INJ Experiencing Price Fluctuations: Wall Street Memes Emerge as Potential Competitor

INK (Injective) blockchain is an open-source, Layer 1 interoperable blockchain that is the next-generation blockchain for cross-chain transactions.

Injections drive decentralized applications such as prediction markets, lending protocols, derivative exchanges, and spot platforms. It also supports the execution of smart contracts.

Injective employs Tendermint-based proof-of-stake consensus to accomplish this and leverages the Cosmos SDK mechanism, ensuring swift and seamless transactions with a remarkable performance of over 10,000 transactions per second (TPS).

The Latest INJ Price Trend

As of 9:49 EST on July 18, 2023, the native coin of the project, INJ, is experiencing a 3% decline in price, with a current market cap of $712 million. Despite the price dip, there’s a notable 21% increase in trading volume over the last 24 hours. The coin is trading at $8.924, showing a relatively stable performance in the past week, with a low of $7.88 and a high of $9.71.

Looking at its overall trajectory, INJ has displayed impressive growth, gaining 1% over the last 2 weeks and a staggering 560% increase over a year. These figures reflect the asset’s strong performance and market potential, as TradingView reported.

INJ Price Fluctuations Based on Technical Overview

Based on the technical chart analysis provided above, the INJ market is exhibiting some interesting trends before the end of the day. The coin is currently trading above both the 50-Day and 200-Day Simple Moving Average (SMA), indicating a bullish trend in the market.

However, the asset’s Relative Strength Index (RSI) shows a value of 59.79, which places it in the neutral zone but is moving toward the oversold zone (30). This suggests that buying pressure has diminished, likely due to the influence of bearish actions, as observed in the chart.

Moreover, the Moving Average Convergence Divergence (MACD) indicator is slightly above the signal line with a faint green histogram bar, reinforcing the signal from the RSI and pointing toward potential fluctuations for INJ today.

Considering the market behavior in the past 3 days, as depicted in the chart, traders and investors should exercise caution and closely monitor the developments in the INJ market throughout the day.

Levels of support and resistance of INJ

Based on the coin’s chart analysis, bears currently control INJ’s market. If their selling momentum continues, the asset’s market price could reach the $7.891 support level. Such a bearish trend might lead investors to fear further losses, prompting them to sell at current prices, potentially driving negative sentiment in the market, and causing INJ’s market value to drop further, possibly hitting the $7.388 support level.

However, there is a glimmer of hope for the coin’s value appreciation. If cheerful news emerges, it could propel the price to test the $9.626 resistance. In such a scenario, crossing this resistance level could trigger excitement among investors, leading to increased buying pressure. As a result, the coin may surge toward the $9.957 resistance, showcasing the potential for significant gains.

Market Experts Predict INJ’s Future Values

Various groups of technical analysts and crypto experts have conducted thorough analyses of INJ’s market performance and have presented their predictions for the asset’s future prices. According to Coincodex’s projections, by 2024, the market prices for INJ could range from $7.81 to $16.53.

In 2025, the coin’s price might fluctuate between $14.71 (lowest) and $49.08 (highest). Bitnation’s team of experts offered their predictions for 2023, suggesting that INJ could have prices ranging from $10.77 to $16.15. By 2026, they envisioned a more comprehensive range with prices spanning from $37.68 to $43.06.

Looking further into the future, by 2028, they foresaw INJ reaching prices between $55.62 and $61.00.
AMB Crypto’s technical experts predicted that by 2023, INJ’s average, lowest, and highest prices could be around $6.96, $5.57, and $8.36, respectively.

These diverse projections provide valuable insights for investors and enthusiasts seeking to gauge the potential trajectory of INJ in the cryptocurrency market.

INJ Market Behavior: Factors that Could Change It

On July 17, 2023, Injective made an exciting announcement via its Twitter page, revealing that the community had voted to incorporate $XRP into its platform, as evidenced by the successful passage of IIP-238.

The following day, on July 18, 2023, Injective further reported that its developers had actively participated in the AwesomWasm conference in Berlin, where they gained valuable insights into the immense potential of the Injective blockchain. These noteworthy updates are likely to significantly impact investors’ decisions, potentially shaping the market’s perception and performance of the asset.

Alternative Asset: Wall Street Memes ($$WSM)

WSMT presents itself as the top meme coin in the crypto market with a positive outlook for investors.
The official website says, “The project is the ultimate expression of the internet’s triumph over rampant capitalism.”

Wall Street Memes (WSM) is a meme coin that has taken the crypto world by storm to empower investors and turn them into millionaires by tapping into the viral success of meme projects like PEPE. The group behind WSM made a significant impact in 2021 when they rapidly sold out 10K units of the Wall Street Bulls NFT collection, gaining widespread attention on the internet.

Crypto enthusiasts have been drawn to WSM’s native token, $$WSM, given the impressive track record of its creators.

This token fuels the project’s growth and rewards its loyal community members. The project’s allure is further bolstered by the claim that the world’s wealthiest individual, Elon Musk, has interacted with its social community on Twitter, hinting at potential success, given Elon’s history of thriving in various ventures.

With a strong presence on popular social media platforms and the support of investors, Wall Street Memes seems poised for an exciting journey ahead.

Pre-Sale For $$WSM

The presale of Wall Street Memes’ token has been a remarkable success, surpassing all expectations. Starting at $11 million, funding has soared to over $15 million, inching closer to the significant $16 million milestone at a unit price of $0.0319.

The clock is ticking, and investors have only 5 days and 1 hour left to seize the opportunity before the presale price increases to $0.0322. With ambitious plans to reach a $1 billion market capitalization, the team behind Wall Street Memes has laid a solid foundation on the Ethereum blockchain with 2 billion units of $$WSM, offering 50% during the presale.

Acquiring the token during this presale phase could be a wise and potentially lucrative decision for any investor.

Wall Street Memes: Features and Benefits

The exclusive $WSM features offer an exciting array of opportunities for the Wall Street Memes community. The token airdrop is a strategic promotion to boost the project’s exposure and drive $WSM token sales.

After the presale period, five fortunate winners will be selected, each receiving a share of $50 thousand worth of $WSM units, adding an element of anticipation and reward to the venture. Additionally, the Wall Street Memes Merch Store is set to serve a dual purpose.

It will bring the community closer together and enhance brand awareness and strengthen the sense of responsibility associated with the Wall Street Memes brand. With token airdrops, an NFT collection, and merchandise, Wall Street Memes continues to pave the way for an engaging and inclusive crypto experience.

Wall Street Memes’ Remaining $$WSM Units are Distributed

After setting aside 50% for the presale stage, the project team distributed the remaining token units. A portion of 10% was allocated to the centralized exchange (CEX) to foster liquidity and ensure the tokens could freely circulate.

Simultaneously, another 10% was directed to the decentralized exchange (DEX) to enhance accessibility for anyone interested in acquiring the token.

The creators reserved a substantial 30% of the token for community rewards, aiming to recognize and celebrate community members’ unwavering support and dedication, who have proven to be true meme warriors throughout the project’s journey.