The decentralized exchange markets had a momentous week with the Shiba V Pepe token ($SHEPE) taking a whopping +5,000% moonshot. With the SHEPE token market cap voicing a thunderous $10m roar, the coin’s thrashing, double-bottomed consolidation suggests fireworks may continue to ignite, despite its recent localised retracement.
Novel narratives are birthing a new breed of trading bots and X-themed tokens, flourishing with monstrous pumps and capturing market attention. Within this fresco, we discover SHEPE, a light-hearted meme coin colourfully straddling the tribalism that grips the Shiba Inu and Pepe Coin communities.
SHEPE’s parabolic jump to a market price of $0.071619 (representing a 24-hour change of +61%) was initially driven by an army of more than 3.13k bag-holders. The initial rally saw the price surge across August 30 and 31, pulling up to a local high of $0.0713 before stumbling with early-backers cashing in. However, after a consolidation period on September 2, the price once again erupted to a new all-time high on September 4.
With a sensational double-legged rally fuelled by a whopping $3.54m in volume, SHEPE stands in a strong technical position. A potential bounce from support at $0.0715 could see a target of $0.0725 (a possible +37.8% move). Yet, downside risk could see it tumble back down to lower support around $0.0712 (a potential -28.32% tumble). This skews the risk: reward ratio to 1.34, suggesting a potentially attractive entry point. However, while SHEPE bag-holders are sat tight, smart money has already begun rotating profits into the Wall Street Memes presale.
Wall Street Memes has caught the eye of the crypto world as one of the biggest meme coin presales of 2023 already securing more than $25m from early backers. Homage to the anti-bank sentiment of Wall Street Bets, $WSM is looking to tokenize the movement and redefine our perception of digital value. Its price point of just $0.0337 and the built-in +30% for presale investors promises potential lucrative gains. In a notable instance, a crypto whale invested $1 million in the $WSM presale in early August.
With 30% of the token supply allocated to community rewards, an additional 20% going towards liquidity, and 50% up for grabs in the presale, $WSM maintains a democratic project ethos. Its community of more than 1m followers is expected to stimulate growth at the upcoming CEX launch in 23 days. Furthermore, with Wall Street Meme’s unique staking mechanism boasting an astonishing 282% APY, the coin is destined to explode.
Hence, while cryptocurrencies remain high-risk assets, the promising upside of SHEPE and $WSM are undeniably tempting. However, tread softly, as the capital invested can be completely lost.
Source: Cryptonews
