The recent surge in ATM Bank (ATM) coin, a nascent viral meme token, which saw an astronomical rise of +2,500% has raised the curiosity of many, while sowing seeds of doubt amongst others. Fear of a potential ‘pump-and-dump’ looms in the horizon even as savvy investors are possibly shifting their focus to the biggest Centralized Exchange (CEX) listing predicted for the second half of 2023.
ATM, viewed by some as a clever offshoot of the impending Initial Coin Offering (ICO) of ATM Bank, is riding high on the promise of an Artificial Intelligence (AI) powered ‘cashgram ecosystem.’ It seems to have leveraged the original ATM’s marketing strategy to its advantage. In a mere 25 hours since its launch, ATM prices skyrocketed by a shocking +3,610%, now trading at a staggering $0.000143. Despite an early slowdown and a small uptick of +132% following the launch, ATM grabbed the spotlight when prices exploded by almost +1,000% at 3 a.m the very next morning.
This unexpected upswing stirred a rush of trading volume, a staggering $450k, causing a rally that drove the price to an unprecedented high of $0.00033. While the subsequent retracement caused a -57% slump, buyers remain unfazed, marking 71% of transactions in the past hour indicating sustained interest at the presented prices.
But as technical structure crumbles and fear encroaches, the question of whether we are witnessing the unfolding of a ‘rug-pull’ scam or simply a huge rally gains momentum.
In this time of uncertainty, another intriguing prospect is the meme coin $WSM by Wall Street Memes. This project, buoyed by over a million strong community, raked in more than $25m in seed funding, making it one of the most anticipated pre-sales this year. The community-centric approach along with an attractive price point of $0.0337 has attracted a lot of attention,resulting in the success of the pre-sale phase.
An anonymous crypto whale purchasing $WSM valued at $1m lent considerable encouragement to potential investors. Even though the identity of the whale remains a mystery, their financial endorsement of $WSM cannot be overlooked.
With 30% of its token supply allocated to community rewards, a part towards liquidity, and the remaining up for pre-sale, $WSM signifies a democratic project for everyone. Its unique staking mechanism, offering an enticing 282% APY, nudges long term holding, making this token an intriguing prospect. With such momentum, the upcoming CEX launch could very well catapult $WSM on a moon-shot trajectory.
Source: Cryptonews
