After a promising start to the month, high-profile meme coins are starting to slide as traders bank profits from the bullish surge.
Well-known meme coins like PEPE and FLOKI are struggling to establish solid bullish momentum, and the newly-birthed sensation – PEPE2.0 – is also down significantly over the past few days.
However, things aren’t all bad in the meme coin sector, with a handful of newly emerging projects gaining significant traction in July.
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Top Trending Memecoins Facing Bearish Pressure After Bullish Start to July – Time to Enter?
After a promising start to the month, traders are starting to bank some profits in top-flight memecoins as they face bearish pressure.
Over the past week, established and newly-trending meme coins are taking some considerable price dips, providing solid opportunities for those seeking entry positions in the sector.
PEPE experienced a rapid rise toward the end of June, surging by over 125% to hit $0.00000188. However, the meme coin has since reversed as it fell by over 16% this week, pushing the price to the current $0.0000015 level.
Similarly, legendary FLOKI witnessed an impressive jump as it surged by 45% from the mid-June lows to reach a high of $0.00003 at the start of the month. Since then, it has been on a downward trend, falling by over 10% this week.
In addition to these established memecoins, newly-birthed meme coins like Pepe 2.0 is also experiencing a rough week after hitting a new all-time high last week of $0.000000174.
The meme coin has since reversed over the past five days as it fell by a sharp 48% to meet the current $0.00000009 level.
What’s Causing the Recent Sell-Off in Large Memecoins?
The recent sell-off is largely attributed to stagnation in the cryptocurrency markets. Yesterday, we highlighted that the growth in the crypto market is starting to stall as BTC struggles to make ground above $30,000.
The top-ranked cryptocurrency is currently sitting in a range between $29,900 and $31,500 and must break this range to dictate the next direction for the industry.
Rather than bearish sentiment, it seems that traders are reducing their risk by taking some of their profit off the table as they look for more clarity within the market.
The good news is that the recent price dips provide suitable entry opportunities for those sitting on the sidelines looking to re-enter the market.
Which Meme Coins Could Pump Next?
Although Pepe, Floki Inu, and Pepe 2.0 are seeing some downward price pressure, there are still some fantastic opportunities in the market that have the potential to provide considerably higher gains.
In particular, several new meme coins are emerging in the market that are starting to make waves in the crypto sphere, with Wall Street Memes and Thug Life being two projects that are stealing headlines.
Wall Street Memes – Establishing Itself as the Next Meme Coin Sensation After Raising $14 Million
Wall Street Memes is quickly establishing itself as the next meme coin sensation in the sector after raising $14 million in its presale in just over a month.
Investors are quickly rushing to this meme coin as they’re intrigued by its long-term prospects due to its ability to attract a huge audience and gain the attention of billionaire investors like Elon Musk.
The project brings a twist to the robust WallStreetBets community by tokenizing the movement through humorous memes that make a mockery of the traditional financial system and the greedy capitalists on Wall Street.
Wall Street Memes is already gaining significant momentum after attracting over 1.1 million followers across its social media profiles.
The hilarious and truthful nature behind the posted memes makes Wall Street Memes the go-to destination for finance and trading-related memes, generating over 40 million monthly impressions on Twitter.
The social media profile became so popular that even Elon Musk took notice, often commenting on the hilarious memes posted;
The interactions from the Twitter CEO caused a wave of investment as investors speculated that the billionaire tech tycoon might have found a new meme coin project to champion alongside Dogecoin to his 140 million Twitter followers.
In addition to being the “king of memes,” investors are rushing to get positioned in the project due to its community-oriented nature.
The team has stated that they refuse to allocate any tokens for themselves in the presale. Instead, the entire 2 billion $WSM supply is dedicated to the community.
Half of the token supply is being sold in the presale, with the other half being earmarked for adding liquidity to exchanges and providing community rewards through airdrops.
Furthermore, the fact that the project has a huge community puts it in great standing to be listed on major tier-1 centralized exchanges after its presale.
