The popularity of meme tokens on the market continues to grow. Companies issue new coins based on funny pictures and whirling memes, attracting attention to their product. Experts say that the lack of real utility of such assets does not mean that they will not bring profit.
Interest, community and infoprovods are the main “fuel” for the growth of meme assets. This is how the price of Dogecoin changes every time after Ilon Musk’s tweets. Now memcoin is experiencing a recovery after a sharp fall in early June. But what’s next for DOGE, what alternatives can investors consider?
Why is Wall Street Memes the best opportunity for those who missed the Dogecoin presale?
In May, Wall Street Memes, a popular social media community, released a meme coin of the same name that raised over $100,000 within minutes of the pre-sale starting. Not surprisingly, the new product is in high demand. More than a million people follow the project’s memes on social networks.
Experts explain that the $WSM token is popular due to the trust of members of the cryptocurrency community. It is enough to pay attention to the course of pre-sale: in a month the project has collected more than $10 million.
The development team has already established itself on the market – earlier it sold all tokens from the NFT collection in just half an hour, receiving $2.5 million.
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$WSM is a new cryptocurrency that has no real utility. It serves to epitomize the change the company wants to bring to the digital finance market.
The positive evaluation from the community was also influenced by the attention of Ilon Musk on the social network Twitter. At the time of the project’s launch, he reposted a Wall Street Memes post and thus increased the demand for the new cryptocurrency among his followers. This is not the first time that such a trend has been observed in the market: memcoins that Musk mentions in his account are rapidly increasing in value.
Experts also pay attention to the transparent policy of Wall Street Memes. The team abandoned the idea of conducting a closed sale for VIP investors. Thus, 50% of tokens are available for purchase at the presale, 30% will be used for rewards, and 20% will be directed to DEX and CEX.
The favorable value of the new meme token provides an opportunity to invest money in a project that will bring big profits. In the current pre-sale phase, you can buy the cryptocurrency for $0.0304, but soon the token’s value will rise again.
Dogecoin price forecast for the current week
Dogecoin is one of the most famous meme coins. Its logo is a Japanese dog of the Shiba Inu breed. The interest of the cryptocurrency community in the new project increased rapidly after the famous entrepreneur Ilon Musk published a funny meme with this dog in his official Twitter account. For a long time there have been discussions on the Internet about the possible integration of Dogecoin into this social network. The reason was the purchase of Twitter, which Ilon Musk made in April 2022.
The support of the Tesla CEO is of great importance for the cryptocurrency project. The entrepreneur is a whale and is able to have a strong influence on the dynamics of the price of a particular token. Through publications in social networks, he creates excitement around new and old products. This, in turn, makes buyers feel the fear of lost profits. Experts note that in such a situation, the prices of digital assets can rise rapidly and fall sharply.
According to the portal CoinMarketCap, today Dogecoin ranks 8th in the top 10 among cryptocurrencies with a high level of market capitalization.
Unlike many other coins, Dogecoin’s offering is unrestricted. At the time of writing, the company’s full offering stands at over 139 billion tokens. That’s 7 billion more than it recorded last fall.
Analysts suggest that Dogecoin will increase in value in the short and long term. For example, the meme-coin will not fall below the $0.062 level for the week of June 26 to June 30, 2023. On Monday and Tuesday, the minimum will be $0.063 and the maximum will be $0.065. On Wednesday, the token could drop to $0.064 or rise to $0.066. On Thursday, the price range will be $0.065-0.067. Toward the end of the week, the digital asset will trade at $0.064 (low) or $0.066 (high).
Is it worth buying DOGE now
The cryptocurrency market is characterized by a high level of volatility. Experts note that the demand for cryptocurrencies whose creators were inspired by famous memes is increasing at the moment.
Potential investors, in turn, often wonder what meme coins are the most suitable for investing money. Many of them opt for long-established tokens, as they consider them more stable. When it comes to established projects, users can track the price dynamics and make an informed decision based on that.
As mentioned above, sustainability is a fundamental factor for buying. Over the past year, Dogecoin has proven that it can hold its performance even during difficult and unstable times in the market.
Reasons to buy the cryptocurrency also include the massive support of the community. Analysts are confident that along with the further growth of the project’s community, its price will also increase.
The availability of the asset is no less important. This is a promising project that can bring the owner a large profit. And it costs much less than bitcoin. Even investors who do not have much experience with different types of coins can invest in it.
Buy Dogecoin at the moment you can buy it on many trading platforms. But experts recommend the following three:
- eToro – a top exchange with a simple and convenient interface, which will be understandable even to a novice investor. To make a purchase, it is enough to deposit only $10.
- Crypto.com is an exchange where you can make deposits up to $50 thousand daily.
- Binance is a reputable exchange with low commissions.
However, if an investor wants to invest minimal funds and get their return with profit in a short period of time, it is worth paying attention to the presale of cryptocurrencies, for example, on Wall Street Memes. But it is important to remember that any investment requires independent analysis and can be risky.
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Author: Saifedean Ammous, an expert in cryptocurrency economics.
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