PENGU and SPX6900 Prices Rise Despite Market Crash as New Meme Wall Street Pepe Coin Raises $35 Million

Christmas seems to have come early for bitcoin and ethereum bears, as both leading crypto assets have fallen in recent days. btc has fallen almost -13% since December 17, while eth has fallen a similar amount, approximately -15%.

Most altcoins have suffered more challenging fates, with many tokens dropping -30% or more in recent days.

However, as the saying goes, it's time to buy when there is blood on the streets, and this is also a key time to find high-performing cryptocurrencies that continue to thrive even when the market panics. PENGU (the official token of the Pudgy Penguins nft project) and SPX6900 (a meme coin satirizing the S&P 500) are two such examples.

Both meme coins have seen strong rises on the daily charts, while another new token called Wall Street Pepe is drawing attention after reaching the $35 million mark in its ongoing pre-sale.

More successes for PENGU?

Riding off the incredible global success of the Pudgy Penguins nft collection (a crypto-native project that has become a mainstream entertainment brand), the PENGU token has been the subject of some controversy. As soon as the token launched on December 17, the floor price of the Pudgy Penguins nft collection plummeted by more than 50%, erasing the huge price gains the collection had achieved since the early days of this month:

Given that the value of nft collections depends in part on exclusive access to a brand, and the introduction of the PENGU token now means anyone can invest in Pudgy Penguins at a more affordable price level, this precipitous drop is understandable.

However, the PENGU token is making significant moves in the right direction, breaking out of a descending triangle chart pattern. PENGU is up more than 30% in the last 24 hours alone.

As we will see in the price chart below, the key resistance level for PENGU ($0.07) is approximately double the current price of the token:

This looks like the start of a potential rally for PENGU, which is already a fantastic achievement under current market conditions. Time will tell exactly where the price action goes from here, but at least PENGU holders have not been left on the sidelines.

<blockquote class="twitter-tweet”>

He <a target="_blank" href="https://twitter.com/search?q=%24PENGU&src=ctag&ref_src=twsrc%5Etfw” data-wpel-link=”exclude” target=”_blank” rel=”nofollow noopener noreferrer”>$HOSTAGE prophecy roadmap

I don't make the rules

GCR does it pic.twitter.com/3O3lttbXHB

– Lord Durden (@LordDurden) <a target="_blank" href="https://twitter.com/LordDurden/status/1871335848148668423?ref_src=twsrc%5Etfw” data-wpel-link=”exclude” target=”_blank” rel=”nofollow noopener noreferrer”>December 23, 2024

SPX6900 also on the rise

While PENGU tries its best to take off, SPX6900 continues to consolidate as bullish signals begin to emerge. The token is up more than 20% in the last 24 hours, but the overall picture is better shown in the chart below:

Symmetrical triangle chart patterns are usually considered ambiguous rather than bullish, but in this case, we can see a recent deviation below the green diagonal support line. This indicates a bullish resurgence, which catapulted the price to its biggest rise since late November.

<blockquote class="twitter-tweet”>

Buy and hold <a target="_blank" href="https://twitter.com/hashtag/SPX6900?src=hash&ref_src=twsrc%5Etfw” data-wpel-link=”exclude” target=”_blank” rel=”nofollow noopener noreferrer”>#SPX6900

He still has 200x in the tank.

yes, i'm serious

Put 3-5% of your portfolio in it and hold it for 1 year

You will beat 99% of your bets with much less stress

Thanks later pic.twitter.com/1hvMYOUKVe

—Murad (@MustStopMurad) <a target="_blank" href="https://twitter.com/MustStopMurad/status/1861727270508900544?ref_src=twsrc%5Etfw” data-wpel-link=”exclude” target=”_blank” rel=”nofollow noopener noreferrer”>November 27, 2024

Since that point of deviation, the price of the SPX6900 has remained volatile, suffering another drop, followed by another rise. This is definitely not a sign for the faint of heart, but many investors and traders will still find it preferable to the bearish price action currently affecting most of the crypto market. $1 remains the most important resistance point for SPX6900 investors to target, and if we move towards a lower time frame, we will find other interesting information:

Even on the one-hour chart, SPX6900 has formed another symmetrical triangle indicating bullish strength. Price is also consolidating below a possible breakout level, and the current chart pattern has a deadline to resolve exactly at the point where 2024 ends and 2025 begins, right until midnight.

While SPX6900 remains volatile, an interesting pre-sale of meme coins has emerged in recent weeks that some investors have been quick to participate in.

Pepe pre-sale on Wall Street reaches $35 million: the next blockbuster Meme coin?

While so many cryptocurrency traders and investors have been battling the market in recent weeks, Wall Street Invitation ($WEPE) has been breaking records. Its recently launched pre-sale has reached $35 million in about just 3 weeks, making it one of the fastest growing ICOs right now.

This new and exclusive meme coin project will give token holders access to trading insights, strategies, and special alpha calls that could increase their chances of making better trading and investment decisions.

By joining the WEPE community, everyday traders, often considered the “fish” at the mercy of big whales and major institutions, can empower themselves and equip themselves with everything they need to get ahead and win.

Token holders will also be able to participate in weekly trading competitions, join the WEPE Army (a private group of experts), and stake their WEPE tokens to generate passive income with impressive APY rates (currently 37%).

Frog meme coin projects like Pepe and Turbo have already achieved explosive success, and many investors seem to believe WEPE could be next.

Visit Wall Street Pepe Presale

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