Meme coins have become somewhat of a leader in the cryptocurrency industry as groundbreaking protocols take a backseat to meme-based culture in the bear market.
One of the primary reasons is the fact that meme coins have the potential to explode, even during bear markets – something that utility tokens have struggled to achieve in downtrends.
As a result, investors are increasingly searching for the next meme coin to invest in that could provide exponential short-term profits.
In particular, Evil Pepe and Wall Street Memes are turning heads as they’re expected to be the next meme coins that could provide outstanding returns in the short term while the overall market sees a downtrend.
Let’s look at them both and see why investors are rushing to become early adopters in these newly emerging projects.
What you'll learn 👉
Meme Coins Bucking Downtrend as BTC Slides Beneath $30,000
As Bitcoin slides beneath the $30,000 level and heads lower, the meme coin market seems to be heading in the other direction.
As the world’s number-one-ranked cryptocurrency starts to drag down the altcoin sector, meme coins are emerging as a safe haven to park some cash and hedge portfolios.
Typically, when BTC starts to slide, the entire market follows suit as their prices are effectively tied to the king of cryptocurrency.
However, during the recent consolidation break in BTC, meme coins have started to trend in the opposite direction as investors begin to pile in to protect their portfolios.
For example, Dogecoin, often considered the king of meme coins, has surged by over 16% this week as BTC breaks beneath its 30-days of sideways price action;
With Dogecoin lifting the entire meme coin sector, traders are hunting for the next gem that can provide them with exponential short-term profits.
In particular, two meme coins are gaining traction as investors start to position themselves on the ground floor of these projects, hoping to ride the pump higher in the coming weeks.
These two projects are Evil Pepe and Wall Street Memes, both of which are becoming highly popular in recent days.
Evil Pepe Embraces the Dark Side of the Meme Coin Game
Evil Pepe is one of the meme coins turning heads as it seeks to end the clone of Pepes plaguing the market.
The project wants to be the last Pepe derivative in the sector by being the only successful Pepe clone to replicate its predecessor’s success through a well-planned marketing campaign.
Evil Pepe allows traders to embrace their dark side by buying $EVILPEPE. It’s attempting to hit the market with a bang due to the increasing hype and FOMO surrounding the project.
The project is centered around the alter-ego of Pepe, known as Evil Pepe. He represents the mischievous side of the meme coin sector by making degens do bad things, such as springing into shitcoins that they know are going to the rug.
Evil Pepe is the voice inside your head that drives your shitcoin trading decisions, making you think that you’ll get rich from buying that next DexTools trending token with $50k liquidity is about to 100x.
Even if the odds are stacked against you, Evil Pepe always shows up to defy conventional wisdom and make you ape.
Now, Evil Pepe wants to release his own project by creating a community-driven Pepe derivative that combines the chaotic energy of meme culture with the allure of financial speculation.
The dark alter-ego of Pepe wants to create an unapologetic and audacious community through the universal experience of giving into FOMO.
Evil Pepe is already up to his usual tricks, convincing you not to wait for the DEX launch and buy $EVILPEPE at the presale to get in at the lowest price.
Despite his wicked nature, Evil Pepe loathes scammers who rug-pull their community.
Therefore, Evil Pepe is creating an utterly community-driven token by selling 90% of the entire $EVILPEPE token supply in the presale at a single price point of $0.000033.
In addition, the remaining 10% will be locked by Team Finance in the liquidity pool to create an ideal trading environment where investors know that Evil Pepe cannot rug on everybody – despite his temptations to do so.
Finally, Evil Pepe has limited his presale by enforcing a $2 million hard cap. As a result, $EVILPEPE will launch with a low market cap, providing room for exponential growth ahead and 10x returns.
Overall, with a solid marketing campaign behind him, Evil Pepe is on a mission to hit $100 million and put an end to the Pepe derivative market.
The presale has already sold almost half of the supply. However, with just seven days to go in the presale, potential investors must act quickly to get positioned at the ground level and ride the surge.
Alternatively, investors can purchase $EVILPEPE on exchanges when it starts to trade on DexTools but will pay considerably higher prices.
Wall Street Memes Raises $17.7 Million as FOMO Kicks In
Another meme coin that investors are rushing to is Wall Street Memes. This project recently crossed the $17.7 fundraising milestone, making it one of the most sought-after presale projects in 2023.
The FOMO is officially kicking in for $WSM as investors look to get positioned at the lowest possible prices during its fundraising campaign.
Wall Street Memes has attracted a mammoth level of fundraising due to its vast community-driven culture, meme-based humor, and the attention it generates from influencers and billionaires like Elon Musk.
The entire idea behind the project is to make a mockery out of the traditional financial system through a series of memes posted on social media.
The memes have become so popular that they generate over 40 million monthly impressions, making them the go-to venue for online finance and trading-related memes.
The hilarity of the memes has also allowed Wall Street Memes to amass a huge cult-like community of over 1.1 million followers, who are all supporting the project to push it into becoming the next meme coin sensation on the market.
The colossal following also guarantees $WSM a major tier-1 exchange listing as exchanges like OKX and Binance would benefit from its enormous trading volume.
The memes have also spiked the attention of Twitter CEO Elon Musk, who has been seen commenting on the memes several times;
The interactions from the tech mogul sparked a wave of investment as traders speculated that the billionaire found another token to tout alongside Dogecoin – maybe integrating it as a meme tipping token on the new X platform (Twitter 2.0).
Finally, investors are intrigued by the project’s long-term prospects after the team announced they aren’t allocating any tokens for themselves in the presale.
Instead, they want the entire project to be community driven. Therefore half of the 2 billion $WSM supply is sold in the presale, and the other half is reserved for community rewards and providing liquidity to tier-1 exchanges.
This is one of the primary reasons why prominent influencers believe $WSM will be at the forefront of the next bull market;
Overall, the internet culture, meme-based humor, and decentralized finance have created the perfect mixture to cultivate hype and FOMO for $WSM, making it the next meme coin to hit mainstream audiences after its presale concludes.
They both bring new identities to the table, adding a new layer of hype and FOMO to look forward to in the market.
The growing popularity of these meme coins shows that the market is evolving, with plenty of opportunities for crypto traders to make significant profits.
They also provide great signals that the market isn’t dead, even if BTC is seeing a downtrend at the moment.
While we wait for the BTC recovery, take a look into these presales and get positioned before they hit exchanges and start to trend.
Disclaimer: We advise readers to do their own research before interacting with any featured companies. The information provided is not financial or legal advice. Neither CaptainAltcoin nor any third party recommends buying or selling any financial products. Investing in cryptoassets is high-risk; consider the potential for loss. CaptainAltcoin is not liable for any damages or losses from using or relying on this content.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com