Following a week of FUD and bearish sentiment, some cryptos have begun outperforming the market and displaying bullish momentum.
The past week has seen over $100 billion wiped from the crypto markets, with the main driver being the SEC suing Binance and Coinbase for selling unregistered securities.
Both exchanges have said they will fight the allegations, meaning lengthy legal battles could be on the horizon. While it remains to be seen who the victors are, the SEC’s threats bare a lot of weight, with their lawsuit against Ripple holding down the XRP price throughout the last bull market.
The cryptos included in the SEC’s recent lawsuits include BNB, BUSD, SOL, ADA, MATIC, ATOM, SAND, MANA, AXS, COTI, CHZ, FLOW, ICP, NEAR, VGX and NEXO.
Although many of these cryptos are down over 20% in the past week, several meme coins have shown signs of bullish momentum and have continued pumping. The cryptos that have performed well the last week could prove the best ones to buy looking ahead.
Wall Street Memes
Wall Street Memes is a new presale which has exploded this week, raising over $2 million in seven days despite the challenging market conditions. It’s now raised almost $7m in total.
$WSM is a meme coin created by a brand with over one million followers and notable crypto engagements from Elon Musk.
Moreover, the team has already launched a successful NFT project in 2021, Wall St Bulls. The project sold old in 32 minutes, netting over $2.5 million.
Wall Street Memes is a “degen play” since it is brand new, high-risk, and high-reward. However, newer risky coins often outperform the markets, particularly in times of volatility.
Previously, presale meme coins like Tamadoge exploded after launching on exchanges. From its presale stage one price, $TAMA soared 1,800% during the bear market.
While it remains to be seen if Wall Street Memes can replicate $TAMA’s success, its current discounted price, vast community and crypto track record gives it significant potential.
Investors can currently purchase $WSM for $0.0283 for a limited time. The price will incrementally increase each round, with the final round at $0.0337.
Another meme crypto to watch this week is AiDoge. After finishing its $14.9 presale recently, this is the last opportunity for investors to buy $Ai before it goes live on exchanges on 19 June.
As mentioned, presale cryptos can explode following their IEO as the price shifts from fixed to determined by supply and demand.
Potentially, AiDoge could provide short-term gains, but many analysts are praising the coin thanks to its long-term potential.
AiDoge is a generative AI-powered platform where users can create memes with text-based prompts. On top of that, the platform will offer staking, a meme feed wall and a voting mechanism where users can vote on their favourite memes.
The most popular memes will be pushed to the top of the public meme wall, and creators will be rewarded with $Ai tokens. Interestingly, this creates a “Meme2Earn” economy, where users are rewarded for creating memes with AI.
It is also important to note that the $Ai token will be at the heart of the ecosystem, with users requiring it to generate memes on the platform.
Currently, the only place to buy $Ai is on the AiDoge website for $0.0000336. Once it goes live on exchanges on 19 June, holders can also claim their tokens from the website.
After launching on 18 May, Snek got off to an explosive start, pumping 311% from $0.00037 to $0.001521 in less than two weeks. However, a swift correction followed the move, causing the price to revisit $0.00015.
Interestingly, despite major coins dipping this week, Snek has begun to recover, climbing 30% in the past seven days.
Snek is a Cardano-native token, which makes its recent price action even more surprising since ADA has plunged this week.
However, Snek may have pumped because it has launched a staking pool where users can earn SNEK and ADA as rewards. Moreover, the project features a burn dashboard on its website that shows 119,562,071 SNEK have been burnt so far.
The Snek team have also rallied the community recently with hints of a new announcement coming soon. Although it remains to be seen what the announcement is, there is a section on the Snek website for CEXs, which simply says, “Coming soon”.
Dejutaru Tsuka is a meme and DeFi coin based on a Japanese lore dragon known for its ferocity and strength. The project has a $36 million fully-diluted market cap and has begun surging today, up 9% in 24 hours.
In the past seven days, the project is up 2.77% and shows signs of reversing a longer-term downtrend.
If the coin continues to pump to $0.045, it could confirm a reversal and mean the TSUKA could be headed for new ATHs.
The project was issued as a fair launch, with 100% of the tokens circulating. Moreover, a recent interview between TSUKA holder 55Tuba55 and BitBoy crypto highlighted that the project is on its way to developing a community-driven DEX.
Currently, Dejitaru Tsuka is priced at $0.0036, down 86% from its September 2022 ATH of $0.2474.
Milady Meme Coin
The Milady Meme Coin token, LADYS, got off to a turbulent start after its launch. It is based on the controversial Miladys NFT collection launched in March 2021.
After launching at $0.0000000008365 on 8 May, LADYS reached an ATH of $0.00000002678 within three days. This equated to a whopping 3100% growth.
The Milady Meme Coin’s explosive price action was due to Elon Musk tweeting about it on 11 May.
Since its ATH, the LADYS crypto has plunged in price, currently down 96% at a price of $0.00000002647. However, the token has increased by 12% in the past seven days. Although it still carries a significant risk of further collapse, the recent bump in price could also signal that a reversal is on the horizon.
According to the roadmap, the Milady Meme Coin team will focus on developing the community, attaining CEX listings and offering merch and a “Milady Academy”.