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The Wall Street Memes price is up 17% in the last 24 hours to trade for $0.01656 as of 4:40 a.m. EST time, with trading volume rising 33%.
The surge in WSM price comes amid renewed interest in meme coins and altcoins in general, coming off the back of approvals for spot Bitcoin exchange-traded funds (ETFs). Alongside Wall Street Memes price, Dogecoin (DOGE), Shiba Inu (SHIB), Bonk Inu (BONK), and Floki Inu (FLOKI) are also rallying, with Pepe coin (PEPE) recording double-digit gains.
With the Bitcoin price falling and altcoins rallying, there appears to be a capital rotation, with meme coins benefiting. Another sector that continues to pump is the AI crypto coins, accentuating the capital rotation thesis.
Wall Street Memes Price Prognosis As Capital Flows From Bitcoin To Altcoins
The Wall Street Memes price action since October has consolidated into a falling wedge pattern. This technical formation signals a bullish reversal after a downtrend. It is characterized by lower highs and lower lows that slope downwards while contracting into a narrower range. This is before the price finally breaks above the resistance line and a change in trend direction takes place.
The histogram bars of the Awesome Oscillator are flashing green to show the bulls are finally resurfacing. The Relative Strength Index (RSI) had also crossed above a signal line (yellow band), with the crossover often precipitating a bullish move.
Increased buying pressure above current levels could see Wall Street Memes price extend north, breaching the $0.01983 barricade and flipping it into support. An extended move north could see WSM price breach the upper boundary of the wedge with a possible extension to the supply zone extending between $0.02454 and $0.02696. A break and close above the midline of the supply zone at $0.02575 would confirm the continuation of the uptrend.
In a highly bullish case, Wall Street Memes price could flip the supply zone into a bullish breaker, confirmed by a break and close above $0.02805. Beyond this level, WSM price could target the $0.03000 psychological level, or higher, reclaiming the mid-October highs at $0.03500. Such a move would constitute a 110% climb above current levels.
Notably, if Wall Street Memes price decisively overcomes the upper boundary of the falling wedge, it could run at least 80% north above the $0.40000 psychological level, which is the target objective of the wedge.
Converse Case
On the flip side, if the seller moment outweighs the buying pressure, Wall Street Memes price could descend to the lower boundary of the pattern. In the dire case, the fall could see WSM price test the range low at $0.01157.
While WSM bulls push to get the Wall Street Memes price to activate the falling wedge pattern for a potential 80% profit, Sponge V2 is making headlines. According to experts, it could dethrone Pepe.
Promising Alternatives To Wall Street Memes
Sponge V2, which merits analysts’ top picks for the best meme coins to invest in, is the upgrade to the previous version, Sponge V1. The predecessor set a high bar, but Sponge V2 looks poised to outperform V1.
🚀 Missed Sponge V1's 100x Success?
With an even larger campaign for #SpongeV2, we’re coming back stronger than ever! 💪
Hurry and stake your $SPONGE tokens today! 🔥$SPONGE #Crypto #CryptoStaking pic.twitter.com/QIo0RMz4LT
— $SPONGE (@spongeoneth) January 6, 2024
Featuring among the top cryptos to watch in 2024, Sponge V2 marks the relaunch of the legendary Sponge token, and there’s a unique process to acquire it. You can either buy and stake Sponge V1 through the Sponge.vip website’s buy widget, or stake held Sponge V1 through the Sponge.vip website.
Sponge token stakers get an Annual Percentage Yield (APY) rate of 351% currently, which explains the buying pressure catalyzing the price appreciation. It attracts new capital coming into Sponge as investors chase the new utility features of SPONGE V2.
📈 Stake your $SPONGE for a minimum 40% APY in rewards, paid out in V2! 🧽
Secure your long-term bag today! 😎🙌#Sponge #Web3 #Crypto #Alts pic.twitter.com/OZLJwOl3Su
— $SPONGE (@spongeoneth) January 10, 2024
The token has attracted the support of crypto executive Justin Sun, the Founder of Tron (TRX). Data from on-chain detective Lookonchain recently revealed that a wallet address (0x176f3dab24a159341c0509bb36b833e7fdd0a132) with the ‘Justin Sun 4’ tag was spotted on Etherscan holding 108 million SPONGE V1 valued at $43,246 at the time. With the current price, Sun’s holdings are now valued at around $93,000.
Justin Sun holds this #memecoin :O I won't even say anymore… this could destroy #SNEK and #PEPE..! Who remembers #SPONGE?!! 🫢🔥$SPONGE V2 is making loud movements in the market, even #Trons very own Justin Sun is holding $50k worth of SPONGE! 😮 💎💎
DYOR -… pic.twitter.com/ULzSDJdYnS
— Jacob Crypto Bury (@BuryCrypto) January 4, 2024
Visit and buy Sponge V2 here to join investors like Justin Sun in a meme coin that might register exponential growth.
Also Read:
- How To Buy Sponge Crypto Token – V1 And V2 Upgrade
- 100X Meme Coin Sponge Prepares For Second Takeoff With Launch of V2 – Is $SPONGEV2 The Best Crypto to Buy Now?
- SPONGE Price Skyrockets 84% In 24 Hours As V2 Bridging Hype Explodes. Is Sponge V2 The Next Pepe Coin?
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