MOON Coin Shoots Up 1,000% After Launch and Crypto Experts Say Wall Street Memes Will Be the Next Crypto to Explode – Here's Why
As crypto markets come to the close of a tumultuous week, the meme coin vertical continues to skyrocket, as capital flees SEC enforcement actions, and in latest pump MOON coin has surged +1,000%.
The huge upside move comes as the meme coin narrative resurges, earlier in the year a sensational meme coin run saw the likes of Pepe coin (PEPE) and Spongebob token (SPONGE) make millionaires over night.
Now playing on the popular crypto 'moon shot' meme, which emerged from the WAGMI culture, MOON is the latest meme coin to reach dizzying heights.
With capital surging to rotate into high-performing coins, many have locked onto MOON as a meme coin with serious upside potential.
The flurry of traction grew quickly last night, with MOON launching at $0.00062 before surging to a magnificent local top at $0.0155 within six hours.
This eye-watering overnight sensation saw early backers collect nearly 1,000% gains.
However, as early backers moved to take profit, MOON price action took a turn for the worse as large sell-offs drove market panic - leading to a seismic -58% retracement move.
Now trading at $0.006539, MOON is forming a lower support level back down towards the initial launch price that could poise the meme coin for a second run.
But many will be looking at the retracement move on the chart and considering whether the gains to be had on this rally have now passed.
In a synthesis of these two phenomena, one project gaining substantial traction is the Wall Street Bets ($WSM) presale - which has surged almost to the top of the ranking of best presales in 2023.
The Wall Street Memes token isn't merely another meme coin - born from the Wall Street Bets Movement and a top NFT project, $WSM carries the promise of a complete shake-up of the
Read more on cryptonews.com
