by • Elon Musk’s recent tweet linking Dogecoin to Twitter’s new symbol “X” has sent the coin’s price soaring by 16%.
• The buzz around Wall Street Memes ($WSM), continues to grow, hinting that it could be the next meme coin to explode.
• Dogecoin is now hovering around its highest value in early May, at $0.080.
Dogecoin Price Surges After Elon Musk Tweet
Yesterday, a tweet from billionaire Elon Musk linking Dogecoin ($DOGE) with Twitter’s new symbol “X” sent the coin’s price soaring by 16% over the last week. This sharp rally was triggered by Elon Musk, who reposted a promotional video of Twitter’s new “X” logo, initially shared by a Dogecoin designer. Not only that, but Musk subtly included the Dogecoin symbol in his Twitter bio. Unsurprisingly, this has reignited the rumor that Dogecoin could be integrated as a mode of payment on Twitter which has been making rounds ever since Musk bought the social media giant. As a result, Dogecoin is now hovering around its highest value in early May, at $0.080 – 50% higher than its June 10 low .
Wall Street Memes Potential New Contender
The buzz around Wall Street Memes ($WSM) continues to grow and hints that it could be the next meme coin to explode onto the scene. The crypto asset was created by traders on Reddit’s WallStreetBets forum and aims to provide users with an opportunity to invest in meme stocks without risking their capital due to its decentralized nature. With its popularity rapidly rising on social media platforms such as Reddit and Discord, there is potential for WSM to become one of cryptocurrency’s most valuable meme coins yet .
Musk and Crypto
Elon Musk has long been involved with cryptocurrencies and blockchain technology – he even accepted Bitcoin (BTC) payments for Tesla vehicles earlier this year – so it should come as no surprise that he is once again driving hype behind another digital asset project . His involvement will likely continue to drive further interest towards both DOGE and WSM in particular – something which investors should keep an eye on over the coming weeks .
Open Interest Metric Points To Flourishing Market
Open interest metrics also point towards a flourishing market for DOGE and WSM alike; with open interest levels reaching all-time highs as more traders begin speculating on their future prices. As such, these two meme coins have seen significant growth over recent weeks – though whether or not they can sustain these gains remains unclear .
Conclusion
It appears that there is still plenty of potential within the cryptomeme market for some exciting projects; with both DOGE and WSM continuing to gain traction amongst investors thanks largely due to their backing from high profile figures such as Elon Musk . However , it remains uncertain whether either of these digital assets can maintain their current momentum ; something which may depend heavily upon any upcoming announcements from those behind them .
