Best Meme Coin Investment For 2023: Caged Beasts & Wall Street Memes Shines While PepeCoin Wilts Under Pressure
The meme coin space is the most crowded niche in the crypto world and is a space where incredible price climbs happen, minting millionaires overnight. But it is vital to spot projects that have potential from those that might well be money sinks.
This article will look to explore the best meme coin investments for 2023. It will look at the rising star of crypto, Wall Street Memes (WSM), the falling fortunes of PepeCoin (PEPE) and Caged Beasts (BEASTS), a project that can transform the meme coin landscape. Read on to find out more about the happening world of meme coins.
Wall Street Memes Banks on NFT Success to Soar
Wall Street Memes gained huge attention from investors with its record-setting presale, which pulled in nearly $7 million within a few days. The project’s presale has managed to raise a sizable community around it, with more than a million followers on social media. The network has plans to shore up its value with partnerships with influencers, CEX listings and awareness campaigns.
The project isn’t entirely a newcomer to the blockchain space, with the Wall St Bulls NFT collection. The collection was hugely famous when it sold out its collection in under an hour and raised more than $1 million in the sale. This background positions WSM on track to success in the meme coin space.
Lack of Utility Comes to Hurt PepeCoin
The story of PEPE, a meme coin inspired by Pepe the Frog meme, is one of gloom with the token’s drastic fall in value. Its market capitalisation has plummeted from $1 billion to $382 million within a few weeks. The primary reason behind PEPE’s fall is its lack of utility and the absence of any plans to build utility.
Even PEPE’s team acknowledges the absence of utility, stating that the project was created as a joke. Adding to the trouble, the network is racked with centralisation, with only a select few wallets holding PEPE tokens worth over $1 million. Consequently, the token’s value becomes hostage to the actions of these wallet holders, causing a downward spiral that appears challenging to recover from.
Caged Beasts: The Best Meme Coin Investment of 2023?
Caged Beasts is in its presale and has captured the market’s attention. The project’s novel referral program offers deep utility to its holders. The project assigns unique referral codes to its holders. When someone makes a deposit in the Caged Beasts network using a code, the code’s owner instantly receives 20% of the deposited amount in ETH, BNB, or USDT. The new investor is also rewarded with a sweet 20% bonus on their purchase of BEASTS.
Transparency is also a core value in the Caged Beasts project. The project has openly disclosed its liquidity policy. With 75% of tokens reserved for the presale and the remaining portion dedicated to marketing, this project showcases a promising structure and potential for success.
The Final View
Meme coins have weathered multiple storms in the market and have maintained their allure with their high volatility, which has given them the potential for steep price climbs. Pepe’s fall from grace stands in direct contrast to the success of the Wall Street Memes and also the budding success of the Caged Beasts project. The project’s lucrative referral scheme and emphasis on transparency makes it the best meme coin investment of 2023.
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About The Author
Editor in Chief at ATZCrypto. He is Passionate in covering Crypto News, Market Data and Technical Analysis.
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