Ben Coin Rebounds After Ripple CTO's Allegations that $BEN is a Rug Pull

Ben coin which was created by the famous YouTuber and crypto analyst BitBoyCrypto AKA Ben Armstrong surged more than 10% in a single day. After getting backlashed by Ripple's CTO previously. The $BEN coin has been flagged as a rug pull as per David Schwartz. 

Ripple's Chief Technology Officer (CTO), David Schwartz, replied to a crypto enthusiast's tweet on Monday, calling the BEN Coin idea a 100% rug pull. Schwartz questioned the poster's belief while expressing misgivings about the new crypto initiative. 

Every day, new cryptocurrencies enter the market. Scam ventures and rug pulls, on the other hand, trick naïve clients into investing.

For your convenience, A rug pull is a cryptocurrency fraud in which the project creator abruptly withdraws the business's liquidity, taking investor cash with him. This causes a dramatic reduction in price and losses for investors until Tuesday.

Ben Price Surged Even After the Backlash

A cryptocurrency enthusiast feels the BEN coin project was a total sham. In response to the tweet, Schwartz questioned the user whether he thought the rug pull will happen again or if Bitboy's engagement in the project was a rug pull. Schwartz went on to say that he believed one of those situations.

Ben Armstrong, also known as BitBoy, a crypto influencer, just released the Ben Coin (BEN), a new meme coin that began trading on May 8 with an initial worth of $0.000000014788. Since then, it has increased by 874.16% and is now worth $0.000000157946. BEN is ranked #390 in the market and has a current trading volume of $79.8 million.

The BitBoy BEN token's success can be credited to his 1 million-strong Twitter following, which, when combined with his recent bullish words, has boosted the token's worth, popularity, and acceptance. The BEN coin is linked to Ben DAO, a decentralised autonomous organisation comprised of people called Ben in the crypto world, resulting in community support and involvement.

The token is getting huge traction on the chart today, as bulls appear to be in charge of the situation. It signifies that the asset's price volatility is bullish.

Ben (BEN) is currently trading at $0.000000064316 with a 24-hour trading volume of $3,584,056. This indicates a 3.64% increase in the previous 24 hours and a -45.41% decrease in the last seven days. Ben has a market valuation of $26,992,379 with a circulation supply of 420 Trillion BEN.

Source: CoinGecko

The huge announcement which will drive the price further is that now Ben has been totally submitted to Ben Armstrong and the transfer from Ben.eth will take place within a week.

About Ben Coin

Ben (BEN) is an Ethereum blockchain-based cryptocurrency. The token depicts a Berne doodle dog, formerly known as Ben the talking dog, and is available on numerous Android and iOS app stores. It is currently active on 4 market(s), with a total volume of $84,455,844.20 traded in the last 24 hours. More information may be found at bencoineth.com.