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After a significant surge, the Pepe meme coin has dropped over 60% from its all-time highs (ATH) on May 5, now trading at approximately $0.00000143.
Interest in PEPE has waned in recent weeks following its price increase after Binance announced its listing in the “innovation zone.”
As reported by Lunar Crush, social engagement for Pepe has decreased by 31.5% in the last week.
Additionally, in relation to its price, social engagement has consistently remained lower than its price since reaching its ATH on May 5.
A decline in interest is anticipated after a parabolic rise like the one Pepe experienced, but will investors regain their trust in the coin, or is it likely to decline further?
A recent technical analysis by crypto trader CryptoMichNL on Twitter reviewed Pepe’s recent price movements and indicated that “every block resistance is an opportunity to short.”
The projected price target for Pepe, according to the analysis, was $0.00000085 – representing a further 40% decline from its current value.
Nonetheless, Pepe has gained recognition in the crypto sector, with 290k Twitter followers, 116k holders, and a market capitalization of $600 million.
Thus, it is probable that the price will eventually recover – however, a newly launched meme coin may overshadow it in the upcoming days and weeks.
Wall Street Memes Launches with $100k Raised in 24 Hours
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Wall Street Memes has recently initiated its WSM token presale and has already accumulated over $100,000 within the first 24 hours of going live.
Another meme coin that could rapidly gain widespread popularity, Wall Street Memes is associated with a well-known social media account that has more than 500,000 followers across its platforms and enjoys significant recognition within the community.
Previously, the developers introduced the NFT collection Wall St Bulls to the market, which sold out in just 32 minutes upon its launch in 2021.
The project remains robust and has recorded over 1,800 ETH in trading volume – equivalent to more than $3.3 million at current prices.
Excitement is also quickly building around their Wall Street Bulls Ordinals collection, which has a limited supply of just 420 to mint, available through a whitelist on Discord and expected to be claimed swiftly.
The project already boasts a highly engaged community that has been active since the rise of the Wall Street Bets Reddit, which made waves in the financial world during the exponential surge of GameStop.
Wall Street Memes is a community-driven meme coin with no private sale or team allocation – 50% of the 2 billion supply will be accessible to everyone in the presale, while the remaining tokens will be divided between exchange liquidity (20%) and community rewards (30%).
Additionally, there is a $50,000 airdrop underway to support the presale campaign.
WSM Tokens are currently priced at $0.025 in stage 1 of the presale and will increase to $0.0337 in the final stage. However, analysts anticipate that WSM could achieve at least 10x gains following its IEO.
Visit Wall Street Memes Presale
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