The big players in the meme coin world, Pepe ($PEPE) and Dogecoin ($DOGE), are taking a breather after their recent bullish exploits.
With both showing minimal price momentum during a calm week in the cryptocurrency market, meme coin traders have started looking elsewhere for gains.
Meanwhile, two brand-new meme projects, Wall Street Memes ($WSM) and Thug Life ($THUG), have emerged as potential hotspots for significant growth.
Bearish Week for $PEPE Amid Declining Trading Volume
At the time of writing, $PEPE is hovering around the $0.00000147 level, having closed bearishly in four of the last five days.
Even though $PEPE’s price has only fallen by 4% in the past week, the overall momentum remains bearish, suggesting that the optimistic trends seen in late June may now be over.
From a technical perspective, the $PEPE price appears to be heading back to the strong support region at $0.00000142.
Price rejected this level aggressively on June 29 – and $PEPE bulls will be hoping a similar scenario plays out this time.
Unfortunately, per CoinMarketCap datathe token’s daily trading volume has dropped to just $96 million – a far cry from June, when it averaged over $800 million daily.
Nonetheless, $PEPE has shown resilience in the past and managed to bounce back from setbacks, indicating that there’s still potential for a recovery in the days ahead.
Dogecoin Enters Consolidation Phase As Market Takes a Breather
Similarly, Dogecoin is also experiencing a quiet spell in the market.
Mimicking $PEPE’s price movements, $DOGE has been undergoing a consolidation phase, with its value trading in a narrow range between $0.0644 and $0.0662.
The meme coin market appears to be in a “wait and see” mode, following Dogecoin’s recent exploits – although the technicals for $DOGE do appear more positive than $PEPE’s.
For example, the $DOGE price has respected an upwards trendline on three occasions since June 10, which has helped prop up the token’s value.
In addition, $DOGE is holding the minor support level at $0.0645, with the long wicks over the past few days indicating a high volume of buy orders.
However, a potential challenge to Dogecoin is its declining trading volume, with data from CoinGecko revealing that it’s now a fraction of what it was in the first week of July.
Which Meme Coins Are Bullish This Week?
As Pepe and Dogecoin take a breather, attention shifts towards the newcomers in the meme coin space.
Wall Street Memes and Thug Life have quickly become the talk of the crypto community, showcasing bullish momentum in their respective presale phases.
Wall Street Memes Emerges as Contender to be the Next Pepe & Raises $14.4m Through Presale
Wall Street Memes ($WSM) has taken the crypto community by storm through the viral presale of the $WSM token.
Launched at the end of May, the presale has already surpassed $14.4 million in funding, which means that investors are buying approximately $300,000 per day of $WSM.
This rapid growth highlights the potential of $WSM to match (or even exceed) the gains made by well-known meme coins like Pepe and Dogecoin.
At the time of writing, the ongoing presale prices $WSM tokens at just $0.0316 – an appealing price point considering the strength of the Wall Street Memes community.
Given Wall Street Memes’ massive audience, combined with the instant success of its presale, many believe that Tier-1 exchange listings are now on the horizon for $WSM.
These listings could be crucial since Wall Street Memes’ whitepaper details plans to reach a whopping $1 billion market cap in the future.
Wall Street Memes has even caught the attention of high-profile crypto influencers, with Michael Wrubel posting a video on July 12 stating that he’d bought $WSM.
Overall, Wall Street Memes’ bullish trajectory undoubtedly solidifies its potential as a game-changer in the meme coin world.
“Baller’s Meme Coin” Thug Life Causes a Stir & Raises $1.2m with Just 4 Days Left to Buy
Thug Life ($THUG) is another new entrant into the crypto scene and has already caused a stir throughout the investment community.
Within just two weeks, Thug Life’s presale has raised an incredible $1.2 million, with investors from all over the world vying to get involved.
Based on the super-popular “Thug Life” meme, $THUG aims to create a community of like-minded investors who have grown tired of missing out on exponential gains in the meme coin market.
With just four days left until the conclusion of Thug Life’s presale, prospective investors have a limited opportunity to acquire $THUG at the low price of $0.0007.
Per Thug Life’s whitepaperthe developers plan to launch $THUG on major decentralized exchanges (DEXs) following the conclusion of the presale, a move that could potentially catalyze a price surge.
The developers also plan to host a $THUG airdrop campaign, providing another way for interested investors to acquire tokens.
With the Thug Life telegram channel continuing to see new members join daily, this token looks primed for growth in the weeks ahead.
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