Pepe (PEPE) has seen significant price fluctuations in 2023, rising exponentially throughout April and May before dropping 85% in the following months.
With PEPE now hovering around the $0.00000062 level, some investors have speculated that the coin may still be overvalued relative to its peers in the meme coin market.
As such, many meme coin enthusiasts have been turning their attention to Wall Street Memes (WSM) – a new low-cap meme coin that has been making waves during its limited-time presale phase.
Pepe’s Volatile Price Leaves Questions Around Its Valuation
Pepe saw an enormous price rise during the first half of 2023, surging from its all-time low price of $0.0000000276 on April 17 to a peak of $0.000004354 on May 5.
This rally captured the attention of retail investors globally, positioning PEPE as one of the world’s largest meme coins (as measured by market cap).
However, PEPE then experienced a dramatic 85% price drop over the next four months as investors opted to sell off their holdings – causing a bearish snowball effect.
PEPE’s dramatic decline has led some crypto analysts to speculate that the token may now be overvalued relative to other meme coins with lower market caps.
For example, crypto influencer CryptoGodJohn recently tweeted, “A lot of coins that have a $10-50m market cap will be multi-billion dollar market caps in 2025.”
This statement indicates that lower-cap meme coins could outperform PEPE in future market cycles.
While PEPE remains one of the most prominent meme-based cryptos, its recent volatility and potential overvaluation signal that undervalued coins may present better upside potential in the future.
Wall Street Memes Gains Steam as an Emerging Low-Cap Crypto Gem
As PEPE navigates ongoing investor uncertainty, investors have begun turning to new and innovative low-cap cryptos with room to grow.
One such project is Wall Street Memes (WSM), which has quickly emerged as a viral presale project that thousands of investors are discussing.
WSM is the native token of the Wall Street Memes brand, with over one million social media followers worldwide.
A sizable 50% of the total WSM supply has been set aside for the ongoing presale phase, ensuring early backers have a significant stake in the project’s future.
With this presale set to conclude on September 25 and Tier-1 exchange listings slated for September 27, the hype is growing steadily around WSM.
The project has already raised over $25 million in funding and attracted investment from prominent crypto influencers like Crypto Dose.
WSM’s Fundamentals Position It as New Meme Coin Contender
As CryptoGodJohn’s previously-mentioned tweet indicates, new low-cap cryptos like WSM can often see their valuations balloon rapidly.
WSM’s tokenomics, unique branding, and built-in staking protocol make it a prime breakout candidate in the meme coin space in the eyes of most presale investors.
With WSM still in its presale stage and available for just $0.0337, the token remains undervalued, relative to larger meme coins like PEPE.
Additionally, unlike PEPE, Wall Street Memes has real-world utility and an already-established community, which should give it a leg up compared to other new meme coins entering the market.
WSM is also ranked first on CoinSniper’s list of upcoming exchange launches, indicating a high level of interest from the wider crypto community.
Tech mogul Elon Musk has even interacted with Wall Street Memes’ socials on multiple occasions, fueling speculation about WSM’s potential for mainstream adoption.
Overall, the future looks promising for Wall Street Memes – suggesting that WSM could be a potential breakout star in the meme coin space.
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