Pepe meme coin has experienced a significant decrease in value, dropping over 60% from its all-time high on May 5th to around $0.00000143. Social engagement for Pepe has also decreased by 31.5% in the past week. While a decrease in interest is expected after a parabolic run like what Pepe experienced, the question remains whether investors will ever regain confidence in the coin. Crypto trader CryptoMichNL predicts a further 40% sell-off from its current price, with the final price target for Pepe at $0.00000085.
However, the launch of Wall Street Memes’ WSM token presale has already raised over $100,000 in its first 24 hours. Wall Street Memes is a community-based meme coin with no private sale or team allocation. The presale will offer 50% of the 2 billion supply, with the remaining tokens split between exchange liquidity (20%) and community rewards (30%). Additionally, the presale campaign includes a $50,000 airdrop to help promote the sale.
Wall Street Memes has already gained significant popularity due to its social media account with over 500,000 followers across its channels. The developers previously launched the NFT collection Wall St Bulls, which sold out in just 32 minutes in 2021 and has seen over 1,800 ETH in trading volume. The hype is building around their Wall Street Bulls Ordinals collection, which has a supply of just 420 to mint and is expected to sell out quickly.
Pepe meme coin has achieved notoriety in the crypto space, with 290k Twitter followers, 116k holders, and a $600 million market cap. However, the launch of Wall Street Memes’ WSM token presale and its already significant popularity may steal Pepe’s glory in the coming days and weeks.
The future remains uncertain for Pepe, with its value continuing to decrease despite its popularity. Conversely, Wall Street Memes’ WSM token presale has already gained significant traction, with analysts predicting at least 10x gains after its IEO. The battle between meme coins continues, and only time will tell which will come out on top.