Meme coins are taking a hit across the board.
Pepe, DogWifHat Prices Dip as Traders Rotate into Wall Street Pepe - Presale Passes $13M
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It’s not looking good for fan favorites like Pepe and DogWifHat, which have dropped significantly in the past 24 hours.
But not all meme coins are in the red today.
Newcomer Wall Street Pepe is bucking the trend – with its presale soaring past the $13 million milestone to show that investor interest is still alive and well.
PEPE & WIF Lead Meme Coin Selloff as Trading Volumes Plummet
The momentum has flipped dramatically for meme coins, with PEPE and WIF both taking big hits.
PEPE has dropped to $0.000023, falling 6% in the past 24 hours and extending its losses to 16% since hitting an all-time high on Monday.
To make matters worse, spot trading volumes for PEPE have tanked by 31%, suggesting that the coin’s hype might be fading.
WIF isn’t faring much better.
The coin has slid to $2.93 after a 7% drop since yesterday, falling below its 50-day exponential moving average (EMA).
WIF is now down 26% from Saturday’s local high, and the technicals suggest it could see more downside ahead.
However, it’s not just these two – all meme coins are feeling the heat right now.
The sector’s total value has dropped below $120 billion as traders seem to be cashing in after recent rallies.
So, after weeks of explosive gains, the meme coin mania might be winding down for now.
Broader Crypto Market Pulls Back as Bitcoin Struggles Around $100K
The meme coin slump is happening alongside a broader pullback in the crypto market.
Most major cryptos are struggling to keep up their recent momentum.
Bitcoin is still hovering around $100,000 but hasn’t managed to break through, while Ethereum is trading at $3,900.
It’s a similar story for the best altcoins: Solana has fallen 2% since yesterday, and XRP has slipped 3%.
The cautious vibe in the market has led to a wave of liquidations, with over $201 million in leveraged long positions wiped out in the past 24 hours.
Despite the dip, some analysts are still bullish.
Popular crypto analyst Crypto Rover, who has nearly 1 million followers on Twitter, points to what he calls the “Christmas effect.”
It’s a historical trend where Bitcoin tends to rally in the days after Christmas every four years.
If he’s right, this current pullback could just be temporary.
Wall Street Pepe Defies Market Trend with $13M Presale Raise – Is WEPE the Next Big Meme Coin?
While the rest of the market is pulling back, Wall Street Pepe’s presale is on fire, raising over $13.4 million so far.
Even in these shaky market conditions, the project has pulled in almost $6 million in just the last 24 hours.
This raise makes it one of the fastest-growing meme coin presales ever.
The team at 99Bitcoins has even called it a potential “100x opportunity,” which is catching investors’ attention.
So, why all the excitement around Wall Street Pepe?
Unlike most meme coins, it has an actual use case, combining internet culture with utility.
The project is all about leveling the playing field between retail and professional traders, offering features like the Wall Street Pepe VIP Club, which gives members access to trading insights and signals.
On top of that, it also delivers staking rewards, which are estimated at 67% per year.
Since the staking app went live, investors have pledged more than 11.9 billion WEPE tokens.
Security is another big selling point here.
The project has already completed a smart contract audit with Coinsult, and the contract itself is renounced, meaning the developers can’t mint new tokens.
In a week when meme coins are facing considerable uncertainty, Wall Street Pepe is bucking the trend.
And investors are clearly taking notice.
Visit Wall Street Pepe Presale
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