SEC Coin Is Exploding - Next 100x Shitcoin?

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Several themed memecoins surged when the Securities and Exchange Commission (SEC) and its chairman, Gary Gensler, sued Coinbase and Binance. But this doesn’t extend across all verticals, with memecoins, in particular, enjoying a second wind following sensational rallies across April and May.

The Securities and Exchange Commission (SEC) sues Binance and Coinbase

The SEC has cited Binance, the main participant in the global cryptocurrency exchange market, and its founder, Changpeng Zhao, for a number of regulatory violations. The main allegations leveled against Binance revolve around the suspected mixing of billions of dollars belonging to users.

Furthermore, the business is accused of undercutting its regulations in order to encourage the participation of wealthy US investors in trading on Binance’s unregulated global exchange platform. Simultaneously, Coinbase is dealing with an SEC lawsuit alleging that it is operating as an unregistered broker and exchange.

The regulatory authority believes Coinbase’s primary services, which include prime brokerage, exchange, and staking programs, violate securities laws. The simultaneous lawsuits filed against Binance and Coinbase caused substantial debate and analysis among the Bitcoin community.

Speculation abounds as to whether the regulatory body plans to suffocate these bitcoin exchanges, allowing Wall Street to seize dominance. While the future of these crypto exchanges is uncertain, there is a rising concern in the crypto business about regulatory compliance.

Memecoin skyrockets in response to Gensler enforcement actions

Following the SEC’s actions against cryptocurrency exchanges Coinbase and Binance, a number of memecoins bearing the likeness of the SEC and its chair, Gary Gensler, have seen a dramatic increase in price.

Good Gensler (GENSLR) is one such token that surged more than 260% in the hours following the regulator’s June 6 complaint against Coinbase for allegedly providing unregistered securities. Similarly, another Gensler-derived memecoin with the profanity-laden name Fuck Gary Gensler (FKGARY) has seen some growth.

The SEC-themed meme token, properly known as ‘FuckTheSEC’ ($SEC), leads the pack. The $SEC cryptocurrency appears to have captured the attention of a crypto community aflame with palpable dissatisfaction following the SEC’s enforcement activities.

With many retail traders arguing that the SEC’s attempts to ‘protect investors’ are the primary cause of portfolio losses this week, the SEC was going to soar. In a massive community reaction to Gensler, the SEC has risen more than 25,000% in less than 24 hours, outpacing decades of expansion in traditional stock assets. The price of $SEC is now at a high of $0.000001730.

The people says otherwise $SEC

Join the movementhttps://t.co/AZpxGBZm7V pic.twitter.com/nAS4KGDmAt

— FomoCrypto (@fomo_ALTs) June 8, 2023

Memecoin enthusiasts did not limit themselves to Gensler. Another token with the ticker “SEC,” which stands for “Stupid Egotistical Cocksuckers,” experienced significant volatility following the regulator’s recent moves. The SEC cryptocurrency was introduced on June 5 and surged 15,000% in the next 24 hours.

However, the increase in value was brief. The price of SEC-themed memecoin has dropped by more than half since its all-time high. Price action appears to be holding well in this case, with a steady stream of purchase pressure fueling well-defended consolidation over the last 24 hours.

As the crypto community rallies around the regulatory meme currency, the technical structure has been prepared to climb higher. See our guide to the best memecoins to buy here.

On track to being the greatest memecoin ever

Major memecoins are experiencing a significant dip as the crypto market faces a downturn. In the past few days, popular meme tokens such as Pepe and Shiba Inu have seen double-digit losses, with the overall crypto market showing instability.

Despite the market unrest, Wall Street Memes ($WSM) has caught investor attention as it raised over $5 million just a few days after its launch. Let’s take a look at why traders are backing this new token to outperform the wider bear market.

The $WSM presale phenomenon skyrocketed to over $5.5 million

Memecoins, which have been shown to be extremely beneficial for traders, are the year’s hottest topic. Wall Street Memes (WSM) is one such coin that is currently generating a lot of excitement in the crypto community, and for good reason.

The $WSM token is currently in its presale phase with a price of $0.028, with a future price increase of $0.0283. Despite the project’s short duration, it has already raised over $5.7 million during the presale. This goal appears to be within reach for what is already a well-liked project.

The presale for the project includes up to 30 stages, each with a new and higher price. As a result, before the $0.0337 listing price, investors can buy as many tokens as they desire. Individuals interested in purchasing the token can do so with either ETH, USDT, BNB or a bank card.

& this mf probably got in $BTC, $ETH and $WSM early pic.twitter.com/vvAODGDyQw

— Wall Street Memes (@wallstmemes) June 9, 2023

The heart of $WSM is for the community

Wall Street Memes translates this trend into a tokenized representation known as the $WSM token, embracing the power of cryptocurrencies and the democratization of finance. The WSM team has been open about the project’s tokenomics. See our Wall Street Memes price prediction here.

The presale part provides for 50% of the entire token supply, with the remaining 30% reserved for community prizes. The remaining 20% is divided equally between CEX and DEX liquidity. $WSM also has a current tournament that offers a $50,000 $WSM airdrop to five lucky members.

A planned airdrop for the $WSM coin gives anyone interested in qualifying a unique chance through active interaction and participation in multiple social channels. Individuals who hold and trade $WSM tokens are also eligible for this airdrop.

Wall Street Memes offers particular characteristics that contribute to its attractiveness, making it an enticing investment prospect. To take part in the presale visit wallstmemes.com.