As the on-chain markets persistently offer sensational price actions, the case of EmotiCoin (EMOTI) outshines others. Last night, EMOTI experienced an astronomical increase of over +1,000,000%, causing quite a market hysteria. What is causing this frenzy? The promise of a Reverse Split protocol – an innovative deflationary mechanism that has a pulse on supply manipulation – reducing the total supply by 20% in every 4-hour period over two weeks, ultimately leading to a scarcity in supply. As demand increases, the price, a function of the market cap divided by circulation supply, seems to be soaring in response.
At the time of this article, EmotiCoin’s market price has hit $0.00001846, recording a staggering 24-hour growth of 445.7%. After Emoticon’s quiet launch on September 1, it managed a commendable but comparably smaller growth of +3,150% over 9 days.
However, the tide started to turn on September 9, when DEX traders began to correlate project growth with reverse split tokenomics, resulting in a 236% price rise in just 24 hours. The project kept gaining traction and experienced a 400% growth over the next 48 hours, incentivizing traders to quickly secure positions before the price skyrocketed even further.
While DEX traders relish their gains from this tokenomic phenomena, other traders are astutely directing their attention towards an upcoming CEX listing for the Wall Street Memes, which has been tagged as the biggest meme coin launch of 2023.
Continuing this trend, Wall Street Memes have become one of the most anticipated meme coin presales in 2023 over the past few months. With the seed funding rounds, the project already accumulated over $25m from early backers. Aunticipated to create substantial gains upon its upcoming CEX launch in just 15 days, $WSM is already surrounded by high expectations.
Moreover, early backers are intrigued by its democratic price point at just $0.0337, given that the WSM presale has already risen with $25 million raised. This, coupled with a built-in bonus of +30% for presale investors at the initial listing, suggests investors could reap significant gains from $WSM.
Echoing this excitement, a crypto whale invested a whopping $1 million in the Wall Street Memes presale in early August – perhaps it was the one and only Elon Musk?
In line with the original anarchic philosophy of the meme coin, $WSM has allocated 30% of the token supply to community rewards. Coupled with Wall Street Meme’s novel staking mechanism, which offers a whopping 282% APY, this token appears to be on the path of an impressive run. A successful launch of Wall Street Memes on CEX in just over three weeks could prompt an unprecedented moon-shot for the $WSM token, intensifying trader enthusiasm around the globe.
Source: Cryptonews
