Degen

Degen Chain, operating as a layer-3 blockchain atop the Base network, has captivated investors and traders with its impressive transaction volumes, nearing $100 million within just 24 hours of its inception. Since its launch four days ago, the network has witnessed an influx of over 272,000 unique transactions, accompanied by the creation of more than 7,500 contracts and 2,300 tokens. However, concerns arise as numerous tokens on the platform are associated with rug pulls or scams, underscoring the speculative and precarious nature of the cryptocurrency realm.