After a brief period of downward price action, it seems that the meme coin sector is starting to thrive again as the overall market cap for the industry re-approaches the $16 billion level.
The surge in market cap is helped by heavyweight tokens starting to see small upticks in prices this week but is also further propelled by the plethora of Pepe-clones causing havoc in the industry.
In addition, with the meme coin sector buzzing, investors are quickly rushing to meme coin presale projects that are backed by solid teams as investors seek to get positioned at the lowest prices possible before the tokens start trending on DexTools.
In particular, traders are quickly rushing to emerging meme coins like Wall Street Memes ($WSM), Evil Pepe ($EVILPEPE), and Chimpzee ($CHMPZ) to get ahead of the herd and invest during the ground stages.
Let’s take another dive into the meme coin sector and update ourselves on what’s been happening.
What you'll learn 👉
$PEPE Momentum Stalls and Continues to Trade Inside Tight Range.
Despite the increasing market cap in the meme coin sector, it seems that legendary meme coin sensation $PEPE is struggling to establish momentum as it continues to trade sideways inside its range.
The meme coin giant has been trading inside a range between the support at $0.00000147 and resistance at $0.00000187 for the past 27-days;
$PEPE attempted to break the upper boundary of the range last week but failed to overcome the resistance at $0.00000187, provided by a bearish .382 Fib Retracement measured from the all-time high to the lows set in June.
Traders are patiently waiting for a breakout of this range, with the direction of the breakout dictating the next trend for the market.
In the event of an upside break, resistance lies at $0.000002, $0.0000022 (bearish .5 Fib), $0.00000255 (bearish .618 Fib), and $0.000003.
On the other side, support lies at $0.00000147, $0.00000125 (.618 Fib), $0.000001, and $0.0000008 (.786 Fib & June lows).
According to data from CoinGecko, the market cap for Pepe currently sits at $660 million, indicating that holders are still happy to keep the token in their portfolios during the consolidation.
Furthermore, the daily trading volume for the token remains above $60 million, showing that traders are still active within the market – which is a promising sign that a positive breakout is possible.
Wall Street Memes Quickly Approaching $16 Million Milestone.
Wall Street Memes is another meme coin that’s solidifying its position in the market after it quickly approaches the $16 million fundraising milestone – just 54 days after going live.
The project is becoming one of the most sought-after meme coins in the sector after generating a cult-like community of over 1.1 million followers.
In addition, its entirely community-driven approach, exceptional meme-based humor, and the attention received from billionaires like Elon Musk are driving a wave of investment into this project.
The entire idea behind this project is to make a mockery of the greedy capitalists on Wall Street while providing an avenue for traders to engage in continued speculation through $WSM.
The project releases hilarious memes on its social media profiles, making it the internet’s go-to destination for trading and finance-related memes.
The memes have become so popular that they’re generating over 40 million monthly impressions and have attracted the attention of Elon Musk, who has commented on the memes on several occasions;
The interest from Elon Musk sparked a wave of speculation if the tech mogul and Twitter CEO had found a new meme coin to champion alongside Dogecoin.
In addition, investors are confident in the team’s long-term commitment to the project after they refused to allocate any $WSM for themselves.
Instead, the entire 2 million $WSM supply is dedicated to the community, with half sold in the presale and the other half reserved for community rewards and adding liquidity to exchanges.
Analysts believe its huge following puts it in a guaranteed position to be listed on major tier-1 exchanges as soon as it launches, as the exchanges would look to take advantage of the huge trading volume from the enormous 1.1 million followers.
Overall, Wall Street Memes has created the perfect fusion of internet culture, meme-based humor, and decentralized finance to strike the ideal balance between hype and FOMO to set the foundation for $WSM to be the next meme coin sensation on the market.
With over two-thirds of the presale supply bought, investors will need to be quick to get positioned in this project at presale prices before it hits tier-1 exchanges.
Evil Pepe Making Waves as Next Pepe-Clone Sensation.
A new Pepe clone recently hit the market and is already causing waves as it’s touted to follow the footsteps of popular Pepe clones like $PEPE2.0 and $POP.
The presale for Evil Pepe ($EVILPEPE) recently went live, allowing potential degens to embrace their dark side and buy the evil side of Pepe the Frog.
