Yesterday, the crypto market experienced a downturn as bitcoin (BTC) submerged under $30,000 and ether (ETH) dipped below $1,850. The gloomy atmosphere was spurred by the private US payroll organization, the ADP, surpassing expectations with their estimate for the number of jobs added to the US economy in June—nearly half a million—compared to the anticipated 226,000. Coupled with promising US ISM Service PMI data, the inflation of US yields turned the market bearish.
Amid this environment, attention has been momentarily diverted from numerical juggernauts to the antics of small-cap meme coin markets. Crypto enthusiasts are tirelessly seeking the next meme coin that may yield 100x returns, akin to Pepe or Shiba Inu.
In this new league, Pepe 2.0 (PEPE2.0), a reincarnation offering a second chance at the Pepe rally, touched unprecedented highs of approximately $0.0000002. Since Sunday, it recorded a meteoric rise of over 1000%, its lows formerly resting at $0.000000015.
However, Pepe 2.0 is not the sole rising star in the meme token constellation. Floki 2.0, launched on Monday, also achieved new highs above $0.00000001, albeit retracting to under $0.000000005. Despite its relative infancy, it flaunts a market cap of nearly $2 million, affirming its allure for meme coin traders who seek potential ‘gems’.
Simultaneously, Shib 2.0 (SHIB2.0), a fresh iteration of the Shiba Inu 2.0 coin, has sprung into the limelight. Although its novelty and derivative nature may question its endurance, its early performance exhibits promise.
While present-day meme coin traders chase the next booming coin, a similar momentum is brewing in the presale niche. Prognostics from industry insiders suggest a bright future for Wall Street Memes ($WSM), expanding its footprint in the crypto landscape with its new token presale. Balancing a staggering social community of degens – over 1 million strong – with a potential listing on premier crypto exchanges like Binance, the WSM ecosystem appears prompt to explode.
Similarly, Thug Life Token (THUG), a new meme coin themed around the enduring Thug Life movement, is winning eyes – its presale haul already hitting $757,000. With its non-conformist theme and enticing presale markdowns, $THUG’s upside seems poised for a titanic surge.
While yesterday’s market drop may be disheartening, the rise of these newcomers signifies the untapped potential yet to be discovered. However, it is essential to note, crypto volatility mandates a cautious approach. The highs of today could nose-dive tomorrow, and vice versa, making it an area fraught with risk.
Source: Cryptonews
