As the overall cryptocurrency market demonstrates a slight increase of 0.5% in the past 24 hours, the price of Ethereum (ETH) takes a minor dip, settling at $1,954. Despite this minor hiccup, Ethereum is up by 4% and 13% for the week and fortnight respectively. The past year’s impressive 83% increase in its value had investors optimistic for Ethereum to break the $2,000 mark, a feat not achieved since April. With the market’s inherent unpredictability and the current turbulence, this milestone might take a back seat. Instead, projects such as Wall Street Memes (WSM) pre-sale hitting a whopping $12.5 million are set to make headlines.
Ethereum’s market indicators continue to show resilience, hinting at ongoing rally potential. Key indicators such as an upward-pointing relative strength index (RSI) suggest possible incoming buying pressure. This anticipation of further gains is balanced with the realistic notion of the occasional market correction. Another promising sign for Ethereum is the steady support level increase over the past weeks. This suggests that any significant drop because of its current rally to wind down is unlikely.
Conversely, due the long-lasting high indicators, the chance for Ethereum to have a minor dip before smashing the $2,000 limit can’t be disregarded entirely. Therefore, prospective investors may find it prudent to hold off purchasing Ethereum until market corrections have been completed.
In the meantime, other market prospects like altcoins in pre-sales may present attractive opportunities. For instance, the meme coin Wall Street Memes, which has raked in more than $12.4 million since its token offering kick-off. A large chunk of this success is attributed to its strong aligning with the memes stocks movements seen in the 2021 GameStop and AMC rallies/short squeezes.
WSM’s total supply will consist of 2 billion tokens, with a substantial 80% of this being committed to the presale and community rewards. As such, it ensures continued community support and longer-term price support. WSM currently holds a strong community of over 256,000 Twitter followers. It strongly contrasts other new tokens that had an abrupt end after the initial boom, often attributed to the lack of supportive community.
The token is up for grabs at $0.031 at its website and purchasable through ETH, USDT and traditional fiat currency. Resulting in a possible rally upon listing on exchanges in coming weeks, potentially exceeding Ethereum’s performance and other established cryptocurrencies.
A caveat while considering this choice: Cryptocurrency investments are high-risk. This article shares information only and should not be misconstrued as investment advice. Remember, your capital is at risk.
Source: Cryptonews
