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The price of Chainlink ($LINK) has exploded by a whopping 20% over the past 24 hours as the coin approaches the 2023 highs again.
The sudden increase in price action allowed $LINK to break above $8 and push the market cap for the project to $4.3 billion, making it the twenty-first largest cryptocurrency on the market.
While $LINK surges, traders are also keeping their eyes on newly emerging projects that can potentially provide significantly higher returns.
In particular, Wall Street Memes ($WSM) and Evil Pepe ($EVILPEPE) are turning heads as they gain popularity in their early stages.
LINK Surges 20% In 24 Hours to Approach 2023 Highs – Why is it Surging?
Chainlink, the decentralized oracle protocol to bring real-world data onto the blockchain, recently surged by a whopping 20% over the past 24 hours – causing the price to head toward the 2023 highs again.
The price surge was primarily attributed to a newly released feature on the protocol, which caused a group of whales to swap a large amount of $ETH for $LINK, causing the price surge;
The newly introduced feature for Chainlink is called the Cross-Chain Interoperability Protocol (CCIP), which allows users to move their tokens from one chain to another through two mechanisms; “lock and mint” or “burn and release.”
The new feature is designed to help developers build cross-chain applications and services and is available for early access for users on Avalanche, Ethereum, Optimism, and Polygon blockchains.
The new protocol caused a slew of whales to re-enter the $LINK trading ecosystem, making them the primary driving forces behind the link surge.
For example, the price of $LINK exploded by 6.2% in one trade when a whale purchased $6 million worth of $LINK at $7.62
2 whales (probably the same person) bought a total of 788,877 $LINK ($6 million) for $7.62 just now.
The whale swapped all 3,074 $stETH ($5.87M) and 71 $ETH ($136K) for 788,877 $LINK.
This purchase increased the price of $LINK by 6.5%. pic.twitter.com/ajLBP8Vesz
— Lookonchain (@lookonchain) July 20, 2023
Following this, another two whales bought LINK for $1.82 million, pushing the price further higher.
Another whale bought 186,956 $LINK ($1.5M) at $7.2 after the price of $LINK increased 2 days ago.
The whale spent 650K $USDC to buy 90,222 $LINK from DEX and withdraw 96,734 $LINK ($669K) from #Binance.https://t.co/XRVDVSMq3N pic.twitter.com/qY9SgcPzVc
— Lookonchain (@lookonchain) July 20, 2023
Chainlink Price Analysis: Where Can $LINK Head Next?
With the price surging, traders wonder where $LINK can head next. It’s important to mention that $LINK has been rising since mid-June and is up by a total of 68% from the June lows to the current price;
Yesterday’s 20% price hike allowed $LINK to head toward the 2023 high of $8.80.
Looking ahead, the first resistance lies at $8.54. This is followed by resistance at the $8.80 2023 high, $9 (July 2020 resistance), and $9.45 (November 2022 highs).
Beyond $10 (1.414 Fib Extension), resistance is expected at $10.50 and $19.73 (1.618 Fib Extension).
Alternatively, support lies at $8, $7.64 (.236 Fib), $7.15 (.382 Fib), $7, $6.72 (.5 Fib), and $6.31 (.618 Fib).
Can These Quickly Growing Tokens Pump Next?
$LINK isn’t the only project that’s attracting the attention of whales.
Several projects are gaining popularity as traders believe they’re next in line to pump.
The best thing about these alternate projects is that they have much lower market caps, which can potentially provide considerably higher profits for early adopters.
In particular, Wall Street Memes ($WSM) and Evil Pepe ($EVILPEPE) are starting to turn heads as whales begin to position themselves at the lowest possible prices before they hit exchanges and explode.
Wall Street Memes Cross $16.5 Million Milestone as Presale Heats Up.
Wall Street Memes has quickly become the most sought-after meme coin in the sector and the fastest-growing presale after raising over $16.5 million in under eight weeks.
The project is touted as the next meme coin sensation on the market due to its vast cult-like community, hilarious meme-based culture, and attention gained from billionaire investors like Elon Musk.
Wall Street Memes is on a mission to expose the greedy capitalists on Wall Street and the corruption in our financial system through a bank of hilarious memes on social media.
The memes have become so popular that they generate over 40 million monthly impressions.
They’ve even attracted the attention of Twitter CEO Elon Musk, who’s been interacting with the profile on several occasions;
The interactions with the tech mogul have sparked speculation if the billionaire has finally found a new meme coin to add to his portfolio alongside his beloved Dogecoin.
In addition, the community behind Wall Street Memes has grown to over 1.1 million across its social media.
Experts believe that the huge cult-like audience puts $WSM in a guaranteed position to be listed on major tier-1 exchanges like Binance or OKX after its presale.
Lastly, the project is entirely community-driven, with the 2 billion $WSM supply dedicated to the community and adding liquidity to major exchanges.
Overall, the unique fusion of internet culture, meme-based humor, and decentralized finance has created the perfect balance of hype and FOMO for $WSM – setting the foundation to make it the next meme coin sensation that can replicate the success of coins like $PEPE.
With just a third of the presale supply remaining, investors have a short window to get positioned in this 100x project at presale prices before it hits exchanges and explodes.
Evil Pepe Gains Momentum as Degen Traders Embrace Their Dark Side
Another token turning heads is Evil Pepe, a project that allows degen traders to embrace their dark side.
Evil Pepe intends to replicate the success of $PEPE derivatives, like $PEPE2.0, $POP, and $PEPECOIN, through an expertly crafted marketing campaign.
The project is centered around Pepe the Frog’s alter-ego, representing the malevolent side of the meme coin game.
Evil Pepe is the voice that makes you do bad things, such as apeing into the next rug-pull project – even when you know you shouldn’t be doing it.
His convincing whispers drive your shitcoin trading decisions, and he’s at it again, convincing you not to wait for $EVILPEPE to hit DEXs and FOMO in at the presale.
Despite his evil nature, Evil Pepe still wants his project to be entirely fair for all participants.
As a result, he’s selling 90% of his entire token supply in the presale at a single price of $0.000033.
The remaining 10% will be locked in the pool for a smooth trading environment through Team Finance – preventing his ability to rug pull on everybody.
Furthermore, with a presale hard cap of under $2 million, not everybody will have the opportunity to get positioned in $EVILPEPE at $0.000033 if they don’t act quickly.
Once the presale ends, the token is expected to start trending on DexTools and provide at least 10x returns.
