BTC2.0 has surged by a massive 7,000% in the past 24 hours, with the new meme token reaching $0.1478 as it becomes viral and attracts exchange listings.
BTC2.0 is the latest in a long – and seemingly endless – line of new meme tokens that have emerged this year to promise gains during the ongoing bear market, following in the footsteps of PEPE, SPONGE and also a wave of ‘2.0’ coins that have piggybacked on the successes of earlier tokens.
The meme token’s gains are likely to be shortlived though, given that it has no real link to Bitcoin itself, while also suffering from a lack of the fundamentals and community that are necessary if a coin is to become sustainable.
However, other meme coins currently look more promising, with Wall Street Memes’ (WSM) presale raise of $14 million suggesting that it’s in line to have a big rally once it lists on exchanges in the next few weeks.
BTC2.0 Surges 7,000% as the Meme Token Goes Viral But Crypto Whales are Stacking This Lesser Known Coin Instead – Here’s Why
To be fair, BTC2.0’s price action looks different from many of the other junk meme tokens that have appeared in the past few days, with its trading volume maintaining a relatively healthy level beyond its initial opening.
Likewise, its price has fluctuated quite organically over the past couple of days, in sharp contrast to many of the other meme coins we’ve seen in recent days (which have strangely flatlined after launching, for example).
It would therefore be somewhat rash to conclude that BTC2.0 is destined to crash hard very soon, especially when it has attracted a few CEX listings.
That said, its lack of a real association with Bitcoin, as well as its lack of utility and a community, would mean that it will have to decline sooner or later.
And because it has already gained by over 7,000%, this could mean that most retail traders have already missed out on making big profits from the coin.
But the same cannot be said for certain other new meme tokens, especially those that haven’t even listed yet.
This is the case with Wall Street Memes (WSM), an ERC-20 token that has already raised more than $14 million in its presale.
What has helped WSM achieve such a raise is its association with the meme stocks movement, which was responsible for the GameStop and AMC rallies of 2021.
It’s because it has a link with this community that WSM has much better prospects than most other meme tokens being launched at the moment, with the coin also boasting over 252,000 followers on Twitter.
Promisingly, Wall Street Memes has a total maximum supply of 2 million WSM, with 50% going to the presale and 30% going towards community rewards.
This high community-focused allocation separates WSM from most other recent meme tokens, which have often fallen prey to sudden dumps and drops.
And with such a decentralized supply, WSM’s community is likely to be incentivized to support the token over the longer term, meaning that it could continue enjoying rallies well beyond its launch on exchanges.
Investors can visit the official Wall Street Memes website if they want to join the sale, with 1 WSM now available for $0.0313.
The sale will end with WSM hitting a price of $0.0337, yet it’s in a very strong position to become much more expensive once it opens itself up to trading.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
