- From meme fame to wallet drain, $PEPE’s value takes a nosedive, leaving investors questioning its future.
- WSM’s $25M presale and ties to Wall Street Bets could make it the next meme coin sensation.
- Investors ponder the fate of $PEPE and await WSM’s ICO, hoping for a new crypto star.
The Pepe ($PEPE) meme coin was on everyone’s radar months ago. Consequently, its value surged by a staggering 9000%. Investors swarmed to its allure as its value touched $0.00000431. The tables have, however, turned for this once-promising meme coin. In a mere span of 30 days, $ PEPE’s value has plummeted by 23.39%.
However, bulls have recently grabbed control, sending PEPE’s price soaring from its daily low of $0.0000006652 to its 24-hour high of $0.0000006952. As a result, at press time, PEPE was trading at $0.000006873, up 3.04% from its 24-hour low.
The market capitalization of PEPE climbed by 3.17% to $269.29 million while the 24-hour trading volume declined by 7.24% to $52.53 million.
Potential Triggers and Market Response
Significantly, the red flags began when the token’s developers offloaded $15.7 million from the main wallet. In addition, the protocol to access this wallet shifted from 5 signatures to just 2. Hence, seasoned traders and whales became skeptical, leading to a sell-off frenzy.
The official Pepe Twitter account tried damage control by blaming a few insiders. However, influencers voiced skepticism and expressed regret over their investment.
Besides this debacle, Pepe’s Telegram account faced security issues, fueling the fire. The token’s value now stands at $0.00000068, marking an 85% nosedive from its all-time high. Notably, while competitors like Dogecoin and Shiba Inu maintained stability, $ PEPE’s value fell by 9% in comparison.
Experts have varied predictions on Pepe’s future trajectory. While some hint at a further decrease to the $0.0000004 mark, others predict a steep decline.
The emergence of a new challenger: Wall Street Memes (WSM)
As $PEPE faces turbulent waters, a new contender, Wall Street Memes (WSM), is on the horizon. The presale for WSM has garnered significant attention, raising $25 million. Consequently, the token boasts connections to the iconic Wall Street Bets Reddit community, famously known for the GameStop saga.
Additionally, its presale price of $0.337 has experts predicting a 10x growth post-launch. It might be the meme coin to watch, with Wall Street Memes set for its ICO in just a few days and a subsequent launch on top-tier exchanges. However, only time will tell if it will soar as $PEPE did or learn from its predecessor’s missteps.
In conclusion, the meme coin market continues to be a rollercoaster ride, with $PEPE facing challenges and Wall Street Memes (WSM) rising as a promising contender.
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