The media circus surrounding Donald Trump’s indictment has had an unexpected ripple effect on the meme coin market. The popularity of meme coins themed around Donald Trump and MAGA has soared during the ‘on-chain summer’, with TRUMP2024 experiencing a staggering 10,000% surge and MAGA token exploding by 20,000%. This surge in interest is partly due to the emergence of Telegram trading bots, which have empowered retail traders to engage in on-chain trading with minimal risk. With the next US Presidential Election just around the corner, there is a growing bullish sentiment for coins that tap into political fanfare and humor.
Despite the impressive growth, TRUMP2024 is currently experiencing a localized retracement as early backers lock in profits from yesterday’s dramatic pump. The price is currently at $0.081880 and has seen a 24-hour change of 571%. This token was initially launched on August 27, but its growth in the first three weeks was lackluster. However, the recent gagging order on Donald Trump triggered a surge of interest on September 18, with the price reaching an all-time high of $0.08335. This surge was fueled by a trading volume of over $630k, propelling TRUMP2024 to a market cap of $1.45m practically overnight.
With nearly 1,000 bag-holders and dominant buy pressure driving transactions, the price action of TRUMP2024 seems poised to consolidate at this higher level. However, while DEX traders and on-chain Telegram bots are fixated on the extreme volatility of TRUMP2024, smart money is eyeing an upcoming CEX listing. Wall Street Memes, one of the biggest meme coin presales of 2023, raised over $25m in funding. This rockstar project is expected to make substantial gains upon its CEX launch in just six days.
Wall Street Memes has become a major player in the meme coin market, boasting a community of over one million members. The project has spearheaded a unique approach by tokenizing the sentiment of the Wall Street Bets community and redefining our perception of digital value. One of the key factors driving investor interest is the democratic price point of just $0.0337, coupled with the $25m raised in the presale. In addition, there is a clear signal that investors can unlock lucrative gains, with presale investors enjoying a built-in 30% bonus in the initial listing.
The excitement around Wall Street Memes is further exemplified by a crypto whale who invested $1 million in the $WSM presale back in August. This mysterious investor made five transactions amounting to 460 ETH, and an additional 93 ETH two weeks prior. This significant investment demonstrates confidence in the project’s potential for a high return on investment.
The project’s explosive growth can be attributed to its commitment to the original anti-bank philosophy. Wall Street Memes is allocating 30% of the token supply to community rewards, 20% towards liquidity, and offering 50% in the presale. This democratic approach has fueled the project’s growth on social media, attracting over one million followers. With an upcoming CEX launch in 23 days and a novel staking mechanism offering an impressive 282% APY, Wall Street Memes is poised for astronomical growth.
The meme coin market has witnessed tremendous growth, driven by the popularity of coins themed around Donald Trump and MAGA. TRUMP2024 and MAGA token have experienced astronomical surges, fueled by the emergence of Telegram trading bots. The upcoming US Presidential Election has created a bullish sentiment for coins that tap into political fanfare and humor.
Wall Street Memes has emerged as a dominant player in the meme coin market, raising over $25m in presale funding and amassing a community of over one million members. The project’s democratic approach and unique tokenization of the Wall Street Bets sentiment have attracted investors. With an upcoming CEX launch and a novel staking mechanism offering impressive returns, Wall Street Memes seems poised for explosive growth.
Investing in meme coins carries inherent risks, and individuals should exercise caution before making any investment decisions. The information provided in this article is for informational purposes only and should not be construed as investment advice.
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