It’s been another dramatic week for meme coin lovers, with several significant events catching their attention.
Pepe ($PEPE) has seen a substantial dip in its price, while newcomer Wall Street Memes ($WSM) is creating waves by raising over $15 million in its ongoing presale.
This article discusses both of these major talking points, along with several other intriguing developments in the meme coin space.
1. Pepe Price Tanks After Hitting Major Resistance Level
The price of Pepe ($PEPE) has seen a sharp decline in recent days, falling around 17% since Friday.
This drop comes after $PEPE hit stiff resistance at the $0.000001864 level last week, sparking a rejection and a change in investor sentiment.
Since then, $PEPE has erased most of the gains made during the bullish surge last Thursday.
Moreover, the selling pressure has meant that $PEPE is now testing the 20-day Exponential Moving Average (EMA) as support – and investors are hoping it holds to prevent another sharp drop.
Unfortunately for $PEPE bulls, the token’s daily trading volume has dropped to just $82 million, according to CoinMarketCap data.
This volume decrease signals waning interest in the token, which could lead to further price erosion.
Ultimately, the next few days will be crucial for $PEPE as it tries to find a new floor and stabilize after its recent price swings.
2. Viral Project Wall Street Memes Raises $15m in Ongoing Presale Phase
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Author: BeInCrypto Team
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