The world of meme coins is ever-changing and unpredictable, with new tokens emerging and gaining popularity seemingly overnight. One recent example of this phenomenon is the surge of the Trump (MAGA) meme coin, which has experienced a staggering +20,000% increase in value on-chain. This surge coincides with the high-profile indictment case of former President Donald Trump in the State of Georgia, where he surrendered to authorities and was processed, complete with a now infamous mug-shot on August 24.
Despite his legal troubles, the Trump campaign has found a way to capitalize on the situation by selling merchandise featuring his mug-shot. In just a few days, they managed to net over $9.4 million in sales, causing a frenzy around the MAGA token. This buying frenzy propelled the market cap of MAGA from $250,000 to $5 million, much to the delight of decentralized exchange (DEX) traders.
After reaching an all-time high of $0.15 on August 27, MAGA experienced a significant -80% retracement. However, a strong display on August 29 led to a well-defended double-bottomed consolidation, igniting the second rally. As a result, MAGA has surged +195% from its consolidation lows, providing relief to its holders and attracting significant buy pressure.
With over $513,000 in trading volume over the last 24 hours and nearly 1,500 dedicated holders, MAGA has emerged as a breakout DEX token. While some traders may be enticed by its potential, more astute investors are gravitating towards a safer play in the meme coin market.
Wall Street Memes (WSM) has garnered substantial attention as one of the most successful meme coin presales of 2023. The project raised more than $25 million from early backers, thanks to the support of its 1 million+ strong community. With an upcoming centralized exchange (CEX) launch in less than 30 days, Wall Street Memes is poised to make substantial gains.
Unlike many other meme coin projects, Wall Street Memes has managed to generate tremendous interest and funding even before hitting the DEX markets. This feat is almost unprecedented in the world of meme coins and has attracted investors looking for the biggest coin CEX launch of Q3 2023.
One of the primary reasons behind the hype surrounding Wall Street Memes is its democratic price point of just $0.0337. Thousands of early backers have flocked to this token, given its extensive presale success and the potential for lucrative gains. Notably, presale investors are set to receive an additional +30% when the token lists initially, which further incentivizes long-term holding.
The excitement surrounding Wall Street Memes is exemplified by a significant investment from a crypto whale who poured $1 million into the WSM presale in early August. The mystery whale address executed five transactions amounting to 460 ETH, valued at $840,000, in just six minutes. Additionally, the same wallet had made another 93 ETH in transactions two weeks earlier, bringing the total investment to $1 million.
This substantial investment serves as a vote of confidence in Wall Street Memes and its potential for a high return on investment. The purchases made by the crypto whale can be verified on Etherscan, further adding to the legitimacy of the project.
The project’s growth and popularity can also be attributed to its commitment to a democratic approach. Wall Street Memes allocates 30% of its token supply to community rewards, with an additional 20% dedicated to liquidity. The remaining 50% is available in the presale, making it a project for the masses. This egalitarian approach has helped the project amass an impressive +1 million followers on social media, further fueling its explosive growth.
The overwhelming community support and growth make it likely that Wall Street Memes will attract major CEX listings, such as Gate.io, which could lead to an incredible surge in the value of the WSM token. Additionally, the novel staking mechanism offered by Wall Street Memes, boasting an impressive 282% APY, provides further incentive for long-term holding.
With a successful track record stemming from the Wall Street Bets NFT collection, Wall Street Memes continues to thrive based on the original historic moment that propelled the project into the limelight. Investors are encouraged to connect with Wall Street Memes on Twitter and Telegram to stay informed and not miss out on the potential gains of this skyrocketing meme token.
The recent rise of both MAGA and Wall Street Memes exemplifies the unpredictable nature of the meme coin market. While MAGA has experienced a surge driven by the Trump campaign’s merchandising efforts, Wall Street Memes has captured the attention of investors with its democratic approach, a strong community, and the promise of substantial gains. As with any investment, caution should be exercised, and thorough research should be conducted before making any financial decisions in the volatile world of meme coins.