The crypto market is back in the grips of strong bearish forces, with Bitcoin barely holding on to the $29,000 price level. Major altcoins such as Solana, XRP and Worldcoin are down by as much as 8% in the daily time frame.
However, while the global crypto market cap has plunged by 1% over the past day, meme coins have surged by 7% over the same period.
Shiba Inu is among those leading the rally, being up 3% in 24 hours and over 11% over the last week, in light of the upcoming Shibarium Launch.
Several new meme coins are also showing bullish growth. Shiba Inu-inspired Shibie Coin is ahaving an impressive presale as it has surpassed $120K in less than a week, while Wall Street Memes has already raised $21 million as it nears the end of its presale.
Shiba Inu Pumps Despite Bearish Crypto Outlook
The crypto market is struggling to display any substantial upside in light of the dicey macroeconomic outlook and lack of a bullish narrative. However, Shiba Inu has emerged as the biggest winner in the crypto market, trading at $0.000095 after rising almost 12% in seven days.
SHIB received a major boost from the heavily-anticipated Shibarium launch as it is expected to go live in August. Shibarium is a Layer-2 scaling solution, developed to reduce bottlenecks on the Shiba Inu blockchain and boost its scalability.
Shiba Inu is looking to be a top player in the DeFi race, with Shibarium serving as a cost-efficient platform for building decentralised applications. Lead developer Shytoshi Kusama recently announced that the Shiba Inu ecosystem will soo incorporate Digital Identity Verifications, a move that could give a major boost to its status as a DeFi contender.
Shiba Inu’s governance token Bone ShibaSwap is also seeing a major bullish growth after Kusama announced that the entire token supply will be minted in preparation for the Shibarium launch. Most of the Bone tokens have been allocated to the validators responsible for maintaining and operating the Shibarium chain.
$BONE has surged 3.5% over the past 24 hours, bringing its total gains to 22% over the past week.
Dogecoin hasn’t seen the same gains, being down almost 1% in a day. However, the top meme coin continues to enjoy Elon Musk’s support as investors are expecting the token to get a major boost from Musk’s X platform.
Musk also made it extremely clear that X will not launch its own cryptocurrency, which many experts believe is bullish for $DOGE.
TradingView, a technical analysis platform, gives a Buy signal to the token in the daily time frame, which improves to a Strong Buy when considering the moving average indicators.
Which Meme Coins Can Explode Next?
Shiba Inu’s bull rally proves that meme coins are currently one of the most profitable assets, especially in light of the struggling wider crypto market. Wall Street Memes and Shibie Coin are two other tokens that investors have high hopes for.
Shiba Inu Spin-Off Shibie Coin Explodes Past $125K in Quickfire Presale That Ends In Less Than 4 Days
The newly-launched Shibie Coin combines two of the trendiest global niches – the ongoing Barbie mania and the established value of Shiba Inu. Predictably, investors are rushing to its presale as the token has already raised over $125K in just 4 days.
Just as the latest Barbie movie is breaking all records at the box office, $SHIBIE could display similar magic in the market. After all, meme coin projects paying homage to famous pop-culture characters are becoming quite the craze, with many of them displaying 1000% rallies.
However, the presale has a hard cap of just $999,000 and will end in less than 4 days. Therefore, investors have limited opportunity to get in early and maximize their profits.
The project has prioritised providing a smooth trading experience to investors by reserving 20% of the entire token supply for decentralised exchange liquidity and another 10% for future centralised exchange listings.
To ensure that the token takes the maximum advantage of pitch-high Barbie fever, 5% of the tokens have also been allocated towards its marketing strategy.
The token is priced at just $0.000167, but popular crypto YouTuber Jacob Bury believes that it can show a 10x surge after launch. Investors can acquire $SHIBIE by swapping ETH, BNB or USDT in exchange for it.
Wall Street Memes Token Raises $21 Million In Presale – Could it be the Next 100x Meme Coin?
The Wall Street Memes token has become one of the hottest commodities in the meme coin market, surging past $21.1 Million in a stellar presale performance.
$WSM’s strong start is not surprising, considering the global brand value and the community strength of the Wall Street Memes group. Born out of the historic GameStop short-squeeze, it has become the trendiest online trading community, boasting a million-strong internet army.
Similar to Dogecoin, the Wall Street Memes token may also receive support from Elon Musk as the world’s richest man has had frequent interactions with its Twitter account.
Its social media pages farm over 40 million impressions monthly which can help the token reach its targeted market capitalization of $1 Billion.
The team behind the project also has proven expertise in the Web3 space, selling out its popular Wall St Bulls NFT collection in just 32 minutes and netting $2.5 million in profits.
Furthermore, the token has adopted community-driven tokenomics, making the entire $WSM supply available to the public with no cuts for the team. With 50% of the tokens available in the presale itself and another 30% reserved for community rewards, investors have ample opportunity to get in early and maximise their profits.
Interested investors can purchase the token through bank cards or by swapping ETH, BNB or USDT tokens.
Visit Wall Street Memes Presale