Filecoin Price Going to Zero As FIL Called A Security By SEC While Wall Street Memes Hits $6.1 Million In Presale

While Filecoin has shown a 1.45% growth in its price over the last 24 hours, specific technical indicators suggest a potential bearish trend shortly.

One factor contributing to the possible downward movement of Filecoin’s price is the recent classification of the token as a security by the U.S. Securities and Exchange Commission (SEC).

While FIL tanks, an alternative investment option, is a meme token Wall Street Memes is currently in its presale phase. Wall Street Memes presents an opportunity for early investors to benefit from the token’s future growth potentially. Here’s more detail on the past and possible future price trends of the FIL token.

Past Price Trend Of The FIL Coin In June 2023

In early June, Filecoin began trading at around $4.6910. Over the next few days, the token experienced multiple price swings but generally remained within the $4 range. 

This period of relative stability indicated a consolidation phase, where the price was consolidating before making a more significant move. However, it is worth noting that despite this consolidation, Filecoin’s overall price trend in June leaned toward the bearish side.

On June 10, Filecoin experienced a notable drop, reaching a low of $2.8811. However, the token quickly rebounded from this low point, recovering to the $3 price range. This recovery indicated some buying interest and potential support around the $3 level.

Today, June 12, Filecoin is trading at $3.4206, having maintained its price within this range since the rebound. This price range suggests a relatively stable period for the token, with buyers and sellers finding some equilibrium in the market. However, the bearish sentiment persists, as the token has struggled to make a sustained upward move.

Filecoin’s Price Prediction According To Technical Indicators

Filecoin (FIL) has tended to more bearish moves rather than bullish ones, as suggested by certain technical indicators such as the MACD and Moving Average.

The Moving Average Convergence Divergence (MACD) is a commonly used technical indicator that helps identify potential trend reversals, momentum shifts, and buy/sell signals.

When the MACD line crosses below the signal line, as with Filecoin, it indicates a bearish signal. This suggests that the selling pressure has outweighed buying pressure, potentially leading to further downward price movements.

Furthermore, Filecoin’s price trading below the 50-day and 200-day Moving Averages is another bearish indication. However, it is necessary to state that the token’s Relative Strength Index (RSI) has dipped below the 30 marks, currently standing at 25.75.

The RSI is a momentum oscillator that gives the speed and change of price movements, and FIL shows a reading below 30. This figure indicates that the asset is oversold, potentially signaling a buying opportunity and a trigger for a bullish move.

Wall Street Memes (WSM), An Alternative To Filecoin

Wall Street Memes (WSM) presents itself as a potentially profitable alternative to Filecoin, with its presale attracting the attention of numerous cryptocurrency investors. Notably, the WSM team has taken strategic steps to establish a strong presence in the market.

One notable achievement by the WSM team is the organization of the Wall St Bulls NFT collection, which generated significant interest and achieved remarkable sales within a short period.

Last year, the collection sold out in just 32 minutes, indicating a strong demand for their offerings and the team’s ability to create hype around their projects.

In terms of funding, the WSM presale has been successful, raising over $6.3 million. This demonstrates investor confidence and interest in the project.

Each WSM token is offered at $0.0283 during the current presale stage. This relatively low price point may attract investors seeking early entry into the project, potentially leading to price appreciation as the project progresses and gains traction.

Features of Wall Street Memes

Wall St Bulls NFT Collection

WSM proudly associates itself with the known Wall St Bulls NFT collection. This collection comprises 10,000 unique crypto assets that brilliantly capture the idea behind Wall Street. From captivating artwork to exclusive designs, these NFTs symbolize the brand’s connection to the financial world.

Airdrop Opportunity

WSM is currently running an airdrop event as part of its presale campaign. This presents a significant chance for individuals to get involved and potentially reap substantial rewards. After approximately six months, five fortunate winners will be selected to receive a cash reward of $10,000.

Trendy Merchandise

WSM goes beyond digital assets and offers a range of stylish merchandise designed to foster a sense of community and raise brand awareness.

By sporting their trendy T-shirts, caps, sweatshirts, and mugs, WSM enthusiasts express their affinity for the brand and join a like-minded community united by a shared identity. These fashionable items serve as powerful conversation starters and make bold statements wherever they go.