It’s been a crazy few days in the crypto market, with most coins experiencing significant price pumps.
Dogecoin (DOGE) and Shiba Inu (SHIB) are two coins that have seen double-digit price surges, capturing the interest of the investment community as a whole.
Meanwhile, meme coin sensation Wall Street Memes (WSM) continues to generate traction during its presale – and is now inching closer to the $10 million funding milestone.
DOGE & SHIB Rebound Signals Shift in Meme Coin Trader Sentiment
At the time of writing, the DOGE price is up 10% in the past three days, while SHIB has soared by 14% in the same period.
Both coins are experiencing significant rebounds following a sustained period of downward momentum, which came after the “meme coin mania” of April.
This is the first noteworthy price increase for DOGE since Elon Musk changed Twitter’s logo to Dogecoin’s, highlighting how consistent the bearish market sentiment has been.
Nevertheless, things appear to be looking bright for DOGE and SHIB, with both erasing the losses that had been sustained in the past three weeks.
Digging a little deeper, data from CoinMarketCap reveals that the daily Shiba Inu trading volume has hit $333 million – 168% higher than Tuesday’s figure.
Moreover, sentiment analysis from CoinGecko highlights that more than 78% of the community considers themselves bullish on Dogecoin’s prospects.
These metrics highlight the sudden uptick in interest for both coins – with investors now hopeful that the ongoing momentum can be prolonged.
Dogecoin & Shiba Inu Ride the Wave of Crypto Market Resurgence
The momentum behind Dogecoin and Shiba Inu has come at a time when the broader crypto market is seeing a sharp resurgence.
In recent weeks, the market has been beaten down by fears regarding regulatory oversight – which came to a head when the SEC sued Binance and Coinbase.
Naturally, this decision prompted widespread uncertainty throughout the investor base, leading to a massive sell-off.
However, things are now looking up – sparked by BlackRock’s decision to file for a spot Bitcoin exchange-traded fund (ETF).
Although this decision doesn’t directly affect Dogecoin or Shiba Inu, it does signal a growing acceptance and mainstream adoption of cryptocurrencies.
In turn, this has provided a much-needed boost to the overall market sentiment – with DOGE and SHIB now riding the wave of increased investor enthusiasm.
Which Other Meme Coins Are Primed for Price Pumps?
Although the crypto market is being captivated by meme coin stalwarts like Dogecoin and Shiba Inu, there are other projects that look primed for value pumps.
One such contender is Wall Street Memes – an intriguing meme coin project that has already received colossal attention through its presale phase.
Wall Street Memes Hints At Explosive Potential & Nears $10m Funding Milestone
Wall Street Memes (WSM), a new force in the meme coin space, has now raised nearly $10 million during its ongoing presale – with investor demand reaching a fever pitch.
Emerging from the 2021 Reddit movement that challenged Wall Street, Wall Street Memes aims to “tokenize” this spirit by launching the WSM token.
Many believe WSM could be primed for explosive growth later this year, given that the Wall Street Memes team has already achieved previous success, thanks to the launch of the Wall St Bulls NFT collection.
This collection sold out in a mere 32 minutes – bringing in over $2.5 million in sales.
Now, the team intends to give back to those who showed faith in the community by offering WSM at a low price point during the presale.
This setup has amplified the buzz around Wall Street Memes – which already commands an audience of over 531,000 people on Instagram.
Anticipation is already growing around WSM’s upcoming CEX listings, which are planned for later this year.
Renowned crypto influencer Zach Humphries has also had his say on the token’s prospects, highlighting the ambitious plans on Wall Street Memes’ roadmap.
With an ever-expanding community and influencers throwing their weight behind it, Wall Street Memes appears to be on a course for notable success in the meme coin arena.
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