As Donald Trump continues to dominate headlines, and meme coin markets haven’t skipped a beat as a new Trump (MAGA) meme coin surges +20,000% on-chain.
This comes amid the State of Georgia v. Donald Trump indictment case, which saw Trump surrender to authorities in Georgia for a now infamous mug-shot and paperwork processing on August 24.
Trump has agreed to post bond to the tune of $200,000, and stated he would refrain from antagonizing the situation on social media until trial.
However, in the days since, the Trump campaign have managed to net more than $9.4m selling merchandise such as t-shirts featuring his mug-shot.
The sensation around the mug-shot helped fuel $MAGA from a $250k to a $5m market cap – to the delight of eagle-eyed DEX traders.
MAGA Price Analysis: Will Trump Bounce Back to New ATH?
Amid the frenzied media circus, MAGA has undertaken an explosive recovery rally, leaving Trump token trading at a current market price of $0.0875 (representing a 24-hour change of +24.37%).
This comes after a seismic -80% retracement from an all-time high at $0.15 on August 27.
But a strong display on August 29 saw bag-holders mount a well-defended double-bottomed consolidation, priming technical structure to undertake the ongoing second rally.
So far MAGA has pushed up +195% from the depths of consolidation, providing relief to bag-holders are buy pressure remains strong representing 73% of transactions over the last hour.
The explosion from $250k to $5m in market cap has been driven by a flood of more than $513k in trading volume over the last 24-hours.
And with almost 1,500 dedicated bag-holders – price action seems in strong form, continuing to push up on the hourly.
With few signs of a scam, Trump has emerged as a breakout DEX token, but while DEX traders play with big risk, more astute investors are gravitating to a safer play.
Introducing the Biggest Memecoin CEX Launch of On-Chain Summer: Wall Street Memes
Wall Street Memes emerged as one of the biggest meme coin presales of 2023 over the past few months, with the seed funding rounds amassing more than $25m from early backers.
Bolstered by the support of this over 1m+ strong community, this rockstar project is expected to make substantial gains upon an upcoming CEX launch in less than 30 days – lets deep dive why.
Deep-Dive: Why is Wall Street Memes Expected to Explode?
In a testament to the skyrocketing growth, the $WSM token community now stands one million strong, with the presale exceeding all expectations to amass over $25 million in presale funding – now standing as the biggest meme coin presale of 2023.
The humungous feat is almost unprecedented for new meme coin projects that are yet to even hit the DEX markets, and investors are taking notice as the project emerges as a top choice for the biggest coin CEX launch of Q3 2023.
In a meme coin homage to the anti-bank investors that took on Wall Street, $WSM is aiming to transform powerful Wall Street Bets community sentiment into a tangible asset – seeking not only to tokenize the anti-bank movement but also to redefine our perception of digital value.
But what really has investors flocking in, is its democratic price point at just $0.0337, which has allured thousands of early backers given the WSM presale has surged with $25m raised.
Furthermore, there is a clear signal that investors could unlock lucrative gains with $WSM, not least because of the built-in +30% for presale investors in the initial listing.
Mysterious Crypto Whale Buys $1M Amid Wall Street Memes Presale Hype
In one instance that stands to show the excitement around this meme coin, a crypto whale invested $1 million in the Wall Street Memes $WSM presale in early August – maybe it was Elon Musk?
The mystery whale address purchased $WSM in five transactions amounting to 460 ETH valued at $840,000 executed over six minutes.
A further 93 ETH were made from the same wallet two weeks earlier. In total, $1 million has been invested in $WSM by the mystery crypto whale.
The crypto whale purchases are a significant vote of confidence in Wall Street Memes and its return on investment potential.
The $WSM crypto whale’s token purchases can be seen on Etherscan.
The same whale address also bought 93 ETH worth of $WSM in a prior transaction.
Wall Street Meme’s Million Strong Community and Moon-Shot Tokenomics
In keeping with the original anti-bank philosophy, $WSM will be allocating 30% of the token supply to community rewards, with an additional 20% going towards liquidity, and 50% up for grabs in the presale – this is a democratic project for the masses.
And this no-team split has fuelled the project’s explosive growth on social media, with the Wall Street Memes community now amassing an impressive +1m followers in the community.
This explosive community growth is likely to incentive major CEX listings such as Gate.Io, which could propel the $WSM token on an incredible moon-shot.
And with long-term holding incentivized by Wall Street Meme’s novel staking mechanism – which boasts an eye-watering 282% APY – this token seems destined to explode.
With a proven track record stemming from the success of the Wall Street Bets NFT collection, this project continues to thrive off the original moment in history when $WSM exploded onto the scene.
Don’t miss your chance to secure a slice of the next skyrocketing meme token – connect with Wall Street Memes on Twitter and Telegram.
Buy $WSM Here
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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