The meme coin sector is starting to experience a period of consolidation as established tokens fail to break significant resistance and newly launched clones fail to develop momentum.
Pepe ($PEPE), the meme coin sensation that swept up headlines in early May after providing 30,000% returns, continues to trade sideways after failing to break the July 2023 resistance level over the weekend – leading many investors to wonder if it will ever return to its previous all-time high anytime soon.
However, while established meme coins fail to gain traction, a handful of newly emerging projects are starting to turn heads as they continue to climb while the heavyweights stall.
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$PEPE Fails To Climb Over July Resistance and Slides 17%
After what looked to be a promising weekend, $PEPE is now down 17% following its failed attempt to break resistance at $0.00000188, causing it to slide to the current $0.00000154 level.
The cryptocurrency has been trapped in a range between $0.00000188 and $0.0000014 for the past 24 days as the long consolidation period continues to stall any growth.
Traders were hopeful that a breakout would occur over the weekend after $PEPE suddenly surged by 25% last Thursday and Friday. However, the buyers were unable to overcome the July resistance at the upper boundary of the range;
The resistance is significant as it’s provided by a bearish .382 Fib Retracement level, measured from the all-time high to the low set in June.
A breakout above this level would signal a bullish run ahead for $PEPE, but the recent rejection means traders might have to wait for more momentum before that happens.
On the other side, a break beneath the lower boundary of the range at $0.0000014 would signal an extended downturn for $PEPE, likely returning the price to the June lows around $0.0000008.
Why’s $PEPE Failing to Gain New Momentum?
With $PEPE continuing its sideways trends, traders are starting to wonder why it’s failing to gain any new momentum.
One of the main reasons is that heavyweight meme coins like $DOGE and $SHIB are starting to see their own momentum, and traders are likely leaving their $PEPE positions to ride the forming bull trend.
Over the past 30 days, $DOGE managed to surge by 13%, and $SHIB is up by 17% as they form new upswings;
Although the sentiment is still largely positive in the ecosystem, traders are also starting to realize that the enormous gains that $PEPE once provided are now gone.
This is because the market cap for $PEPE currently stands at $650 million, meaning that it would need to hit a $1.4 billion market cap to provide just a 100% return for traders entering the market now.
As a result, traders are looking elsewhere for new opportunities that can provide significantly higher returns than $PEPE can provide at this late stage.
Which Tokens Are Gaining Traction While $PEPE Continues to Slide?
Although $PEPE and its handful of clones are continuing through a challenging period of consolidation, a selection of tokens still continues to climb during the sideways price action.
In particular, yPredict ($YPRED) – a newly emerging token with unprecedented utility – is starting to turn heads, and Wall Street Memes ($WSM) – a meme coin touted to be the next sensation on the market – recently raised over $15 million.
yPredict Provides Traders With Consistent Profits Through Professional Financial Prediction Models
yPredict is turning heads in the crypto space due to its unique approach of integrating its token into its groundbreaking trading insights and analytics platform, designed to help traders become more profitable.
Integrating the $YPRED token into the ecosystem ensures incredible long-term utility, providing huge scope for growth as the platform gains adoption.
yPredict is a next-generation AI-based trading research and analysis platform that provides traders with state-of-art financial prediction models built with alternate data to help traders make wise trading decisions.
The platform has a series of products that require users to spend or hold $YPRED tokens for access.
For example, the yPredict Analytics section provides traders with an edge in the financial markets through a new breed of trading tools entirely powered by AI.
The product can automatically detect 100+ chart patterns and provide alerts to traders with confidence scores regarding imminent breakouts.
It can also conduct sentiment, indicator, and transaction analysis to alert traders to newly forming trends.
The product requires users to hold $YPRED tokens to access – increasing its utility.
yPredict’s flagship feature is most certainly the yPredict Marketplace, which allows AI developers to use their skills in finance by listing their own price prediction models – creating a results-as-a-service subscription-based economy.
Traders can browse the highest-performing models and subscribe to them on a monthly basis using $YPRED tokens.
Of the revenue generated, 70% is sent to the developer listing the mode, with 10% going to token holders and 20% being reinjected into the ecosystem.
