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Crypto Prices Recover – Bitcoin Up 3%, $WSM Hits $4.8 Million

4 mins
Updated by Maria Petrova
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After a sharp drop following the SEC’s lawsuit announcements earlier this week, the crypto market has started to recover, with Bitcoin soaring by 3% in 24 hours.

Other major altcoins, like Ethereum and Solana, also saw an uptick in price – highlighting the remarkable resilience shown by the crypto industry amidst regulatory challenges.

In other news, presale sensation Wall Street Memes continues to wow investors, surpassing the $4.8 million mark in its highly-successful presale phase.

Crypto Market’s Strong Rebound Highlights Remarkable Resilience

The SEC’s lawsuits against Binance and Coinbase shook the market this week, causing fear and uncertainty throughout the investment community.

These lawsuits underline the SEC’s hard-line stance on cryptocurrency exchanges within the US, with regulatory scrutiny ramping up following the collapse of FTX.

The decision by the SEC to target Binance and Coinbase has been controversial, with many crypto traders highlighting that the short-term disruptions to the market could be causing more harm than good.

Nevertheless, the sharp price drop that followed the announcement of these lawsuits has largely been erased, with Bitcoin returning to the $26,900 level.

Given this rapid recovery, many prominent names in the crypto industry were speculating that things are now looking up. Michael van de Poppe, CEO of MN Trading, tweeted that the likelihood of the recent drop being the low of the correction has increased “substantially.”

Moreover, Bitcoin has broken above the 20-day and 50-day Exponential Moving Averages (EMAs) – potentially setting the stage for further price growth.

Encouragingly, the Crypto Fear & Greed Index has also swung back to “Neutral,” meaning that investors are no longer dominated by fear.

However, it’s not just Bitcoin that’s been making a comeback, with the heatmap from Coin360 showing a sea of green that will be welcome viewing for altcoin investors.

Coin360 data also reveals that the total crypto market cap has risen 3.15% in the past 24 hours, evidencing the general uptick in crypto-asset prices.

Overall, despite the regulatory challenges, the quick recovery of Bitcoin (and other coins) underscores the incredible resilience of the crypto market.

New Meme Token Wall Street Memes Nears $5 Million in Presale, Stirring Up the Crypto Scene

While the crypto market has been in recovery mode, the presale phenomenon Wall Street Memes ($WSM) continues to turn heads – breaching the $4.8 million funding milestone.

The Wall Street Memes community began gaining traction following the blockbuster success of the Wall St Bulls NFT collection in 2021, which sold out in 32 minutes and raised $2.5 million.

These NFTs have remained popular, with OpenSea reporting that 1,864 ETH worth of the assets has been traded in the past two years – equating to over $3.5 million.

Now, the team behind Wall Street Memes is looking to give back through the release of the $WSM token, which will allow holders to benefit from the continued evolution of the community.

The rise of Wall Street Memes signifies a changing trend in the crypto landscape – one where development teams aim to empower the community that helped bring the project to fruition rather than themselves.

This is demonstrated by the fact that Wall Street Memes’ team hasn’t reserved any presale tokens for themselves. Moreover, there was no private sale before the presale kicked off, meaning the community still holds all the power.

Per the project’s whitepaper, this setup could prove pivotal since the team plans to form strategic partnerships with major influencers in the crypto industry and secure listings on top-tier CEXs.

Early investors can buy $WSM tokens through the presale for just $0.0277. However, only two million tokens are reserved for each presale stage – once they’re depleted, the token price will increase in subsequent steps.

Visit Wall Street Memes Presale

AI-Powered Meme Coin AiDoge Takes World By Storm After Raising $14.9m

It’s not just Wall Street Memes making headlines – AI-powered meme coin AiDoge ($AI) has also attracted significant attention.

The AiDoge project has been an instant hit with the investment community due to its innovative use of artificial intelligence for meme generation and curation.

This setup brings a new level of interactivity and novelty to the meme coin niche – which is why the AiDoge presale sold out in record time and hit its $14.9 million hard cap.

Aside from its AI-powered meme generation features, AiDoge also has built-in community-driven utility in the form of the “public wall.”

Through the public wall, users can vote on the best memes created by other AiDoge users. The creators of the memes that receive the most votes will be rewarded with $AI – AiDoge’s native token.

Although the project is still in its early stages, this pioneering setup has piqued the interest of investors worldwide, leading to over 20,000 people joining the official Telegram channel.

Although AiDoge’s presale has ended, the project’s developers are offering one final chance for early-bird investors to purchase $AI tokens ahead of their debut on exchanges later this month.

Currently, $AI can still be bought for $0.0000336 – the same price that the tokens will be listed.

Visit AiDoge Website

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