In an unpredictable flourish of market forces, WOJAK, a spin-off meme coin, experienced a whopping +5,000% surge within just 8 hours of its DEX launch. The original WOJAK token had impressed the crypto world with its +1,500% gains during the April meme season, but its DEX-launched sibling, dubbed ‘Wojak on BASE’, far surpassed these figures.
Initially launched at midday on July 31, WOJAK began with a more sedate 700% pump in the first five hours, peaking at $0.0625. However, heightened trader activity and an increase in trading volume to $84k soon resulted in an additional +418% increase over the next three hours. Early adopters saw gigantic gains with investments surging from $0.0730 to an astronomical $0.051225.
Despite the ranks of a reported 171 holders swelling with anticipation, fears began to rise with only $12k of liquidity available. Resultantly, a market panic triggered a dump, inciting a -65% fall in prices. What followed was a brief exit rally succeeded by an enormous drop that left the coin’s top buyers with -72.5% losses.
Yet, as one coin’s lifecycle ends, another’s begins. Many shrewd investors are turning to the burgeoning Wall Street Memes (WSM), a unique meme coin that is making waves in the market. With an impressive following in excess of +1m, this token has already amassed almost $20m in seed funding.
Drawing inspiration from Wall Street Bet’s successful NFT project, $WSM has a clear goal – to convert powerful community sentiment into a tangible form and, perhaps more ambitiously, change the way we perceive digital value. Tokenizing the anti-bank movement, its democratic price point of $0.0328 has attracted a surge of investors.
30% of the token supply will be dedicated to community rewards, with a further 20% allocated towards liquidity. The remaining 50% is reserved for presale, further democratizing the project and contributing to its social media success. As an explosive community of over +1m followers grows, major CEX listings like Gate.Io could propel the $WSM token to incredible heights.
A word of caution, however: as exciting as these tales of rapid market gains and explosive growth may seem, the story of WOJAK’s short-lived glory serves as a sobering reminder. The cryptocurrency world is a high-risk realm. Any investment, no matter how promising, carries the risk of total capital loss. Tread with care.
Source: Cryptonews
