It’s been a crazy few days in the crypto market, with most coins seeing significant price pumps.
Dogecoin (DOGE) and Shiba Inu (SHIB) are two coins that have seen double-digit price increases, garnering interest from the broader investment community.
Meanwhile, meme coin sensation Wall Street Memes (WSM) continues to generate traction during its pre-sale – and is now closing in on the $10 million funding milestone.
DOGE & SHIB Bounce Signals Change In Meme Coin Trader Sentiment
At the time of writing, DOGE price is up 10% over the past three days, while SHIB is up 14% over the same period.
Both coins are seeing significant rebounds after a sustained period of decline, which came after April’s “meme coin mania”.
This is the first notable price increase for DOGE since Elon Musk changed Twitter’s logo to that of Dogecoin, underscoring the consistency of bearish sentiment in the market.
Nonetheless, things seem to be looking up for DOGE and SHIB, with both erasing the losses suffered over the past three weeks.
Digging a little deeper, data from CoinMarketCap revealed Shiba Inu daily trading volume hit $333 million, up 168% from Tuesday’s figure.
Additionally, CoinGecko’s sentiment analysis strong points that more than 78% of the community consider themselves optimistic about the prospects of Dogecoin.
These moves highlight the sudden surge in interest in both coins – investors are now hoping that the ongoing momentum can be extended.
Dogecoin and Shiba Inu are riding the wave of crypto market resurgence
The impetus behind Dogecoin and Shiba Inu came at a time when the broader crypto market is experiencing a strong resurgence.
In recent weeks, the market has been battered by fears over regulatory oversight – which came to a head when the SEC sued Binance and Coinbase.
Naturally, this move caused widespread uncertainty in the investor base, leading to a sell-off.
However, things are looking up now – triggered by BlackRock’s decision to apply for a spot Bitcoin exchange-traded fund (ETF).
While this decision does not directly affect Dogecoin or Shiba Inu, it signals growing acceptance and widespread adoption of cryptocurrencies.
This, in turn, provided a much-needed boost to overall market sentiment with DOGE and SHIB now riding the wave of heightened investor enthusiasm.
What other Meme coins are ready for prize pumps?
Although the crypto market is captivated by currency stalwarts like Dogecoin and Shiba Inu, there are other projects that seem poised for value pumps.
One such contender is Wall Street Memes – an intriguing meme coin project that has already received colossal attention during its pre-sale phase.
Wall Street Memes Hint at Explosive Potential, Approaching $10 Million Funding Milestone
Wall Street Memes (WSM)a new force in meme coins, has now raised nearly $10 million in its ongoing presale – with investor demand peaking.
Stemming from the Reddit 2021 movement that challenged Wall Street, Wall Street Memes aims to “tokenize” that spirit by launching the WSM token.
Many believe that WSM could see explosive growth later this year, given that the Wall Street Memes team has already had previous successes, thanks to the launch of the Wall St Bulls NFT Collection.
This collection sold out in just 32 minutes, generating over $2.5 million in sales.
Now, the team intends to give back to those who trusted the community by offering WSM at a low price during the presale.
This setup has amplified the buzz around Wall Street Memes – which already has an audience of over 531,000 on instagram.
Anticipation is already building around WSM’s upcoming CEX listings, which are slated for later this year.
Well-known crypto influencer Zach Humphries also had his say on the token’s outlook, highlighting the ambitious plans of the Wall Street Memes roadmap.
With an ever-expanding community and influencers throwing their weight behind it, Wall Street Memes appears to be well on its way to notable success in the meme coin space.
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