$EVILPEPE is backed by a heavyweight team that has provided 100x returns for presale investors through projects like $SPONGE.
The same marketing team is attempting to mirror the price performance of other Pepe derivatives and is expected to hit the market with a bang after its presale.
Evil Pepe is the voice in your head dictating your shitcoin trading decisions. When you know you shouldn’t be investing, Evil Pepe whispers tales of riches ahead – causing you to ape into the next shitcoin you know will be a rug-pull.
The project represents the naughty side of the meme coin game, and we all need an evil side to succeed in this space.
Evil Pepe aims to raise a small $2 million hard cap to turn the project into the next $100 million market cap Pepe-clone.
Despite being evil, the presale for $EVILPEPE is selling 90% of the token supply, with the remaining 10% supply reserved to be locked in the liquidity pool for a month to provide a smooth trading environment and prevent a potential rug-pull.
The presale for #EvilPepe is live on https://t.co/tSzIy5cOXV— Evil Pepe (@evilpepe_token) July 18, 2023
The launch of this project is set to be a wickedly fun ride.. Nobody knows how to lure people in quite like Pepe, and #EvilPepe is king!
You know you want in.. Listen to your inner #EvilPepe 🐸#PRESALE #live #ERC20 pic.twitter.com/kF5PfeRSS7
The best part about $EVILPEPE is that it’s entirely community-driven, with no tokens allocated to the team. Therefore, investors won’t need to worry about large price drops from whales looking to cash in, a common problem in the Pepe-clone space.
Overall, Evil Pepe wants to rebel against the status quo of the Pepe-clone sector by combining the chaotic energy of meme culture with the allure of financial speculation.
With such a small hard cap in its presale, investors must quickly get positioned as the team expects it to sell out in a few days.
You can purchase $EVILPEPE for $0.000033 before it goes live and starts to trade on DexTools and explodes.
Chimpzee Reaches $900K Fundraising Milestone.
Chimpzee is another meme coin hitting the headlines after the project continues to make considerable donations to charity – even before its presale reaches its conclusion.
The presale for $CHMPZ is quickly approaching the $900,000 fundraising milestone as investors rush to participate in the project that provides a passive income while helping save wildlife and combat climate change.
The project wants to use Web3 technology and meme coin hype to revolutionize how people contribute to charity while providing three passive income avenues.
Investors can earn a passive income through the shop-to-earn, trade-to-earn, and play-to-earn components of the ecosystem – all of which still generate funds to donate to noteworthy organizations helping save animals and the environment.
For example, users can earn CHMPZ tokens by spending in the Chimp Shop, earning a portion of the trading revenue generated on the NFT marketplace, and earning tokens through reaching milestones in its groundbreaking play-to-earn game.
The best part about the Chimpzee ecosystem is that the team has proven its dedication to helping the world by making significant donations before its fundraising has been completed.
For example, they’ve already donated over $15,000 to WILD Foundation to help save the last herd of desert-adapted elephants.
Most recently, they made another $20,000 donation to WILD Foundation to help protect the remaining few black jaguars in South America;
Hey #ChimpzeeArmy! 🐵🌟— Official Chimpzee Project (@RealChimpzee) July 14, 2023
🎉We have just made a $20,000 donation to the @wildfoundation to support their remarkable efforts in saving and protecting the majestic black jaguar!🐆❤️
Join our #Presale and help us achieve our next donation!✨🌍https://t.co/Geog3EVuMC#EcoCrypto
Overall, Chimpanzee is a groundbreaking project that is shaking up the meme coin sector through a unique and wholesome ecosystem providing passive income rewards and charitable contributions.
Memecoin Market Nears $16 Billion Market Cap.
Overall, the meme coin sector has experienced a positive week, with the entire market cap approaching the $16 billion level again;
The increase in market cap is primarily helped by heavyweight tokens like $DOGE and $SHIB starting to rebound this week.
$DOGE is up by a total of 6.5% as it starts to make another attempt to break the two-month resistance around $0.075. A break above this level would open the doors for a surge back toward $0.1 and beyond;
In addition, $SHIB is also up by 3.5% this week after breaking above a 3-month-old descending trend line.
Next, The token needs to break resistance at $0.00000850 (bearish .382 Fib Retracement) to start moving back toward the April 2023 highs around $0.0000118.
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