The crypto market is no transfer to hype-driven price increases – and the $XXX token is the latest to benefit from this phenomenon.
The price of $XXX has rocketed over the past day, earning it a spot among the top five trending tokens on DEXTools.
However, investors are also keeping a close eye on the meme coin project Wall Street Memes, which could be the next token to soar as it nears the end of its highly-successful presale phase.
$XXX Token Capitalizes on Elon’s Buzz to Soar 7,200%
The recently-launched $XXX token aims to capitalize on the hype surrounding Elon Musk and his numerous companies.
Born out of Musk’s move to consolidate his holdings into “X Holdings,” $XXX brands itself as a project that looks to benefit from the social media buzz around companies like Tesla, SpaceX, Neuralink, and Boring Company.
Per $XXX’s official website, this ERC-20 token will allow holders to benefit from the innovations and influence of Musk’s empire.
However, details are scarce on the token’s specific use cases – although there will be a 1% tax on buy and sell transactions.
Predictably, $XXX’s value has rocketed following Elon Musk’s decision to rebrand Twitter as “X”, largely due to its matching ticker symbol.
According to DEXTools, a whopping $8.24 million worth of $XXX has been traded in the past 24 hours, pushing the token’s market cap to $2.47 million.
More importantly for early investors, $XXX’s price is up over 7,200% since its Uniswap debut yesterday – making it one of the “biggest gainers” on DEXTools.
The token’s exponential price rise has also translated into social media growth, with the official $XXX Twitter account seeing thousands of new followers in the past day.
Whether this meteoric growth is sustainable or just a short-term phenomenon driven by Musk’s latest antics remains to be seen.
However, if $XXX can use its moment in the spotlight to differentiate itself with real utility, it could cement itself as more than just another meme coin.
Which Token Could Be Next to Trend?
With traders continually on the lookout for the next breakout meme coin, focus is now shifting towards Wall Street Memes ($WSM).
This brand-new token has raised over $18.1 million during its presale phase – and is gearing up for major CEX listings soon.
Wall Street Memes’ Presale Success Hints at $WSM Being a Breakout Star
Thanks to the incredible response to its ongoing presale, Wall Street Memes is quickly emerging as a serious contender in the meme coin space.
Much of this response can be attributed to the strength of the Wall Street Memes community, which comprises over 1.1 million meme enthusiasts and investors.
This community not only fosters a sense of camaraderie but also works as a key driver in raising Wall Street Memes’ online profile and fuelling demand for $WSM.
Adding to the hype around Wall Street Memes is the fact that the project has already caught the attention of Elon Musk – albeit indirectly.
In March, the billionaire tech tycoon replied to a meme from Wall Street Memes’ Twitter account, boosting its brand appeal.
Thanks to this interaction with Musk and the brand’s colossal community backing, Wall Street Memes has positioned itself as a potential star in the meme coin market.
At the time of writing, interested investors can buy $WSM through the ongoing presale, with tokens available for just $0.0325.
However, the project is now in Stage 26 out of 30, meaning there’s only a narrow window for investors to get involved before $WSM makes its open market debut.
As such, with a growing community, high-profile attention, and its forthcoming CEX debut, Wall Street Memes could be poised to match (or even exceed) the gains seen this week with $XXX.
Visit Wall Street Memes Presale
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