The consistently poor performance of ApeCoin and Pepe has urged investors to look for alternatives. Neither Ape nor Pepe has steam left to reward them with multifold returns this year. Pepe, in particular, has a steep road ahead as competition from new meme coins like Wall Street Memes gets fierce.
Here is a price analysis of ApeCoin and Pepe and why investors are dumping these tokens for better returns.
ApeCoin nosedives 22% in a month
ApeCoin is not necessarily a meme coin that relies on hype and speculation. It is a utility-rich token that serves as a decentralized protocol layer for community-led initiatives. The project drives culture forward into the metaverse. But the creative use of the Ape meme culture and ties to Bored Ape Yacht Club make it a favorite among meme coin investors.
At the heart of the project is the ApeCoin DAO, which addresses the relevance of decentralized governance in building and managing a globally dispersed community. In fact, it has been a key element in the success of the APE ecosystem. Membership to the DAO is open to all APE holders and allows them to make decisions regarding ecosystem fund allocations, governance rules, projects, partnerships, etc.
ApeCoin 1-month price overview, 30 May 2023, CoinMarketCap
While the concept seemed fresh and interesting in the early days of the project release, taking APE to an all-time high of $39.40 in March 2022, the community is fast deteriorating today. It is 92% down from its all-time high and struggling to stay relevant. A price overview of the coin shows that it has been mostly drenched in red throughout the year, despite a short hike in January 2023.
Since February, APE has been walking down the hill, hitting a new low of $3.21 on 30 May 2023. According to industry analysts, the coin doesn’t have a recovery in sight. With nothing exciting going on in the ecosystem, it will continue down the path in the coming weeks, further shedding its value.
Currently, APE ranks #40 on CoinMarketCap, with a market cap of $1,181,612,602. It won’t be long before the coin is knocked out of the top-50 crypto chart and a new token takes its place. For a few days, we thought it would be Pepe. But that doesn’t seem to be the case, with Pepe relentless in its mission to disappoint investors with bigger losses each day.
Is Pepe down to a point of no return?
Pepe is one of the few assets to rekindle the spirit of the market this year. The explicitly useless coin, aka shitcoin, hit the market without a lot of noise but went on to climb the charts in the next few days, reaping returns in four digits. The token was in the $1B club in a flash and its name was across all social media communities and crypto news publications for a few days.
Pepe 7-day price overview, 30 May 2023, CoinMarketCap
But Pepe’s steep downturn over the last few days to a market cap of $562M proves that investors are in a danger zone. The balloon has burst, and the market cap will continue to dip in the coming days. Meme coin or shitcoin, a crypto community needs regular updates to stay in the limelight and create value.
Pepe’s first-of-its-kind Uniswap launch without any presale or utility was interesting. And investors have made the most of its hype over the last few weeks. But investors who still hold on to the token are milking a dead cow. The project doesn’t have anything new or unique to offer now. For example, a recent update from Pepe was multiple multichain integrations which didn’t help the price at all.
Unless Pepe comes up with intriguing developments, it will be soon past a point of recovery. The roadmap doesn’t give any reason for hope, however. It is too ambitious for a bland shitcoin.
Wall Street Memes has the attention of investors now
One of the key contenders for the top-3 meme coin position this year is Wall Street Memes ($WSM), which analysts believe could be a game changer in the crypto landscape.
Literally
— Elon Musk (@elonmusk) March 18, 2023
Interestingly, the tech Mogul, who is also an avid fan of meme coins, has engaged with the Wall Street Memes three times in the past. But that doesn’t explain the massive hype behind the project. A natural evolution of the iconic Wall St Bulls NFT collection, which sold out in 32 minutes in 2021, the meme coin has more going on.
To begin with, it boasts a large community of over 1M across social media platforms. The launch of the collection added interest to the project. Even if this is your first time hearing about Wall Street Memes, you must have come across its content.
As the name implies, they are themed around Wall Street and have a large reach among crypto and traditional investors. $WSM is one of the few cryptocurrencies with the potential to penetrate the traditional investor community this year.
With, $WSM tokens, the team’s goal is to allow community members to be part of its growth. It is a way of giving back to the community, tapping into the meme coin hype that has a history of generating 100X returns in a flash. For this, 50% of the token supply is set aside for presale investors.
The remaining 50% will be used for CEX/DEX liquidity and community rewards, which will ensure that the project retains and builds value even after the initial exchange listings. The total supply is capped at 2B.
The $WSM presale is selling out at a rapid pace
Presales are often a sign of the strength of a project. Judging by the fast progress of the Wall Street Memes token presale, which is already past the $1M milestone within three days of going live, $WSM is headed for a 100X explosion.
The traffic to the presale is growing by the day, as more investors take advantage of the early discounts to enter the project at a low price. The presale is divided into multiple stages with a gradual price increase and a hard cap of $30,577,000. The DEX launch is scheduled for the fourth quarter of 2023, but the presale is likely to sell out ahead of schedule, keeping up with the growing demand.
An airdrop with $50,000 worth of $WSM up for grabs has also catalyzed engagement in the community. The $50,000 will be split among five lucky community members. The airdrop is part of a series of community-building initiatives the project has planned for this year. To give you a better perspective, community members have to complete multiple, simple tasks like following the Wall Street Memes on social channels to stand a chance to win the prize.
The meteoric presale has caught the eyes of traders on the hunt for the next Pepe coin. If $WSM sticks to its creative marketing and community-building campaigns, it has the potential to knock out ApeCoin, Pepe, and Shiba Inu to become the second-largest meme coin with an $8B market cap toward the end of the year.
The ongoing price correction of high-cap cryptos that justifies their project development and community strength will expedite the ascent of inventive projects like Wall Street Memes to the top-50 crypto chart.
Other lucrative alternatives: AiDoge and yPredict
$WSM’s massive popularity is underpinned by its unique value propositions that reshape the crypto landscape. While the project unlocks crypto community strength to create multifold returns, emerging projects like AiDoge and yPredict have their foundation rooted in real-world use cases.
For example, AiDoge is a meme coin that allows users to mint new memes using its native AI-based application. It simplifies the process of meme generation. While that sounds like a silly use case, it has a large potential user base. Memes are one of the critical components of Web 2.0. Although everyone enjoys memes, not everyone can create one. AiDoge’s AI tool changes this. Using the $AI token, anyone can convert their text prompts to ready-to-publish memes within minutes.
The AiDoge presale sold out within days of going live, raising more than $14.9 million. But investors can still join the presale at the listing price before the DEX launch.
The next project that has large growth potential this year is yPredict, an all-in-one AI ecosystem dedicated to traders. It makes advanced crypto predictive models designed by AI developers and quants available to users through monthly subscriptions. The subscriptions will be paid in YPRED, the native token.
The key highlights of the platform are AI signals, sentiment analysis, technical analysis by AI, 25+ chart pattern recognition, and transactional data analytics for thousands of digital assets. The predictive models are trained on billions of data points.
A fundamental analysis of the project looks promising. Its high market relevance lies in the fact that an increasing number of traders are on the lookout for reliable tools to navigate the market flooded with bots and algorithms.
Make sure you join the presale, which is now in the sixth stage, early to secure high discounts. Since the market cap of the project is limited to $6.5M at the listing, it has a large room for growth.