The price of meme coin sensation Pepe has slipped 56.8.8% in the last thirty days and 24.1% in the last fourteen days.
The crypto market downturn set off by the multiple SEC lawsuits against Binance and Coinbase has exacerbated the wound for Pepe. It has slipped 14.5% down on the weekly chart and pushed back to the 88th position on CoinMarketCap.
Does Pepe have what it takes to weather the new storm? Or, is it on the path to obscurity with the market turning to more promising alternatives?
Here is an analysis.
Pepe has a steep journey ahead
One of the key mistakes that investors can make in the crypto market is to follow the herd. If there is a herd behind the token, it is likely taking them down a hill. It’s always best to look for emerging tokens that can afford to bring big returns. New or underrated tokens that have solid community support and a large room for growth are your best bets.
With a significantly high market cap of $421M, it is too optimistic to predict a 5X explosion for Pepe now. And investors who are hoping for 10X returns from the meme coin are kidding themselves.
Pepe 1-month Price Overview, 8 June 2023, CoinMarketCap
Pepe has fulfilled its role in the crypto market, which has been mostly lukewarm after an upturn in January, by sparking new interest in meme coins and giving four-digit returns to early supporters. It also went on to prove that cryptocurrencies are capable of kindling explosions without any particular utility.
The self-claimed useless token’s rapid rise to a $1.6B market cap over the period of a few days was an eye-opener. Pepe may not be able to replicate its past performance unless it sheds most of its value. But it has brought meme coins to the forefront again.
Even if the Pepe hype is dying, meme coin investors can bag big returns from new projects with creative visions. Here are three new meme coins that have been capturing the attention of investors over the last few days. Since they are not yet live on crypto exchanges, you can still procure them for presale prices. In other words, these meme coins can afford to bring 50X to 100X returns for early investors.
1. Wall Street Memes ($WSM) – Meme Coin with a Global Foothold
Wall Street Memes tops our list of the most promising cryptocurrencies to watch now for three reasons.
- The project is backed by a 1-million community with a global foothold. Wall Street Memes has proven its community strength even before stepping into the meme coin market.
Wall Street Memes token is built on the wild popularity of the Wall Street Memes movement. It harnesses its large community strength and the viral nature of meme culture to give potential ‘generational wealth’ to early investors.
Introducing $WSM – yep, we’ve gone and done it.
The community token that’s flipping the Wall Street Memes game upside down! 🐂We have 50% of the #Token supply up for grabs in the #Presale and 30% set aside for rewarding our community.🔥
Let’s make some serious waves together,… pic.twitter.com/fH2TMGmglZ
— Wall Street Memes (@wallstmemes) May 27, 2023
The influence of the community is evident from the fast progress of the $WSM presale, which has broken past the $5M milestone at the time of writing. At this pace, it will sell out ahead of schedule and the initial exchange listings will go live earlier. They are scheduled for Q4 now. It won’t be long before $WSM hits the presale hard cap of $30,577,000.
As one of the fastest token fundraisers of 2023, Wall Street Memes tokens are highly sought-after. Investors are betting big on them. Analysts predict the token to book anywhere from 30X-50X for presale investors in the first few days of its initial exchange launches. There are more factors that substantiate the predictions.
- Most meme coins are fleeting crypto sensations with no long-term value or relevance. $WSM aims to be an exception. Since the token doesn’t have any planned utility, it nurtures and sustains its value through an extensive community reward system. 30% of the total token supply is set aside for this purpose. For example, a $50,000 airdrop is now live as part of driving traffic to the ongoing $WSM presale.
More importantly, the Wall Street Meme community’s existence is independent of the crypto or meme coin market. It has been live since 2019 and its followers mostly include traders and investors.
An asset solely built on community power may sound like a bizarre goal to investors who are new to the market. But if the explosive performance of meme coins over the last few years has taught us anything, it is to never underestimate the power of cryptocurrencies. To give you a better perspective, Dogecoin still maintains a market cap of $10B. Shiba Inu follows with a $5B market cap. DOGE has a lifetime ROI of 11935.30%. SHIB boasts an even bigger number at 488322.92%.
But can a new meme coin like $WSM match the strength of DOGE and SHIB?
If Pepe has brought up to 4000% returns to investors within a month of going live, $WSM can definitely do better. With a thriving global community, it is next in line to explode.
- Odd as it is, Elon Musk’s nods can kindle volatile pumps in the meme coin market. $WSM is uniquely positioned to benefit from them as the tech mogul has engaged with the community in the past. And he is likely to do so again, given the quirky nature of the memes that often take digs at the double standards of centralized financial institutions and lawmakers.
2. AiDoge ($AI) – Meme Coin Packed with AI utilities
The next meme coin to add to your watchlist now is AiDoge. Having raised $14.9M from a public presale that sold out within a few days of going live, $AI is awaiting an explosive bull run this quarter. The token’s grand exchange launch scheduled for 19 June is predicted to kindle a new wave of meme coin mania.
But you can still buy the meme coin and cash in on its bull run. The website offers the option to purchase $AI at the listing price before its initial exchange launch.
AiDoge’s strength lies in its unique combination of AI, memes, and meme coins in a first-of-its-kind meme-to-earn environment.
Too complicated?
It’s not, actually. AiDoge is a fun meme coin project that allows you to convert text prompts into engaging memes. This is made possible by the underlying AI tool that taps into massive data sets of memes and crypto news to create time-relevant memes.
Given that memes have defined Web 2.0 and social media, the seemingly silly use case has a large potential market. Moreover, memes that take inspiration from popular culture lay the foundation for large online communities. Although memes have a universal audience, not everyone has the creativity or time to create one. And that underscores the large growth potential of $AI tokens. It taps into the virality of memes to go viral.
$AI tokens have two key functions in the ecosystem.
- To allow purchases of credits on the platform
- To give access to various AI-powered meme generation tools
Owing to its large potential user base, which also overlaps with a significant share of meme coin fans, AiDoge can book high returns this year.
3. Ecoterra – Green Crypto with Recycle-to-Earn Uses
Although not exactly a meme coin, Ecoterra is a penny crypto that can go on a wild bull run this year. Due to its unique recycle-to-earn app, it has a large scope for mass adoption. The tool allows you to earn Ecoterra tokens in exchange for each item you recycle.
As you can see, the platform acknowledges the importance of a reward system in making sustainable actions mainstream. And for the same reason, it can emerge to become one of the widely used tools against rapidly growing climate change.
Ecoterra is also home to a carbon credit marketplace and a recycled materials marketplace. Another key factor that’s fueling the ongoing Ecoterra presale is its potential brand and celebrity endorsements/integrations.