The crypto market yesterday saw the extraordinary surge of BluiCoin (BLUI) with an unparalleled 10,016% rise before profit drawing brought its final closing to $0.000000001864, a retreat from its earlier intraday high of $0.000000003590. However, BLUI’s voyage to success has met some rough waters with an additional drop of over 43% today, returning to a modest $0.000000001083 trading price. Analysis of 15-minute technical indicators present a somewhat precarious scene. Counterbalancing its current bearish trend, the trading volume and market capitalization data does cast a positive light. With a 24-hour volume recording of $5.06 million and an overall market cap at $1.07 million, BLUI seemed to draw significant trading interest.
BLUI navigates these turbulent waters with the potential for more to come. The selling pressure is palpable, suggesting a possible further slide. Yet, any shift in this trend could mark a prime buying opportunity, notably if BLUI can breach the resistance at the cross of the 50 EMA and the horizontal resistance zone. A big wave for BLUI, it saw a massive pump, now the coin is just trying to find stable ground beneath it.
On another note, Wall Street Memes, the cryptocurrency creation from Reddit’s meme stocks and DIY investing ethos, is gaining momentum against the current, amassing over $25 million during its pre-sale period ahead its September 27 exchange listing. Despite lacking the wider crypto utility, meme coins have ridden on high returns in past cryptocurrency market upturns, with Wall Street Memes following the footsteps of Dogecoin and Shiba Inu in 2021, and Pepe in 2023. Today, the coin has a dedicated following exceeding a million on various social platforms, bolstered with its successful NFT collections and snappy investment-related memes. Its popularity is a testament to a cap supply of 2 billion, with half of it allotted for presale buyers, a third for community rewards and the remaining for liquidity once it hits exchanges.
While caution and a series of steps need to be taken to buy Wall Street Memes tokens, such as using trusted wallets like MetaMask or Trust Wallet, their engaging community of followers is what the project’s biggest asset may be. These meme coin prices are purely speculative, but if Wall Street Memes can leverage on its blooming community, it may generate real value beyond the hype for its token. As always, consider that crypto is a high-risk asset class and this article intends to inform, not advise investment.
Source: Cryptonews
