The spotlight in the crypto landscape currently shines on two starkly contrasting meme tokens, MASK and Wall Street Memes (WSM). Boasting a massive 600% and 5,000% rise within the last 24 hours and since its Uniswap listing, respectively, MASK is turning quite a few heads. With this considerable leap, it outpaces many mainstream cryptocurrencies in the contemporary market. However, a deeper dive into the profile of MASK suggests it may be little more than another break-and-bust meme coin, conceivably reaping the benefits of confusion with the much-anticipated MetaMask token.
A closer look at the MASK chart reveals the characteristic patterns of fleeting junk meme tokens. A flatlining price consequent to a sharp dive to zero volumes indicates its transient nature. The token stands on thin ice, as it were, with an almost non-existent market. Considering the volatile nature of such tokens, retail investors should brace for the probability of a precipitous fall, a characteristic rug pull typical of meme tokens lacking in solid community support.
Despite finding its genesis in the popular Mask character, MASK lacks a discernible online presence, hinting at its ephemeral existence. Investors being enticed by its explosive surge are advised to exercise caution. Instead, they should look towards new meme tokens backed by robust community followings.
Here’s where the WSM stands out. It’s an ERC-20 cryptocurrency that’s raised more than $14.2 million in presale. Unlike MASK, Wall Street Memes enjoys roots in the meme stocks movement, translating into its standout success. Its Twitter following of more than 252,000 fans consolidates its claims of authenticity and commitment towards ensuring recurring rallies and attracting new buyers.
WSM’s total maximum supply is capped at 2 million tokens. Thirtieth percent of its total is destined for community rewards, a shrewd strategy that incentivizes increased participation from investors and supporters, thus safeguarding WSM’s price for the long term. Those interested in joining the WSM presale can navigate to the official Wall Street Memes website, with 1 WSM available for $0.0316, set to touch $0.0337 by the presale’s end, with potential to surge even higher, driven by its expanding community.
While the glamorous world of crypto holds promise, it’s worth remembering it’s a high-risk asset class. This article is shared for informational purposes and should not be perceived as investment advice. Crypto investment can potentially lead to losses, including the principal amount.
Source: Cryptonews
