As the crypto market remains sluggish, newly launched meme coins have provided much-needed profitability to traders. While large meme tokens Dogecoin and Shiba Inu continue to disappoint, Pepe has generated huge profits for some investors. However, Pepe holders are now getting jittery as the token continues to plummet.
Many investors are now jumping ship to other high-quality meme tokens. The Wall Street Memes token is skyrocketing as it has raised over $1.8 million in just over 5 days. Similarly, AiDoge continues to see surging demand despite selling out its presale.
Pepe Price Prediction Remains Bearish in June
The Pepe coin is often credited with kickstarting the ongoing meme coin season with its remarkable 8000% growth. In less than a month, the freshly launched token turned several small traders into millionaires. A pseudonymous trader generated 5,000,000% profits worth over $12 million after investing just $273 into $PEPE.
However, as other tokens continue to display explosive price growth, Pepe’s bull rally came to a halt. The token is trading 71% below its all-time high of $0.00000431 that it hit on the 5th of May, 2023. $PEPE has corrected 11% over the past week and 8% in the last 24 hours itself.
A technical analysis of the token price patterns reveals that Pepe will continue to face strong selling pressure. TradingView, a technical analysis platform, gives a SELL signal in the daily time frame, which deteriorates to Strong Sell in the 4-hour frame.
The token is particularly underperforming when considering the various moving average indicators. In fact, 13 of the 14 most important moving averages point to a bearish outlook in the 4-hour time frame. The Moving Average Convergence /Divergence (12,26) continues to remain negative as $PEPE continues to plunge.
The Pepe token, based on the popular Pepe the Frog meme, enjoyed historic growth on the back of strong whale action. However, recent support suggests that the biggest Pepe whales are dumping their holdings and are often responsible for the dropping prices. Another report by data tracking firm Nansen similarly highlights that “Smart Money” traders are reducing their $PEPE holdings.
The token already struggled to gain the support of retail investors, even at its peak. Now, as the global economic conditions become uncertain, it looks like Pepe holders will continue to suffer heavy losses in June.
Wall Street Memes Explosive Start Draws Pepe Comparisons After Raising Almost $2m in a Week
While Pepe’s future looks bearish, a new meme coin called Wall Street Memes is quickly gaining momentum.
The token was recently launched on the 26th of May, 2023. In a matter of 5 days, the token has already raised over $1.8 million and will likely hit the $2 million mark in a few hours. $WSM’s strong start is drawing comparisons to Pepe’s historic growth with experts backing it to be the next 1000x token.
The group also has many successful ventures in the crypto space. It sold out its popular Wall St Bulls NFT collection in 32 minutes, netting $2.5 million. It has also recently launched its Bitcoin Ordinal NFTs. The $WSM meme coin is sure to get a strong boost from the group’s already-established Web3 community.
Similar to Pepe, the Wall Street Memes token is a fully community-driven project. The entire $WSM token supply is available to the community with no cuts for the team or any private sale. 50% of the total 2 billion tokens are up for grabs during the presale. 5 lucky degens will also receive $WSM tokens worth $10k upon registering to the token airdrop on gleam.io.
The WSM group’s reputation offers legitimacy to the meme coin, thus driving the demand for $WSM tokens. Users can still take advantage of the early presale price by heading to the project website and swapping ETH or USDT tokens or by purchasing through bank cards.
AiDoge Sells Out Presale in Record Time, Investors Have One Last Chance to Buy Before IEO
Pepe’s downfall has investors looking for rare meme coins that also provide a strong real-world value. The $AI meme token fits this description perfectly as it combines two of the most in-demand niches in the crypto market: artificial intelligence and meme coins. The token’s utility and demand have been reflected in its presale performance.
$AI raised $14.9 million in a short period of a few weeks. The project has announced that the token smart contract has already been deployed and investors can claim their tokens at the Claim & Launch event on June 19th. Investors have one last chance to take advantage of the $0.0000336 launch price after which the token is expected to skyrocket.
$AI powers the revolutionary meme generation platform AiDoge. The platform uses advanced artificial intelligence algorithms, trained on thousands of memes and crypto news, to generate high-quality and entertaining memes. The project recognises the importance of engaging memes as a method to reach out to key demographics such as young crypto traders.
$AI holders can also gain exciting rewards by posting their memes on the AiDoge.com public wall. Other community members can upvote or downvote the memes, with the winner receiving $I rewards. Investors can also stake the token to generate a profitable APY.
The project ensures secure asset management as the token smart contract has been audited by CertiK. 25% of the total token supply will also be vested with the company for 10 years to ensure the development team’s commitment to long-term excellence.
Exports believe that $AI will secure several Tier-1 exchange listings, including Binance. This will turn out to be an incredibly bullish event for the token as the prices are expected to skyrocket. Users can still jump on the AiDoge bandwagon by purchasing the token upon swapping ETH, BNB or USDT. Alternatively, investors can also buy the tokens through their credit cards.
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