Next Cryptocurrency to Explode Wednesday, 9 August - Wall Street Memes, Shiba Inu, Pepe

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The crypto market is doing a lot better on Wednesday as its capitalization is up by 1.84% higher than Tuesday. Our last next cryptocurrency to explode post showed that the crypto market had a lot to deal with as it struggled to rise. The market, however, began the recent uptick later on Tuesday.

Good news from Wednesday’s European and American stock markets would add to investors’ excitement. The Italian government announced a new tax regime on bank profits. The move was welcome in all spheres of the European market as it relieved the banks. This is a major factor behind the stock market rebound in the economic zone.

Across the pond, stock futures are also giving signs of a rebound ahead of the inflation report. The US expects the inflation reading on Thursday to stay how the economy fared in July. The same is expected in China. With export down last month, investors hope that China’s inflation report will offer some relief.

While the market braces up, they are also trying to gather as much as possible before the reports. India’s Prime Minister, Narendra Moody, has indicated that banks are not out of the woods yet. This came as the PM downgraded ten institutions on Tuesday on the grounds of high funding and low returns. This move sent the share prices of mid-sized banks to plummet almost immediately.

The Next Cryptocurrency To Explode

Seeing what the trends are about, it may be safe to say that the crypto market is taking the right steps in the right direction. If the inflation reading sharpens investors’ appetite for risky assets, the market will receive new inflows.

The high trading volume within the market for the last couple of days was due to the rapid movement of existing funds. That is expected to change soon. If that does not happen, then the market may slide further into the bearish zone.

1. Wall Street Memes (WSM)

One of the market-leading presales, Wall Street Memes, is blazing harder with its presale. It has now raised over $22.5 million. The rate at which it gathers attention and rakes in funding stabilizes its feet as the next cryptocurrency to explode.

As old timers may know, Wall Street Memes was born from the GameStop and Wall Street Bets crises. This project combines internet culture, meme humor, and financial activities. The central goal of this project is to lighten the effects and situations of traditional finance. At the same time, it gives users exposure to the crypto market. They can invest and catch fun at the same time.

The platform’s native token, WSM, stands as the embodiment of the entire movement. The token allows users to engage in bets as Wall Street traders do. Interested persons have to join the community and buy the WSM token to become part of the movement.

Buy high, sell low. pic.twitter.com/OwFLpZ9jXv

— Wall Street Memes (@wallstmemes) August 7, 2023

Furthermore, Wall Street Memes are a face of the internet’s victory over unregulated capitalism. People have famously gotten rich on stocks without having any real value. The memecoin revolution being criticized for the same reason is presenting the same opportunity for regular people to get rich.

The WSM token currently sells for $0.0331. In the little time its presale was launched, it has secured much support. The huge funds it raised in that only signifies the range of appeal.

To buy WSM tokens, interested persons should visit the project website and choose USDT or ETH as their preferred means of payment. The team behind it places high priority on transparency, and they give sufficient information on their operations. 50% of the entire token supply is allotted to be sold during the presale. 30% have been separated to be given out as a reward to the community. The final 20% is divided into two to serve as liquidity for centralized and decentralized exchanges.

Visit Wall Street Memes.

2. Shiba Inu (SHIB)

Now that the crypto market is trying to find its way back to bullish territory, as we mentioned earlier, the meme sub-sector seems to be taking it a notch higher. Shiba Inu, which is the second largest memecoin by market capitalization, is rising by 9.89% to 10%. It is an unusual move that places its price in the range of $0.000009848.

The next cryptocurrency to explode, SHIB, is experiencing a growth rate that is considered unusual because it had been on a bearish trajectory for most of the year. The rebound is marking a forceful comeback from its long-drawn bearish decline.

The recent growth is aided by a number of activities on the blockchain, including SHIB’s overnight trading volume. The trading volume has risen as high as 52.37% and raked in over $383.4 million.

The possible event that triggered that is also not far-fetched. Bulls know what they have at stake with the expected Shibarioum Layer-2 protocol launch. The launch is scheduled to be done at the Blockchain Futurist Conference coming up next weekend.

Shibariium will bring a new era for every protocol operating in its ecosystem. With improved usability through decentralized apps, it has been projected that Shiba Inu will see huge demands. This will go ahead to increase its influence in the memecoin space.

Cryptos are usually very volatile, and they are difficult to predict. Investors would like to take advantage of the current surge as fast as possible. Shiba Inu has effectively moved from being just another speculative memecoin since it announced plans to unveil Shibarium.

As the Shiba Inu ecosystem matures, it is placing more emphasis on utility and relevance. These are the tools it will rely on to drive the growth of its token. The platform’s developers are doubling down on this idea and hoping that SHIB and tokens will maintain their gains over time.

3. Pepe (PEPE)

Pepe coins had an exponential rise that caught everybody’s attention this year. Nevertheless, in a similar fashion to some memecoins, PEPE’s excitement phase came to an end. This led directly to a period of decline. But there seems to be a likely shift in the asset’s fortune now.

Pepe has seen a significant rise, as high as 12% on Wednesday, even though it is struggling with its value from its all-time high. Another addition to the current price action is that the platform has also seen a sharp increase in its native token’s trading volume. The last three days reflect this trading volume upswing as it has now raised over $169 million from $53 million on the 7th of August. Increased buying activities brought about this higher trading volume.

While all these go on, a whale has stepped up to buy a large portion of the PEPE token. According to Lookonchain, the unidentified whale invested a million USDC worth $1,000,300 to buy about 807 billion PEPE tokens. The tokens were purchased at $0.000001239/token.

Importantly, Pepe was equally experiencing renewed interest and more adoption. IntoTheBlock said the PEPE token has begun to draw a set of investors. The number of new crypto addresses carrying out their first transactions in a day increased from 22% on the 5th of August to 28.65% on the 9th of August.

Every indicator shows that the token has a sufficient chance of sustaining its new momentum. Investors may want to come on board now and give this a little bit of push.

4. Solana (SOL)

Solana is gaining significant strength and leading the market’s rise at this time. Analysts share the opinion that the asset presents a rich perspective, especially when its recent performance is considered. It has undisputed attributes of the next cryptocurrency to explode if the current trend is sustained.

Despite the fact that it has confronted huge skepticism and criticisms, Solana is showing resilience. The market remembers how it rose by over 203% after dropping to its lowest level in Q4 2022. While many, at that time, expected it to fall further, SOL came back with a surprise. A few traders are still waiting on the sideline to buy this asset at their desired dip price, but it is showing no sign that it would travel that route anymore.

Technicals also bolster SOL’s position and support the sentiment around it. SOL is showing a bullish trend on its daily chart. This movement is specifically noteworthy since Solana has broken out of the 50% Fib retracement level. It is an indicator of an upcoming uptick.

Currently selling at $24.74, market watchers say the next point of resistance for Solana is at $25.5. Some think that if the price dips further, then it will provide an opportunity for bears to buy the dip. While the market is evolving, some members of the community are waiting for a price rejection at the $27 mark.

While crypto may be volatile and uncertain, Solana’s recent trajectory encourages a positive outlook. Potential investors should, however, carry out their research.