In this article we highlight the trends in the popular memcoins and the predictions associated with it.
The year 2023 has been extremely successful for top-tier cryptocurrencies. To date, Bitcoin (BTC) has increased by an astounding 80%. Over the same time span, Ether (ETH) has increased 58%. But for meme currencies, the situation has been more complicated. Despite the great success of the major currencies, some have performed exceptionally well while others have suffered, signaling that risk appetite is still cautious and that animal spirits have not yet fully returned to the crypto world.
With the presale of its brand-new $WSM token, Wall Street Memes, one of the internet’s most popular retail investing groups, has lately increased its importance in the cryptocurrency realm. The community first gained notoriety during the 2021 meme stock frenzy. Given the scale of the Wall Street Memes community and the popularity of the $WSM presale, which has collected $14.5 million in a little more than one month, it is not unexpected. More than 100k people follow its two other Instagram accounts, wallstgonewild and wallstbullsnft, in addition to the 523k hyper-engaged community members on its wallstbets Instagram account. Analysts believe that Wall Street Memes’ 1 million-person social group almost ensures that the $WSM token will be listed on top-tier cryptocurrency exchanges like Binance. It is reasonable to predict that airdrops to holders will play a significant role in the ecosystem given that 30% of the token supply is being kept back for community benefits. The first $WSM airdrop is open right now, in fact. Wall Street Memes is already expected to achieve great things when it lists on exchanges, and you may participate in this.
Thug Life Token, a brand-new meme currency project that just over a week ago debuted, has already been able to earn more than $1.58 million through the presale of its $THUG token. Given the novel perspective it offers the meme currency market, several industry analysts have predicted that $THUG would be a huge success. Instead than being based on outdated dog memes or passing social media fads, like meme coins developed in reaction to tweets from Elon Musk or Andrew Tate, $THUG is based on real-world issues. Instead, $THUG is based on the enduring Thug Life movement, which was made popular by hip-hop icons like Snoop Dogg in the 1980s. The initiative is anticipated to attract additional degens as news of $THUG spreads. This is because Thug Life Token is ripe to become the following 100x meme coin. The presale for the Thug Life Token only values the currency at a relatively modest $2.94 million with a fully diluted market cap at the presale price of $0.0007 and a total maximum supply of 4.2 billion. That is far lower than the majority of comparable presale ventures, and the low presale market value offers tremendous potential for rapid growth. When it comes to becoming involved in the project early, meme coin degens have no time to waste. This is due to the fact that the $THUG presale will stop when the $2.058 million threshold is reached or when the three-day countdown expires, whichever occurs first. After then, the project’s airdrop and community rewards campaign will be the sole ways to obtain $THUG tokens, or you may purchase them at a possibly higher price on significant decentralized exchanges (DEXs).
The outlook for the biggest meme coin on the crypto market is still negative, despite recent attempts by blue chip cryptocurrencies like bitcoin to reach new annual highs. Dogecoin has continued to trade below the majority of its significant moving averages and the downward trend from the record highs set in 2021. The speculation that Elon Musk may somehow include Dogecoin into a future Twitter payment system has mostly died down. Before the end of 2023, Dogecoin may encounter substantial resistance in the $0.075 region and revert to its recent annual lows near $0.05.
On Solana, meme currencies also exist, with Bonk currently holding the top spot. Many people in the Solana community hold warm sentiments towards Bonk. The meme coin was introduced at a time when the Solana ecosystem was actually in trouble, with the SOL price falling and the DeFi ecosystem seeing significant withdrawals as Solana was labeled a “Sam coin” following the failure of Sam Bankman-Fried’s fraudulent cryptocurrency exchange FTX. When it was debuted around Christmas in 2022, its success helped give the ailing ecology new life and restore some confidence. However, Bonk’s time in the spotlight is gone, and at its current price of $0.00000037, it has fallen by more than 90% from its all-time high of $0.000004. At-loss traders will likely keep selling their holdings in an effort to recoup at least a portion of their initial investment, and Bonk will likely continue to decline through the end of 2023.
