Click Here To See The Best Crypto Presales That Could Increase 10x This Year!
The current ups and downs in the crypto markets are reminiscent of the bad memories of May 2022, when the Terra/Luna cryptocurrency crashed. Back then, the markets were already at a stalemate, and just as you thought the market would recover, crypto exchange FTX went bankrupt. The two remaining cryptocurrencies, LUNA and LUNC, are a rather disgruntled crypto world and an SEC (American Securities and Exchange Commission) which has now filed several lawsuits. Also against Do Kwon, the founder of Terra Labs.
Flashback: This happened with Terra/Luna
In the first quarter of 2022, the crypto world still looked rosy. But then May came and literally made everything new – especially crypto courses. However, it’s probably not in the direction many investors want. Because the courses partially fell into the abyss.
The LUNA stablecoin UST dissociated itself from the dollar almost overnight, thus pulling LUNA into a bearish spiral. Terra Labs then sold large Bitcoin holdings to stabilize the currency again, and the BTC price also plummeted.
But Terra/Luna inventor Do Kwon didn’t want to give up “his” cryptocurrency so quickly, and then a hard fork ensued. Since then, there have been two Luna cryptos. LUNA (new coin) and LUNC (old Terra/Luna).
Terra/Luna Prognosis – Can LUNC return to its former glory?
To get straight to the point – a reliable estimate is not possible for two reasons. On the one hand, cryptocurrencies are extremely volatile, as the year 2022 clearly shows. On the other hand, LUNC, the “former” Luna, has clearly lost investor confidence. The price is currently at $0.00009358, light-years away from the all-time high of $120 to say the least. Things aren’t looking too well with the “new” LUNA either. Currently, the rate here is $0.7528. It is important to regain lost trust, especially in the short and medium term. One positive thing for the project could be that it has its roots in the DeFi industry. Additionally, Terra has now launched the Enterprise Protocol and introduced a DAO. So the future of Terra Luna remains exciting – and there are some pretty optimistic forecasts for the coin.
LUNA 2.0 should read LUNA as zero.
— il Capo Of Crypto (@CryptoCapo_) 8 June 2022
Whether or not you buy LUNA now depends on each individual and, of course, their willingness to take risks.
Do Kwon and the SEC
Terra/Luna founder Do Kwon was arrested after escaping to Montenegro and is currently in prison. Both the United States and South Korea demanded his extradition, and unsurprisingly, the U.S. Securities and Exchange Commission sued for alleged asset fraud. Kwon’s lawyers objected and asked the presiding judge to drop the case.
Is it Shitcoin time?
However, there are cryptocurrencies that are relatively unaffected by current market developments. These include the so-called “Shitcoins”. At this point, it is necessary to clarify the following question first: What are Shitcoins actually? The term can be interpreted differently in the crypto world. On the one hand, this usually means cheap and little-known cryptocurrencies. On the other hand – and this is the disparaging version – worthless coins. The most famous Shitcoins are probably DOGE and SHIB.
So we’re talking about meme coins, and fun currencies have had an unexpected resurgence this year. Pepe Coin started it all. The meme coin with the frog appeared almost overnight and literally exploded. Coins such as Milady, TURBO or NOMEME followed Pepe.
Breast coins with explosive potential
Meme coins continue to be popular with crypto investors and new coins are starting to conquer the hearts and wallets of investors.
If there was one pre-sale that left everyone in a cloud of dust in the recent past, it was AiDoge.com. All pre-sale phases of the AI token were completely sold out in a very short time. Currently, the coin can be purchased for $0.0000336 until it is listed on the first exchanges in mid-June. AiDoge.com combines an exaggerated topic with an ever-present topic on the internet: AI (artificial intelligence) and memes.
Reviving funny crypto memes has never been easier! 🐶🔥
Aidoge’s AI powered meme generator will craft the perfect memes for any occasion.
— aidgecrypto (@aidogecrypto) 7 June 2023
Meme to win success concept
With the AI-controlled meme generator, platform users can create funny and individual memes by entering text. These memes can then be posted on the project’s public wall. The community then votes for their favourites. Winners then receive prizes in the form of AI tokens. Instead of playing to win, AiDoge.com offers users memes to win. The leaderboard is reset regularly to give all meme creators a chance.
Wall Street memes
Wall Street Memes have its roots in the Wallstreetbets subreddit, the forum that taught Wall Street to fear and replaced it with Melvin Capital in 2021 with a hedge fund (the hedge fund has since been liquidated). In 2021, the company Gamestopp was struggling to survive and stay on the American stock market index. Hedge funds, on the other hand, bet on falling share prices and did not take into account players, nerds and small investors. They agreed to buy shares in Wall Street Bets and briefly pushed the price above $300. The rest is history. This move led to the emergence of Wall Street Memes, which are now launching their own crypto token, WSM.
Elon Musk also noticed
What WSM has in common with all other meme coins is that the coin is of no use at all. But the creators of the cryptocurrency are also completely transparent about it.
“Greed is good,” says the project’s home page. By the way, this is a movie excerpt from the cult movie “Wall Street”. That’s what Gordon Gecko (Michael Douglas), who makes a fortune selling worthless stocks in the movie, said. Meme coins are essentially “worthless” and yet many small investors got rich overnight. The website continues, “Join the WSM Army today and prove that greed really is good.”
When you continue to invest in crypto while the SEC sues Binance and Coinbase pic.twitter.com/csdsyovISm
— Wall Street Memes (@wallstmemes) 7 June 2023
The price of a WSM token currently available for purchase on PreSale is currently $0.0277. Meanwhile, the team behind WSM is not unknown in the crypto universe. Also in 2021, Wall Street Memes published a limited number of 10,000 copies sold out in 32 minutes. Bulls released the NFT collection. Confessing to be a fan of the meme coin, Elon Musk has already interacted with Wall Street Memes on Twitter, and the pre-sale of the coin has accelerated accordingly.
Last updated on 7 June 2023
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Cryptocurrencies are a highly volatile, unregulated investment product. Your capital is at risk.