In a world dominated by Decentralized Exchange (DEX) tokens, a newcomer is creating waves. GUISE, a DEX token that caught the attention of the whole crypto world with a whopping +30,000% pump during its launch, has surged to claim the ‘Hot #3’ spot on leading aggregator DEXtools.
This jaw-dropping performance was powered by a deluge of trading volume, which saw GUISE hit an all-time high of $0.375 within just two hours from a mere start at $0.08. The feat, as remarkable as it may sound, does not spell eternal profitability. A subsequent 40% retracement in price triggered around 10 AM prompts a healthy degree of skepticism about the sustainability of these massive price jumps.
However, it’s more than just GUISE that’s sparking interest among investors. A rising trend sees traders rotating profits from short-term DEX token pumps into longer-term investments such as meme coins. One such meme coin project turning heads is Wall Street Memes (WSM).
WSM has emerged from nowhere to raise $25 million in presale funding, making it the biggest meme coin presale of 2023. Mirroring its namesake’s anti-bank sentiment, this viral token aims to harness the power of community and popular sentiment to reshape our understanding of digital value.
What makes WSM so attractive is not only its homage to the anti-bank movement but also its democratic pricing. Offered at a favorable $0.0337, WSM has generated a surge in investment, partily due to the built-in +30% initial listing for presale buyers.
Notably, one mysterious crypto whale invested a staggering $1 million in WSM in the presale. The massive investment is seen as a significant vote of confidence in the project’s potential return on investment.
WSM’s appeal also lies with its strong community-focused ethos, which has attracted a million-strong following on social media. This explosive growth could incentivize major exchange listings such as Gate.Io, which could catapult WSM on an even more astonishing trajectory.
The success of Wall Street Memes and the advent of newcomers such as GUISE clearly demonstrate a shift in the crypto markets. As DEX tokens continue to make headlines, it’ll be interesting to see how longer-term meme coin investments like WSM fare in this rapidly-evolving landscape.
Disclaimer: Crypto is a high-risk asset class. The information in this article is for informational purposes only and should not be taken as investment advice. Capital invested in crypto could be lost completely.
Source: Cryptonews
