The crypto market: In the last few days there has been a lot of movement in the meme coin market, with several emerging projects causing havoc, such as 4Chan.
For example, we see that the 4Chan currency continues to lose value after peaking on 21 June, while other coins such as 420Chan and Bitcoin are gaining value.
We have also seen the emergence of platforms such as Wall Street Memes and yPredict, which can help traders keep up to date with the latest trends and investment opportunities in the meme coin sector.
Summary
4Chan crypto price in focus: plunge of more than 75%
The meme coin frenzy has recently returned to the forefront, but the 4Chan coin has failed to maintain the initial momentum seen in early June.
In fact, after a meteoric rise of 1,500% in the space of two weeks, the token has fallen sharply as early investors look to cash in their gains.
Since 21 June, the price of 4Chan has fallen by more than 75 percent, with many investors believing that the token could be worth zero.
Unfortunately for 4Chan’s supporters, the token’s heyday appears to be over, a situation that does not apply to 420Chan and Bitcoin.
Indeed, CoinMarketCap data shows that 420Chan has traded over $3 million in the past few hours, contributing to a massive 117% increase in the token’s market cap.
On Tuesday, the token also saw a remarkable rise, with early investors seeing gains of 587%.
Although the price of 420Chan has retreated from Tuesday’s peak, token holders are hopeful that this temporary dip is only temporary and that the price will recover and resume its upward trend.
Wall Street Memes: What it is and how it works
Wall Street Memes (WSM) is a new meme coin inspired by the WallStreetBets subreddit, best known for its involvement in the 2021 GameStop short squeeze.
Although there is no direct link to the subreddit, the Wall Street Memes project includes funny market-themed memes, which has allowed it to build a large community of over 1.1 million “degens” (fans).
The massive community support has helped the Wall Street Memes team achieve success in the past with the launch of the Wall St Bulls NFT, a 10,000 piece collection that sold out in just 32 minutes.
Now, with the launch of the WSM token, the Wall Street Memes team aims to give back to the community and allow token holders to benefit from the growth of the same community.
According to the project’s white paper, Wall Street Memes also plans to launch an exclusive “gated community” and work with high-profile influencers, both initiatives aimed at increasing the value of WSM.
Although WSM has not yet been officially listed on centralised crypto exchanges (CEXs), investors can still purchase the token during the ongoing pre-sale phase, which has already raised nearly $11 million.
Currently, WSM tokens are available for as little as $0.0304, a discount from the exchange’s planned listing price.
What are the best trending meme coins right now?
Despite some of the problems mentioned above, 4Chan, the meme coin that uses the Ethereum blockchain, remains one of the trending coins.
The native 4Chan token was launched on 3 May and saw a 7,300% increase in a short period of time, followed by a correction of course. Moreover, the platform has burned through all its liquidity and its contract is tax-free.
On the other hand, we see that PEPE’s performance is erratic, but often outperforms more famous meme coins such as Dogecoin and Shiba Inu.
In fact, in recent days, this new meme coin seems to be back in the spotlight, perhaps thanks to the positive trend in the crypto market and the increased interest from traditional financial institutions.
According to onchain data, there are currently around 119,602 unique Pepe addresses, indicating an increase in the number of PEPE coin holders since the beginning of the month.
Nevertheless, the revolutionary AI-X blockchain has a value of approximately $0.0000000115 after recent increases. The network aims to improve the speed, scalability and security of transactions.
Finally, the Apecoin token, APE, has risen 15% in the last week, but is still coming off a 50% slump. Its performance in the second quarter of this year was disastrous, but it appears to be recovering.
However, significant uncertainties remain and it is uncertain how long this recovery will last.
