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Hoppy Coin ($HOPPY) plunged 50% in a day, prompting concerns about a potential pump-and-dump scheme.
The recent price drop appears to be connected to the listing of $HOPPY on Poloniex, which took place yesterday at 07:00 EST.
🆕 Listing: @HOPPYToken 🎉$HOPPY wallets will open on July 17, at 10:00 UTC and full trading will be enabled on July 17, at 11:00 UTC. https://t.co/4yMMRDoZ8o#HOPPY #crypto #listing pic.twitter.com/PW9Z5Z7Acg
— Poloniex Exchange (@Poloniex) July 17, 2023
Subsequently, following the euphoria of being listed on an exchange, tokens often witness an initial surge in price. However, this upward movement is typically followed by a significant decline as many investors aim to secure their profits and sell their holdings.
Hoppy Coin Price Moves Since Launch
According to Dextools, at exactly 05:03 EST on July 18, the asset had 24 hours trading volume of just $5.3 million. Despite that, HOPPY/WETH has a liquidity of $345,000 and a market cap of $935,000.
Three days ago, Hoppy coin entered the market with an initial trading price of $0.0000000003. It experienced a remarkable surge of 91%, reaching an All-Time High of $0.00000004 on July 17 at 00:30 EST.
However, subsequent market dynamics caused the coin’s value to decline significantly by nearly 50% on July 18, settling at $0.00000001.
Hoppy Technical Indicators – Potential Surge?
We aim to gain insights into the market conditions and forecast potential price movements by analyzing these indicators. Looking at the chart, HOPPY is trading above the Moving Average Indicator, indicating a positive market trend.
This suggests that the asset’s price is higher than the average price over a specific time, suggesting potential strength and positive sentiment among traders.
Additionally, the Moving Average Convergence Divergence (MACD) trading above the signal line confirms the bullish sentiment. Also, the histogram bars show a green candle highlighting the increase in buying pressure.
Lastly, the Relative Strength Index is at 39.04, getting closer to the oversold. This indicates that the price may experience a potential trend reversal. Traders should use other technical analysis tools before setting up trades, as the digital market is highly volatile.
Price Bounced Off From Support Zone
As shown on the 30-minute chart, after a sharp price decline that sent the HOPPYWETH trading pair toward the primary support level of $0.00000001, the asset shows an increase in momentum as the price bounced up from the significant support level.
The price of HOPPY/WETH has shown significant strength. Recent price movements suggest strong bullish momentum, which might see the price trade back above the daily resistance of $0.0000000 and probably hit new price discovery.
Recent Development Set to Influence HOPPY Price
In a recent development, the Hoppy coin team announced via Twitter 7 hours ago that their $HOPPY will be listed on DIGIFINEX crypto trading exchange today. When a coin is listed on a trading exchange, it typically has the potential to positively and negatively impact its price.
One possibility is that the listing announcement has already generated significant hype and anticipation, causing traders to buy the coin in anticipation of a price increase. However, once the coin is listed, some investors may decide to sell their holdings to secure profits, leading to temporary downward pressure on the price.
It’s important to note that market reactions can vary, and listing on a trading exchange can also bring positive effects, such as increased visibility, accessibility, and potential for greater trading volume in the long term.
Wall Street Meme (WSM) Smashes $15M in Presale – The Next Coin to Do 100X?
In the past two months, Wall Street Memes ($WSM) have emerged among the most talked-about projects as the meme coin market exploded in popularity.
Wall Street Memes ($WSM) has generated more than $15 million during its presale phase, demonstrating substantial interest from individual investors.
As the demand continues to thrive, there is speculation about the potential for Wall Street Memes ($WSM) to emulate the remarkable returns achieved by Pepe ($PEPE) in the past.
Wall Street Memes holds significant importance as it was developed by the same team behind the popular Wall Street Bulls NFT collection, which remarkably sold out within 32 minutes in 2021.
Leveraging their expertise in the digital assets space, the creators are now launching $WSM, providing an opportunity for investors to gain exposure to the growth of the Wall Street Memes brand. The presale of Wall Street Memes is currently in Stage 23 out of 30, offering $WSM tokens at only $0.0316.
The staged approach implies that the price of $WSM will increase with each stage, encouraging potential investors to act promptly to secure the most favorable entry point.
Factor Driving $WSW Demand
An essential catalyst behind the rising demand for $WSM is its existing and vibrant community of “degens.” This community encompasses more than 1.1 million individuals actively engaged across various social media platforms.
Wall Street Memes’ Twitter account boasts 253,000 followers, while their official Instagram page commands an audience of 534,000. This strong community support has propelled the Wall Street Memes’ presale to immediate success, with daily investments exceeding $300,000.
With the considerable buzz surrounding $WSM, there are indications that it holds promising prospects for prominent cryptocurrency exchanges like Binance. While this remains speculative, the team behind Wall Street Memes has disclosed plans to list $WSM on both CEXs and DEXs once the presale concludes.
Although the specific exchange names are undisclosed, the allocation of 50% of the total $WSM to presale investors highlights their significant involvement. It demonstrates the creators’ confidence in the project’s future success post-exchange listings.
How to Buy Wall Street Meme Token
Investors can buy Wall Street Memes using ETH, USDt, BNB, or credit or debit card.
- Visit the website, then tap on buy now.
- Send BNB or ETH to your wallet and swap for $WSM.
- Investors can equally buy $SWM tokens using USDT – ERC-20 or BEP-20. You can swap the USDT option and swap your preferred amount.
- If you prefer plastic, you can easily use your crypto wallet address and order $WSM tokens with your bank card.
- Connect your wallet – either Meta Mask or Trust Wallet.
- Follow the on-screen instructions and proceed.
- Confirm the transaction.
The tokens will be delivered to buyers after the presale event.
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