Why Is Crypto Down Today? 5 ICOs Whales Are Still Buying

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The crypto market plunged 4% amid concerns that strong US economic data might slow the pace of the Federal Reserve’s interest rate cuts in the US.

The Institute for Supply Management’s December PMI jumped to 54.1 from November’s 52.1, and November’s JOLTS report showed more job openings than had been expected.

Investors are now adjusting their outlook for rate cuts, seeing less than a 50% chance for such moves before June.

Cryptos fell across the board with AI memes and meme coins among the worst hit segments after plunging 13% and 4%, respectively, according to CoinMarketCap.

Bitcoin tumbled 1.6% to trade at $93,578 at 7.31 a.m. EST. US stocks were also hit, with big names such as Nvidia and Tesla plunging 6.2% and 3%, respectively.

US stocks tumbled after upbeat economic data raised concerns that an inflation rebound could slow down the Federal Reserve's pace of monetary policy easing https://t.co/UbdwV849f2 pic.twitter.com/iRbTfDLRWf

— Reuters Business (@ReutersBiz) January 8, 2025

Despite these fluctuations, could there still be opportunities for crypto traders to capitalize on during the market slump?

Best Wallet “Upcoming Tokens”: Opportunities For Crypto Traders

Top crypto traders can almost always find ways to capitalize on opportunities, even in a down market. The key is knowing how to identify promising cryptos to invest in.

One way some investors are using to discover potential investment opportunities is via the leading Web3 wallet Best Wallet. Its “Upcoming Tokens” feature flags promising new presale cryptos before they hit the market, and already it’s found a number of crypto gems.

Take Pepe Unchained ($PEPU), which at one point after launch had soared more than 757%, or Catslap (SLAP), which is up thousands of percent since its market debut. Upcoming Tokens alerted wallet holders early to both of these cryptos.

Top Five New Crypto Tokens To Invest In Now

So, what is Upcoming Tokens recommending now? Here are its top 5 picks:

Wall Street Pepe

Wall Street Pepe (WEPE), a new Pepe derivative, is its top pick after raising more than $44.5 million in a little over a month. The frog-themed token is on track to become one of the most successful ICOs (Initial Coin Offerings) of all time.

WEPE’s single goal in life is to help the little guys beat secretive whale investors. The project offers trading calls and market insights that help level the playing field against privileged whales.

Winning is a vibe and I’ve got it. 🐸 ⚔️ pic.twitter.com/XbH9kImFGS

— Wall Street Pepe (@WEPEToken) January 7, 2025

Solaxy

Solaxy ($SOLX) is a Solana-based layer-2 meme coin that’s raised almost $9.4 million in its presale. One whale buy of $158k in the early hours of New Year’s Eve has helped power the project higher, and that could be a good sign that big investors are starting to invest in innovative new tokens with viral appeal.

The idea behind Solaxy is that it will help the Solana blockchain overcome congestion on its network that’s been caused largely by the success of platforms like meme coin launchpad Pump.fun.

Meme Index

Meme Index (MEMEX) is an innovative new meme coin project that’s raised over $2.2 million in its presale. The project is the first to offer investors the opportunity to invest in four different baskets of meme coins to diversify their risk.

The baskets range from the high-risk Meme Frenzy to Meme Titan, which invests in leading meme coins like Dogecoin, Shiba Inu, and Pepe.

Catslap

Upcoming Tokens flagged Catslap ($SLAP) earlier and the meme coin is still ranked high among its recommendations. The listed token is accompanied by an interesting Slap-to-Earn game, which allows investors to earn token rewards.

The SLAP game went viral and has now chalked up more than 2.6 billion slaps by players across the globe, prompting comparisons with the viral clicker game Hamster Kombat (HMSTR) .

Flockerz

Despite the overall market decline, Flockerz (FLOCK) tokens are still selling like hotcakes. Its presale has surged past $9.2 million as investors seem to love the idea of its vote-to-earn model, which actually rewards token holders with FLOCK tokens every time they vote on a key decision the project needs to make.

FLOCK now has a timer on its official website that shows there’s just 13 days left before its presale closes.

Newest Meme Coin ICO - Wall Street Pepe

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