as we introduce the latest sensation: the DUMMY token. During this memecoin season, dominated by tokens like PEPE, WOJAK, and REFUND, the DUMMY coin now emerges as an exciting player making its mark. With an impressive 200% price rally in the token’s early days, this meme coin has piqued the interest of many crypto enthusiasts. But what exactly is the DUMMY token? Should you consider investing in this asset? For the answers to these questions, join us as we explore the ins and outs of the DUMMY coin!

Updated 13th June 2023 at 21:33

The DUMMY token has recently been climbing the ranks of Moralis Money and is currently topping the ”New Coins with Growing Buy Pressure” chart. With growing buy pressure, now might be a better time than ever to explore the DUMMY coin:

The DUMMY Token Price Table

What’s more, along with diving into the ins and outs of this token, we’ll also show you how to find similar assets using Moralis Money. Here is a taste of how you can easily find tokens such as $DUMMY:

What is the DUMMY Token? – DUMMY Coin Explained

The DUMMY token was minted on June 1st, 2023, and it’s an Ethereum-based ERC-20 token. In the first couple of days, the DUMMY coin skyrocketed and saw an impressive 200% price rally. The DUMMY token is currently topping Moralis Money’s ”New Coins with Growing Buy Pressure” leaderboard, indicating that buyers are showing an increased interest in this token.

But what is the DUMMY token?

$DUMMY Coin Website Landing Page

The DUMMY coin has branded itself as ”the ultimate no utility meme coin.” However, according to the DUMMY token’s website, the coin still has its own thriving economy. The community formed around the DUMMY coin consists of crypto and NFT enthusiasts. Further, they say it’s a testament to how unique projects and ridiculous things can become successful when people embrace them.

A critical takeaway here is the fact that the DUMMY token is a so-called “meme coin.” But what does this mean? 

”Meme coin” is a cryptocurrency term that describes tokens supported by an extensive online community of traders and followers. They’re generally associated with popular memes like PEPE, Doge, Chad, etc. 

However, most meme coins are without intrinsic value and are mostly trading instruments. This means their prices are based exclusively on the value put on them by their communities. This is also true for the DUMMY coin, as it is a currency lacking utility. 

DUMMY Token Roadmap

Even though the DUMMY token is a meme coin without utility, the team behind the project still presents a roadmap divided into three steps: 

  • Step 1: Dumb – The goals for the first stage include its launch, listings on CoinGecko and Dextools, gaining 2,000+ holders, and building a social media presence. 
  • Step 2: Dumber – The goals for the second step are to build community partnerships, airdrop, CEX listings, and 10,000+ holders. 
  • Step 3: Dummy – The goals for the third step include gaining 20,000+ holders, tier-1 listings, and education for dummies to make more DUMMY coin.

DUMMY Coin Tokenomics 

The DUMMY coin has a total supply of 6,969,696,969,696 tokens, and this is what the tokenomics/distribution looks like: 

  • Presale: 18.75%
  • CEX Reserve: 6.9%
  • Airdrop: 6.9%
  • Amount to Uniswap Liquidity Pool: 67.45%

With an overview of the project and the tokenomics, the critical question remains: should you buy the DUMMY token?

Should You Buy the DUMMY Token? – DUMMY Coin On-Chain Analytics

So, should you invest in the DUMMY coin? First of all, we need to take into consideration that this token is a meme coin. Since meme coins generally have little to no intrinsic value, it becomes hard to determine their price. 

They are also considered to be risky investments. This means you should always be wary of meme coins. Furthermore, we recommend you don’t blindly trust static lists, especially in a fast-moving market like the crypto industry.

Instead, your best bet in answering the question above is to use irrefutable, real-time, on-chain data as a basis for your investment decisions. Through on-chain analysis, you can easily make accurate crypto predictions and determine the overall sentiment of an asset. The easiest way to do so is to use a tool like Moralis Money! With the Moralis Money token page, you can access alpha metrics for the DUMMY token. As such, you don’t have to put your trust in static recommendations and lists when deciding to buy a token or not. 