This is because exchanges would benefit from the huge trading volume generated, with analysts expecting OKX or Binance to be the first to scramble to list the token.
Finally, the project has already onboarded high-profile influencers as ambassadors to the project.
Influencers like Crypto Jamie and Aaron CryptoNoob are lending their credibility and reach to the project, with huge YouTube analysts like CryptoWendy0 stating that $WSM could be at the forefront of the next crypto bull run;
Overall, Wall Street Memes has created the perfect mixture of internet culture, meme-based humor, and decentralized finance, making it an endearing project for investors.
The team has proven its capability in the meme coin sector by demonstrating its understanding of implementing principles behind how meme coins surge, attracting a flurry of investment.
With over two-thirds of the presale already sold, investors must act quickly to get positioned before the token makes its CEX debut in the coming weeks.
Thug Life Token – Raised $1 Million in Just Two Weeks With Unique Presale Proposal.
Another token experts believe will be pumping next in July is Thug Life, a project based around the timeless Thug Life movement popularized by hip-hop stars in the 80s.
Thug Life is making ripples in the market as it quickly approaches the $1 million fundraising milestone in under a fortnight from going live.
The project describes itself as the “ballers’ memecoin,” as it seeks to provide a second opportunity for those who were used as exit liquidity when trading in the Web3 degen market.
Investors are rushing to get involved in this token due to its unique presale proposal, which has everybody investing on a fair playing field.
Instead of multiple presale stages with higher prices, $THUG is being sold at a single price of $0.0007.
The team believes this will incentivize long-term holding and should help to build a united community to rally behind the token and push it into mainstream meme coin circles.
In addition, the team is adamant that the token should be community-driven, with the entire supply being reserved for the community, marketing, and rewards.
They’ve also integrated a hard cap of $2 million, meaning there’s not too much time left to get positioned in this presale before its expected end date this weekend.
The hard cap means that Thug Life will start at a low market cap of $2.97 million, providing room for tremendous upside potential.
For example, the token will only need to reach a market cap of $15 million to provide 5x returns for early adopters as soon as next week.
Furthermore, investors are rushing to get invested as they learn that the team is connected with the marketing guys that propelled Spongebob Token into mainstream circles, providing early adopters 100x returns.
The partnership will see a wide-scale marketing campaign following the presale to drive awareness of the token and push it to similar heights.
Lastly, the team has also promised that $200,000 worth of ETH will be guaranteed for the liquidity pool on launch, providing sufficient liquidity for traders to enter and exit the market.
The liquidity pool will also be locked by Team Finance following its launch, preventing the possibility of a rug-pull.
Overall, $THUG has created a unique source of hype through wide-scale marketing and a unique and fast presale, paving the path for 10x-20x as soon as next week.
Chimpzee – Causing Chatter in Crypto Through Charitable Contributions and Passive Income
The last token that’s making waves alongside Wall Street Memes and Thug Life is Chimpzee, a groundbreaking Web3 project that seeks to revolutionize how people contribute to charity.
The project aims to provide an ecosystem that provides users with a passive income while making significant financial contributions to charities that save animals and combat climate change.
Chimpzee recently crossed the $800,000 fundraising milestone as investors rush to be a part of the project using Web3 technology to impact the world positively.
The best part about the project is that it’s already making considerable financial contributions to charity, even while it’s still in its presale stages.
For example, upon hitting its first two milestones, the team donated over $15,000 to WILD Foundation to help save one of the world’s last herds of desert-adapted elephants. It also contributed to One Tree Planted to plant 20,000 in Guatemala.
Furthermore, they also contributed to helping the Yawanawa people to help protect the few thousand remaining black jaguars in Brazil.
The project provides a passive income to users in the ecosystem through three components; shop-to-earn, trade-to-earn, and play-to-earn.
Together, these three pillars help generate rewards for users while still positively contributing to charity.
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