The cryptocurrency market has seen the rapid rise of another meme token, Zuck Coin (ZUCK). Surging by over 130% in the last 24 hours, ZUCK’s meteoric jump boasts a formidable 30,000% gain since debuting on Uniswap a few short days ago. This surge is somewhat puzzling, given its recent inception and the fact that the majority of meme coins take a nosedive following the initial growth spurt. Given this backdrop, investors need to be strategic and cautious when stepping into the ZUCK market. Betting on meme coins could be a high-risk roll of the digital dice, with some investors potentially choosing safer ventures.
Many rave that an alternative meme coin, Wall Street Memes (WSM), might be the sleeper hit of the cryptocurrency sector. Already, it has amassed over $13 million in presale, hinting that the exchange listing might be an event to keep an eye on.
Whilst ZUCK’s trading volume has dwindled, an air of anticipation surrounds the coin’s major holders. It appears they are biding time for an influx of retail investors, casting shadows of a ‘get-in-and-get-out’ strategy. This coupled with a desolate Twitter account that’s bereft of substantial interaction further raises eyebrows, echoing the digital ghost-town vibes seen with other recent tokens like KSI Coin and Joe Rogan Coin.
However, not all meme coins are crafted with quick gains in mind. WSM, an ERC-20 token, for instance, was born out of true online communities, standing as the possible torchbearer for sustained rallies in the crypto space. Capitalizing on the online meme stocks movement, it has found a solid foundation to support its quick rise in funds – a far cry from other token counterparts.
WSM has successfully courted a hefty online following, greatly contributing to its price stability. Promising community rewards further incentivizes participation, making it a sought-after meme coin. If predictions are to be believed, the current WSM price may appear derisory once it’s listed on exchanges.
However, it’s crucial to remember that while meme coins make for an exciting ride in the crypto universe, they are a high-risk venture. Player discretion is advised, as risks could lead to complete capital loss. This is merely informative, and not an endorsement or suggestion for investments. The real question here is, will meme coins such as ZUCK and WSM add value to their respective communities, or will they dwindle into the annals of digital history? Only time will tell.
Source: Cryptonews