Since the metrics for DUMMY are ever-changing, we can’t give you an answer on whether or not to buy the DUMMY token. Ultimately, you are the only one that can determine if the DUMMY coin is the right asset for your altcoin trading strategy and your willingness to take risks. 

Nevertheless, now that you’re familiar with the DUMMY token, let’s look at how you can find similar tokens. To do so, let’s start by exploring the three challenges stopping people from becoming successful altcoin traders!

FOMO, Time Limits, and Scams – The Three Challenges 99% of Traders Deal With 

Without the proper tools and systems, it can be quite bothersome to trade crypto, and several challenges stop people from reaching financial success. In this section, we’ll look at three challenges 99% of traders must deal with. 

  • The Fear of Missing Out – Even if you’re new to the crypto industry, you’ll most likely have heard of or read about someone becoming a ”crypto millionaire.” Yes, the opportunities to make huge gains trading cryptocurrencies are amazing! 

    However, the numerous success stories also induce the fear of missing out (FOMO). Moreover, in fear of missing significant opportunities, people trade emotionally. As a result, they buy tokens based on hype, only to see their assets fall shortly after. 
  • Time Limits – The crypto market is ever-changing, and new cryptocurrencies are minted daily. As such, keeping track of all the good opportunities becomes difficult, and people often need to go full-time in crypto to become successful traders. Unfortunately, this is not something everyone can afford, which is another reason people fail to see substantial crypto gains. 
  • Crypto Scams – Traders also need to continuously deal with cryptocurrency scams. And in a fast-moving market, where opportunities come and go in the blink of an eye, complete due diligence can sometimes be a luxury. 
How to Avoid FOMO, Scams, and Time when searching for $DUMMY Tokens

So, how can you seamlessly overcome these challenges? Well, we actually built Moralis Money to help you combat the three challenges above and help you become a successful crypto trader. If you’d like to know exactly how to overcome these challenges, join us in the next second as we explore the ins and outs of Moralis Money!

The Solution: Moralis Money Explained – How to Find the Next DUMMY Coin

Moralis Money is the premier blockchain trading indicator. It leverages real-time data to give you unparalleled on-chain insights. As such, as a Moralis Money user, you can effortlessly beat the market and find new crypto coins before everyone else

Find the next DUMMY meme coin using Moralis Money

So, how does Moralis Money help you overcome FOMO, time constraints, and cryptocurrency scams? Well, Moralis Money has three core features helping you overcome these challenges: 

  • Token Explorer – With Token Explorer, you can easily find tokens before they pump. This means you can stay one step ahead of the masses, sites like CoinGecko, and cryptocurrency whales. As such, you never have to FOMO into an opportunity again. 
  • Token Alerts – The Token Alerts feature lets you set up email notifications based on unique parameters. In doing so, you’ll get alerted when a new opportunity matching your preferences arise. This means you can save time and find good investment opportunities even when you aren’t actively trading in front of your screen.
  • Token Shield – Lastly, Token Shield provides security evaluations for all tokens. With this feature, you can easily detect potential scams and dodge rug pulls and exit scams. 

Also, before we move on, you should know that you can boost these features with the Moralis Money Pro plan. By becoming a Moralis Money Pro user, you get narrower timeframes for all search parameters, access to a private Discord server, access to Token Alerts, and much more! 

If this sounds interesting and you’d like to try it, check out our seven-day Pro plan trial. To sign up, all you need to do is visit our pricing page and hit the ”Start a 7-day trial here!” button: 

Nevertheless, let’s look closer at each of Moralis Money’s core features, starting with how you can find coins similar to the DUMMY token.

Find Tokens Similar to DUMMY Coin Using Token Explorer 

With the Token Explorer feature, we can easily find coins with market data similar to the DUMMY token. However, to do so, let’s first analyze the current market data of the DUMMY coin: 

Alpha Metrics of the $DUMMY Token

The image above is the alpha metrics for the DUMMY coin taken from the Moralis Money token page. We can use this data to create a unique search query that will give us a dynamic list of tokens with similar metrics to the DUMMY token. 