In addition, the ecosystem also includes:
- A trading terminal.
- A free-to-use prediction service.
- An SEO backlink estimator.
- An AI-powered content solution editor.
- Lucrative staking rewards.
Overall, yPredict has created a groundbreaking platform that will help traders and provide unprecedented utility for investors for long-term growth.
The presale for $YPRED has already raised $3 million and is quickly approaching its $4.5 million fundraising goal, so you’ll need to act quickly to get positioned in this at presale prices.
Wall Street Memes Crosses Magical $15 Million Milestone as Investors Flock to New Meme Coin Sensation.
Another project turning heads is Wall Street Memes, which recently crossed the magical $15 million milestone as investors flock to the token touted as the next meme coin sensation on the market.
Traders are quickly rushing to get positioned in $WSM due to the project’s ability to attract a huge audience, its hilarious memes, and the attention it’s getting from Elon Musk himself!
The entire idea behind this project is to make a mockery of the traditional financial system through a series of memes on social media.
The memes are comedic but share an underlying truth about the corruption occurring on Wall Street regularly.
The memes have become so popular that the Wall Street Memes social media is the go-to destination for finance and trading-related memes, which generate over 40 million monthly impressions.
Elon Musk has even been drawn to the memes after directly commenting on their truthful meanings on several occasions;
The attention from Elon Musk sparked a wave of speculation as investors wondered if the tech mogul and Twitter CEO had found a new meme coin to support alongside his beloved Dogecoin.
In addition, investors are confident in the team’s capabilities and commitment to the project after they refuse to allocate any tokens for themselves.
Instead, the entire supply will be community-orientated, with half sold in the presale and half reserved for community rewards and adding liquidity to major exchanges.
The fact that the cult-like community has grown to over 1.1 million followers puts the project in a position to be listed on major tier-1 exchanges as soon as it launches – causing further excitement amongst investors.
Overall, Wall Street Memes has struck the perfect balance between hype and FOMO, turning $WSM into the next 100x meme coin sensation on the market.
Investors looking to get positioned will benefit from lower prices if they invest sooner rather than later.
Mr.Hankey Coin Bringing a Breath of Fresh Air to Meme Coins With Incredible Hype
The final project that continues to climb is Mr. Hankey Coin ($HANKEY), which recently hit exchanges last week and is swiftly gaining momentum.
Mr. Hankey Coin intends to combine hilarity with high returns – helping the meme coin market step away from the plethora of $PEPE clones that have appeared over the past few weeks.
The project takes inspiration from the legendary Mr. Hankey character from South Park, which first appeared in 1997 and quickly became one of its most beloved characters.
Described as the number one shit coin, $HANKEY brings an entirely new meaning to dirty money by ditching the glam and glitter and heading straight into the toilet.
The presale for the token generated immense hype, selling out its entire allocation in just 10 hours – showing the huge interest in the project.
The token launched on major decentralized exchanges last Friday and quickly surged by over 300% to almost reach a $3.5 million market cap.
From there, $HANKEY started to slide over the weekend as early investors began to take profit – a regular occurrence in the meme coin sector for newly launched projects.
Nevertheless, after the weak hands were shaken out, the project started to revive today after surging by over 110%;
The revival was largely sparked by the team stating that they intend to burn a large amount of $HANKEY in the coming days, reducing the supply and making the remaining tokens scarcer;
🔥Who wants to see Mr Hankey burn some 💩?🔥 pic.twitter.com/1vrohv1yO0— Mr Hankey (@MrHankeythecoin) July 16, 2023
As a result, traders have started to rush back to get positioned in $HANKEY as they expect huge returns over the coming days.
The project is backed by an expert marketing team that wants to turn $HANKEY into the best-performing token of 2023.
Rumors are circulating that they’re the same team that helped $SPONGE provide over 100x gains for early investors, and the recent revival certainly shows that they know what they’re doing.
Overall, Mr. Hankey Coin is providing a breath of fresh air in the meme coin sector plagued with Pepe-clones and “2.0/3.0” remixes of previous projects.
With a wide-scale marketing campaign planned this week, we can expect huge gains from $HANKEY.
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