Late August and early September were turbulent for the crypto market, witnessing significant losses. It started with a Bitcoin (BTC) flash crash on august 24th which pushed it below the long-held resistance level at $30k. this triggered a market-wide dip, resulting in almost $200 billion lost. Shiba Inu (SHIB) was also affected by the sudden correction, ending up at $0.000007.
In the last week, however, we are seeing signs of recovery. Positive growth was demonstrated by both BTC and SHIB, but both were outperformed by two newcomers. Wall Street Memes (WSM) & Bitcoin BSC (BTCBSC) represent a new generation of crypto tokens and are attracting a lot of attention from investors fed up with BTC’s volatility and SHIB’s inability to break through and create significant gains.
Bitcoin Rebounds After Last Week’s Flash Crash, Shiba Inu Follows Suit
Last week was fairly unpleasant for not only Bitcoin and Shiba Inu holders but for most of the crypto market. The sudden drop of BTC pulled down all the major cryptocurrencies, causing a 1.7% dip and wiping out almost $200 billion. Bitcoin ended up below $26,000 for the first time in months, and most analysts blamed the United States Federal Reserve for the flash crash. The FED has announced that it is committed to reducing inflation to 2% and is increasing the benchmark interest rate to 5.25%-5.50%. This is the highest interest rates have been in the last 22 years and the Fed’s decision is having a profound impact on all markets.
The Fed announcement caused several whales to start dumping their crypto assets and relocating money into less risky options, like Treasury bonds. Some, however, opted for tokens like WSM and BTC20, boosting their presales and betting that these upcoming meme coins will explode once they appear on crypto exchanges.
In the last week, though, we are seeing clear signs of recovery. Bitcoin price predictions are prognosing positive growth as the market rebounds and recovers most of the losses incurred last week. This is excellent news for new and upcoming cryptocurrencies as they will enter a healthy market, ready to invest. In light of these events, WSM and SONIK look even more favorable and tempting.
Shiba Inu Enters a Bullish Phase
Shiba Inu is a long way from its days of glory. Once hailed as Dogekiller, SHIB has been struggling even before last year’s crash that devastated the crypto market. After that, it has been a mere shadow of itself. The turbulence that hit the crypto market last week also affected Shiba Inu, but some analysts suggest that it may be on the road to recovery.
Granted, the rise in Shiba Inu’s value isn’t spectacular, but it can be expected that the pace can improve as the rest of the market picks up, starting next week. Still, SHIB remains a questionable investment, especially as there are more promising meme coins on the market, like WSM, for example which is attracting a lot of attention due to the hype generated around them.
Wall Street Memes Is Having a Record-Breaking Presale, Raises over $25 million
Wall Street Memes emerged as one of the biggest surprises of 2023, with a record-breaking presale that has managed to raise over $25 million in a matter of weeks. WSM is currently outperforming both BTC and SHIB and at this pace, it will become the most successful meme coin of the year.
But the real treat for early investors who recognized the WSM’s potential will come once the token hits the open market. The scheduled listings on selected DEX platforms are expected to launch Wall Street Memes into the stratosphere and make a bundle for its holders.
One of the reasons for WSM’s massive success is its mission to transform the hatred for Wall Street establishment into a profitable meme coin and create a community of likely-minded individuals with the same goal. The principle was proven in practice last year when r/wallstreetbets members held some of the biggest Wall Street firms hostage over the GameStop short squeeze. It took some serious underhand dealing to save them from utter ruin. Wall Street Memes aims to become a token of the revolution for people ready to rebel against the financial moguls and is succeeding wonderfully at it.
The team behind Wall Street Memes is the same one that designed and launched the Wall Street Bulls NFT collection, which sold out in 36 minutes. Investors have a lot of trust in them and their expertise when it comes to creating a crypto project from scratch and that trust is demonstrated by the success of the presale.
Bitcoin BSC Aims to Replicate Bitcoin’s Success
Another token that has captured investors’ attention is Bitcoin BSC, a new and improved version of the world’s oldest cryptocurrency. Modeled after Bitcoin as it was in April 2011, BTCBSC offers traders a chance to buy new Bitcoin for just $0.99.
BTCBSC is a BEP-20 token, created on the Binance Smart Chain network, which in turn is a derivative of Ethereum blockchain. This allows it to offer advanced features like staking to its holders. The original Bitcoin blockchain lacks a similar mechanism due to its age and somewhat obsolete architecture, making BTCBSC a technologically superior solution.
The new token is blazing through its presale, having raised more than $1.2 million in less than 10 days. As the presale is approaching its end, more and more investors are trying to get in on the ground floor of this promising project before it hits the crypto exchanges and its price goes sky high.
Ethereum (ETH) Outperforms Bitcoin as Investors Shift Toward Staking
Ethereum’s staking feature has always been one of its most popular features, but lately, it has been booming. It has driven ETH H2 price so high that it even outperformed BTC in the last month. The second-largest crypto has also benefited greatly from the fact that the SEC excluded it from the lawsuit it filed against several other tokens earlier this year.
However, the overall ETH performance is still lagging, as it delivered 58% gains since the start of the year, compared to 83% gained by Bitcoin. This is something that is causing investors to shy away from ETH and look at WSM and SONIK as options with superior ROI.
Conclusion
Despite the encouraging growth BTC and SHIB demonstrated after a very bad week both had, the investors’ trust is not enough to keep investing in them. Instead, they are turning to more promising options like WSM & BTCBSC which are poised to explode as soon as their presales end and listings start.
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