To do so, let’s start by adding the Coin Age filter. This will give us fresh coins minted within the past month: 

We also know that the DUMMY coin has increased in, for instance, holders and experienced net buyers. As such, let’s combine the Coin Age filter with the Holders and Experienced Net Buyers metrics: 

Lastly, to remove potential scam coins, we can also add the Security Score metric: 

Adding these filters will generate a dynamic list of potential altcoin gems and even maybe the next DUMMY token! From here, you can add any of the other 15+ Moralis Money metrics to make your query even more unique and targeted. 

If you’d like to learn more about some of the tokens in the list above, check out our Wagmi Coin, NiHao Coin, and Psyop Coin guides.

Overcome Time Limitations with Token Alerts 

After setting up a custom query to find the next DUMMY token using Token Explorer, you can now set up an alert appertaining to the filter in question using Token Alerts. If you’d like to do so, start by saving the query: 

Next, head to the Moralis Money homepage, scroll down, find your filter, click on the bell button, and add the required info: 

Once you click ”Start Monitoring,” you’ll start to receive email alerts when a new token matching your preferences emerge. This means you can now effortlessly find tokens even when you aren’t actively trading! 

Note: Token Alerts is a Pro plan feature. As such, if you’d like to use this feature, consider subscribing to the Moralis Money Pro plan

Dodge Scams Like a Pro with Token Shield 

With Token Shield, you get a clear security evaluation for all tokens. You simply need to look for the shield symbol when using Token Explorer: 

The number attached to each shield is the token’s DEXT score. This score is used to measure the confidence of a project. The higher the score, the less likely a token is to be a scam. 

The score is calculated using several different factors. This includes liquidity, the number of holders, social aspects, etc. To learn more about the score, click on one of the shield symbols, and you’ll be taken to the following page: 

Analyze the DUMMY Token – The Power of Moralis Money

If you want to analyze the DUMMY token yourself, check out the interactive widget below. Using this tool, you can see price developments over time, the current token price, changes in liquidity, holders, net volume, and much more: 

Beyond Crypto Trading – Crypto Affiliate Marketing 

Did you know there’s more than one way of making money in crypto? Along with crypto trading, another easy route toward financial success is crypto affiliate marketing. Moralis Money offers an industry-leading affiliate program, entirely for free! 

So, what makes the Moralis Money affiliate program unique? 

  • Commission Structure – If you decide to become a Moralis Money affiliate, you’ll earn a whopping 30% lifetime commission on all brought-in revenue. As such, as a Moralis Money affiliate, your road toward financial freedom is shorter than you can imagine. 
  • No Signup Requirements – Many of the best crypto affiliate programs have some signup requirements. However, with Moralis Money, there are no prerequisites. As such, all you have to do is sign up, and you can start earning money immediately! 
  • Killer Product – Last but not least, as a Moralis Money affiliate, you’ll promote a killer product. In doing so, you’ll have no problem illustrating the value of Moralis Money, as you’ll be promoting a product that is basically selling itself. 

So, if you’d like to set up your own affiliate marketing side hustle, sign up for the Moralis Money affiliate program today! 

Summary – What is the DUMMY Token?

In today’s article, we explored the DUMMY token. The DUMMY coin is a meme coin that has recently been topping the Moralis Money ”New Coins with Growing Buy Pressure” chart. Moreover, the DUMMY token experienced a 200% rally in the early days of the coin, catching the interest of many crypto enthusiasts. 

In combination with exploring the DUMMY token, we also showed you how to find similar assets with Moralis Money – the premier Web3 trading indicator. Furthermore, Moralis Money has three core features: 

  • Token Explorer – With this feature, you can seamlessly find the next 100x meme coin
  • Token Alerts – With Token Alerts, you can get email notifications so you can act on new opportunities even when you aren’t actively trading. 
  • Token Shield – Token Shield provides a security evaluation for all coins, protecting you from common cryptocurrency scams. 

Also, remember that you can supercharge these features by subscribing to the Moralis Money Pro plan

WRITTEN BY David Olsson
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