$420CHAN token surges 40,000% after going viral. Crypto whales accumulate Wall Street memes before listing on exchanges.

New meme coin 420CHAN ($420CHAN) has been experiencing significant price increases over the past 24 hours. The ERC-20 token was initially launched on June 21 but has recently gained the attention of traders.

420chan is a reference to an anonymous imageboard founded by Aubrey Cottle in 2005, which eventually transformed into a slang word associated with cannabis and drug culture.

420CHAN token blows up

In the past two days, the price of $420CHAN has seen two significant spikes, as shown on the chart above.

Although bullish trends may be taking a pause now, they could potentially return in the future.

This sudden increase in price is likely influenced by its association, intentional or unintentional, with the $4CHAN token, which has recently attracted strong buyer interest. 4Chan is an unmoderated messageboard platform.

79% of the token’s $97k liquidity has been locked for 35 years, although the volume has now slightly decreased to $781k.

Can 420CHAN continue its surge?

It is uncertain whether $420CHAN can sustain its price momentum. With only around 600 coin holders, the stability of its price progress so far may be uncertain.

Given the token’s rapid rise, it is highly likely that a significant correction may occur as traders decide to take profits and exit their positions.

Furthermore, it is worth noting the behavior of crypto whales, who are currently showing a preference for another meme coin called Wall Street Memes (WSM).

This indicates a shifting focus among crypto enthusiasts towards alternative opportunities within the meme coin market.

Whales are focusing on Wall Street Memes ($WSM)

Wall Street Memes, a meme coin inspired by the WallStreetBets subreddit’s battle against institutional investors, has already generated significant attention even before being listed on exchanges.

Currently in its presale phase, WSM tokens are available for purchase at a price of $0.0304 each. The project has already raised over $11 million in funding, demonstrating strong investor interest and enthusiasm.

Investors still have the opportunity to buy WSM tokens at the current price for another day and a half before it increases to $0.0307 per token. The tokens can be purchased using ETH, USDT, or card payments.

WSM already has a highly engaged community of one million members

WSM already has a strong existing community, with approximately one million members, half of whom are on Instagram and a quarter of a million on its official Twitter account.

WSM aims to accomplish for crypto what it has done for stocks as ‘The King of Stonks’, and it has the support of the community to succeed.

It’s no wonder that some analysts are predicting $WSM to experience significant growth when it is listed on decentralized and centralized exchanges.

Lastly, it should be mentioned that Elon Musk has interacted with WSM on Twitter in the past. In the world of meme coins, having that kind of reach is highly valuable, so don’t be surprised when $WSM experiences a significant increase in value.

Buy WSM Here

Disclaimer: The Industry Talk section features insights from crypto industry players and is not part of the editorial content of blockchain.com.

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