How to Get in Early on the New Trending Meme Coin as Crypto Whales Shift Away from Dogecoin: Avoid Dogecoin as It Heads Towards Zero
The Dogecoin price is experiencing a small increase of 1.11% today, trading at $0.06546. However, this uptick is likely temporary as momentum remains in favor of the bears. Last week, Dogecoin failed to break out above $0.06907, indicating a struggle for the cryptocurrency to regain momentum. Several indicators point to a bearish trend, including resistance at the 20-day EMA ($0.06556), 50-day EMA ($0.06879), and 100-day EMA ($0.07262). The RSI is still below 50, suggesting a bearish market. The MACD histogram has decreased, implying that bearish momentum may continue.
While Dogecoin faces challenges, another meme coin called $WSM is gaining attention and momentum. Wall Street Memes, a retail investing community, has raised over $10.8 million in a presale of the $WSM token. The fundraising effort has averaged around $330,000 per day. With over one million social media followers and interactions from figures like Elon Musk and Gary Vee, $WSM is likely to receive significant exposure. Analysts predict that the token will be listed on top-tier crypto exchanges like Binance, potentially driving up its value and achieving a market cap of over $1 billion. The Wall Street Memes movement originated from the rebellion against Wall Street in 2021, where retail investors united against institutional dominance. The $WSM token aims to empower the community with opportunities. The token supply is allocated 100% to the community, with 30% designated for rewards and airdrops to holders.
Analysts anticipate substantial growth for $WSM following its exchange listing. The combination of a large following, upcoming exchange listings, and potential airdrops positions Wall Street Memes and $WSM to make a significant impact in the meme coin market.