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It seems like Elon Musk has lost his charm on the Dogecoin community. His nod to the memecoin captain this week hasn’t influenced its price like one would expect. Or maybe, even Elon Musk can’t save Dogecoin at this point.
Doges
— Elon Musk (@elonmusk) July 17, 2023
The tweet translated to a mere 3% gain in the hours that followed. Dogecoin has made a short 5.78% climb on the weekly chart. But that can be attributed to the crypto community’s victory in the SEC-Ripple lawsuit more than the tech mogul.
Emerging meme coins like Evil Pepe and Wall Street Memes continue to seize investor attention as Dogecoin and Shiba Inu take the backseat.
Is Doge dead?
Historically, Elon Musk has triggered some of the most exciting manias in the Dogecoin community. His influence on the Dogecoin (DOGE) price goes back to the year 2021. The fact that many of Musk’s fans had dipped their toes into the crypto market fuelled the trend.
Throughout the year, he made a series of subtle and stark tweets, along with media nods, that took the DOGE price through the roof.
That is a thing of the past now, however. The Dogecoin community has turned against Musk and has accused him of unfairly influencing its price. But it’s unclear whether that is the reason the latest tweet from Musk on July 17 referring to Dogecoin hasn’t caused ripples in the market.
Dogecoin 1-year price overview, 19 July 2023, CoinMarketCap
With or without Elon Musk, the Doge price has been largely lackluster over the last few months. Apart from random two-digit climbs, the meme coin has failed to move the market significantly. As of now, Dogecoin is 90.66% down from its all-time high of $0.7376.
While it’s too early to deem Dogecoin dead, given its strong credibility in the market, investors have their eyes set on new market entrants. Established meme coins like Dogecoin, Shiba Inu, and Pepe are past their prime, whereas promising new assets that explore unique themes have explosive potential.
The more radical and explicit the meme coin, the stronger its momentum.
In this article, we have listed two meme coins that have gone viral this month. Being in their presale stage, the bull run has yet to begin.
Evil Pepe Hype is Building Up
Evil Pepe is the most interesting meme coin to enter the market this season. The meme coin’s vision is simple.
“You just lost your previous trade, so you know you should leave it alone. But you ape in anyway. That’s Evil Pepe. He made you do it. And you can blame him without shame here. We all need a bit of an evil side to succeed in the meme coin game.”
The openly sinister meme coin has its eyes on profits and profits alone. But how much profit you can gain on the token depends on the community’s strength and solidarity. This is because the project has set aside 90% of its total token supply for the ongoing presale. In other words, presale investors largely determine the course of the project.
There are 6,660,000,000 Evil Pepe tokens in total, out of which 5,994,000,000 go to presale investors at a price of $0.00033300. The remaining 10% will be used as locked liquidity in a duration of one month to tackle liquidity crunches as we saw in the case of Pepe amid the craze. The initial market cap of $EVILPEPE is remarkably low at $1,996,002. That leaves early investors plenty of room for growth.
The presale for #EvilPepe is live on https://t.co/tSzIy5cOXV
The launch of this project is set to be a wickedly fun ride.. Nobody knows how to lure people in quite like Pepe, and #EvilPepe is king!
You know you want in.. Listen to your inner #EvilPepe 🐸#PRESALE #live #ERC20 pic.twitter.com/kF5PfeRSS7
— Evil Pepe (@evilpepe_token) July 18, 2023
Evil Pepe’s biggest strength is its creative marketing team, as the hilarious memes and website reveal. They cater to the taste of the meme coin community, which is biased toward controversial content.
But that’s not all. The project also piggybacks off of one of 2023’s best-performing meme coin genres – Pepe. The Pepe tag helps the coin draw attention, while the creative campaigns help it go viral and build a substantial meme coin community. Although the project launched just hours back, the social momentum is picking up.
To make sure that the DEX listing is fair, the claiming of $EVILPEPE tokens will be activated on the website at the same time as the DEX listing.
Wall Street Memes Next in Line to Explode
Another cryptocurrency to make headlines this month is Wall Street Memes. The project has already raised $16M out of its $30M presale goal to the dismay of meme coin haters. That doesn’t come as a shock to the crypto community, however. Earlier in 2021, Wall Street Memes community, which has a 1M+ global community, sold out its initial NFT collection in 32 minutes.
It goes without saying that WSM’s biggest strength is the underlying community of investors and traders spread across the globe. If you’re a social media user, chances are you have come across Wall Street Memes at some point. They are not only wildly hilarious, but also thought-provoking if you are not easily offended.
Nobody is spared from the digs. Not even Elon Musk, who has interacted with the community multiple times in the past. We could argue that WSM is the latest project to benefit from Elon Musk’s global stardom and influence over the meme coin community. But the truth is that the project can stand on its own feet.
Since the community has been in existence even before the birth of the meme coin, WSM has better long-term prospects than most of its competitors. Analysts predict a 50X-80X price rise for the meme coin in the month that follows the initial exchange listing.
Even if the momentum mellows down subsequently for an inevitable price correction, WSM is one of the few projects that have the potential to enter the top-3 meme coin chart this year.
It won’t kill Doge or Shib. That’s aiming too high. But it can definitely kill Pepe if it manages to maintain the social media sentiments in the coming weeks.
The best way into the project is the ongoing presale, which comes with attractive discounts. It is best not to wait until the initial DEX launch to purchase the coin as the hype is showing no signs of a slow-down.
