Overnight, the unassuming meme coin titled SAFU experienced an unprecedented 30,000% surge in value, all within a mere six-hour trading period, creating an adrenaline rush within DEX traders’ circles. The cryptic acronym, a testament to Changpeng Zhao‘s famed assurance that “funds are SAFU,” saw an injection of $180k in trading volume that fueled its impressive ascent from a modest launch price of $0.0164323. Inevitably, with over 500 transactions, the coin’s value leaped to a staggering $0.001101.
In a striking showcase of feast to famine, SAFU has fallen into a major retracement pattern less than a blink of an eye later, displaying the volatile and ephemeral nature of short-lived meme coins. This downturn, within a flash of the initial surge, left early investors with fat pockets, but later hoarders in a scramble.
Still, the saga of meme coins continues unabated, with investors maintaining an undying interest in these speculative assets. Positioned at the intersection of humor and high-stakes trading, tokens like DOGE and SHIB have demonstrated the potential to maintain resilient through market fluctuations.
One new contender gaining popularity is Wall Street Memes, a meme coin that embraces the ethos of lampooning Wall Street. Originating from a pushback against Wall Street in 2021, Wall Street Memes’ token, $WSM, amassed an impressive $15 million during its presale.
What sets $WSM apart from the rest? The Wall Street Memes team excels in creating fast asset launch sellouts, backed by a committed community of a million members and conducting a successful presale that broke its own record. Floating at a moderate price of $0.0316, the value is expected to ascend post-presale, alluding to the immense potential of the coin.
The Wall Street Memes experience appears to bring something novel to meme-coin enthusiasts, which embraces transparency and eschews private deals or allocations for team members. This approach resonates with its origins and empowers the community with total control over the $WSM supply.
Acting as a beacon of rebellion, $WSM differentiates itself from pump-and-dumps and reaffirms the power of community within meme coin trading. Given its community strength and online engagement, $WSM is swiftly rising up the ranks, giving its competitors, Pepe, Shiba Inu, and Dogecoin, a run for their money.
In the end, the rise of meme coins underlines the fierce competition and quicksilver nature of the crypto market. Hence, it’s wise to exercise due diligence and research before embarking on a speculative investment journey with these fame-fleeting coins.
Source: Cryptonews
