BLUI Token is Up 10,000% Overnight and Crypto Experts Say This Lesser Known Crypto is Next – Here's Why
BluiCoin (BLUI) was one of the biggest crypto gainers yesterday, boasting an extraordinary surge of 10,016%.
At one point the meme coin was up by 21,830% when it ascended to an intraday high of $0.000000003590 before profit-taking forced its price to retreat to a closing of $0.000000001864.
BLUI's journey continues to be tumultuous today, with an additional drop of 43.27% bringing its current trading price to $0.000000001083.
BLUI Price Prediction and Technical Analysis: Examining BLUI's Immediate Trend
A look at the 15-minute technical indicators paints a challenging picture for BLUI. BLUI's 10 EMA currently stands at $0.000000001128, while the 20 EMA comes in slightly higher at $0.000000001169.
The 50 EMA, which is often used as a longer-term trend indicator, sits at $0.000000001293. Given these levels are all higher than the current price, they suggest that an immediate bearish trend is in play.
However, the trading volume and market capitalization data offer some counterbalance to this bearish sentiment. BLUI recorded a 24-hour volume of $5.06 million, indicating a significant interest in trading. Meanwhile, the total market cap hovers at $1.07 million.
Mapping Out BLUI's Important Trading Levels
Despite the prevailing bearish mood, certain levels of resistance and support could be pivotal for traders.
Imminent resistance for BLUI is found at the 10 and 20 EMA levels of $0.000000001128 and $0.000000001169 respectively.
Additionally, a significant horizontal resistance zone lies between $0.000000001237 and $0.000000001293. This zone is crucial as it aligns with the 50 EMA, signaling a potential buying opportunity should BLUI successfully remount this level.
Conversely, the current swing low support zone ranges from $0.0000000008778 to $0.000000001052. If the value declines further, the next support zone lies between $0.0000000006256 and $0.0000000007703.
As BLUI navigates through this turbulent period, traders must remain vigilant. The consistent selling pressure suggests the potential for further downward movement.
However, a shift in this bearish sentiment could present a buying opportunity, particularly if BLUI can break through the resistance at the intersection of the 50 EMA and the horizontal resistance zone.
After BLUI's massive pump, the meme coin is currently struggling to find support. Meanwhile, Wall Street Memes continues to gain momentum, raising over $25 million in presales ahead of its upcoming exchange listing.
Wall Street Memes Token Presale Attracts Over $25 Million Since Late May Launch
Wall Street Memes, a cryptocurrency inspired by Reddit's culture of meme stocks and DIY investing, has seen massive interest during its token presale period.
After a presale that attracted over $25 million in participation, Wall Street Memes is set to carry that momentum over to its September 27 listing date across major cryptocurrency exchanges.
Wall Street Memes serves as a speculative asset and a reward token for a community that aligns itself with the Reddit subculture, notably influenced by events such as the 2021 GameStop short squeeze.
Despite lacking a broader utility, meme coins have seen substantial returns in past cryptocurrency market uptrends, as evidenced by Dogecoin and Shiba Inu in 2021, and Pepe in 2023.
Wall Street Memes has gained impressive traction, amassing a dedicated following of over one million across various social media platforms.
This surge in popularity can be attributed to its successful NFT collections and witty investment-related memes.
The coin has a supply cap of 2 billion, with 50% allocated for presale buyers, 30% for community rewards, and the remaining 20% for liquidity once the token gets listed on exchanges.
How to Buy $WSM Tokens?
To buy Wall Street Memes tokens during the presale, investors need to follow a series of steps:
- Open a Crypto Wallet: MetaMask is commonly used for desktop transactions, while Trust Wallet is often the choice for mobile users. Trust Wallet is also available in a desktop version.
- Connect Wallet: After visiting the official Wall Street Memes website, investors can connect their wallets to proceed.
- Purchase Tokens: Investors can then swap Ethereum (ETH), Tether (USDT), or Binance Coin (BNB) for WSM tokens. The price of WSM will increase over time, rewarding early buyers.
- Claim Tokens: After the presale ends, investors can connect their wallets again to have the WSM tokens transferred to their accounts.
Note: Gas fees, which are transaction costs on the blockchain, will vary and need to be taken into account when purchasing tokens.
Investors should exercise due diligence and be cautious of fake domains posing as the Wall Street Memes official site.
The project emphasizes that the seed phrase of one's wallet will never be required for transactions.
Trusted crypto wallet services like Trust Wallet also offer additional security features like facial recognition for wallet access.
As Wall Street Memes concludes its presale, one of the project's biggest assets is its dedicated and engaged community of followers.
While meme coin prices are highly speculative, Wall Street Memes has cultivated an active following across social platforms, attracted by its irreverent memes.
Tapping into this thriving community could enable Wall Street Memes to transition beyond the hype and develop real value for its token.
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.