As the crypto landscape continues to change, in recent days, Bitcoin ($BTC), along with several other cryptos, has experienced a noticeable slowdown.
This slowdown has caused waves of concern across the market, with many traders now wondering if the bullish momentum is over for the time being.
However, despite the doldrums, several new tokens are emerging, providing a silver lining.
Red week for crypto as bitcoin price stumbles
It has been a rough week for crypto traders so far, with most major coins and tokens seeing significant selling.
Bitcoin, the world's largest cryptocurrency, has seen its price drop 4% in the past day - and has now closed in the red for three consecutive days.
This surprise reversal of fortune comes after a period of sustained momentum for $BTC, which saw the coin's price skyrocket 27% over the past month.
However, this bullish momentum appears to have been halted as $BTC struggled to break above the crucial $31,000 level.
As of this writing, $BTC is retesting $30,000 – a vital psychological level that has often acted as support and resistance in previous market cycles.
If it does not hold, further downward momentum could be expected.
Market Uncertainty Dampens Crypto Enthusiasm
It's not just Bitcoin that's seeing a price drop - major altcoins like Ethereum ($ETH) are also seeing the bears take control.
The price of $ETH has fallen more than 5% from Monday's high, with the token now trading around the $1,860 level.
A quick glance at the Coin360 heatmap shows a sea of red, with big hitters like Ripple ($XRP) and Binance Coin ($BNB) also seeing a steep price drop.
It seems that uncertainty is spreading in the crypto market after the release of the Federal Reserve's FOMC meeting minutes, which indicate that another rate hike could be in the works for July.
This is bearish news for the crypto market, as higher interest rates can make riskier assets, like cryptocurrencies, less attractive to investors.
As a result, investors' funds may be redirected to "safer" financial instruments and away from cryptos, leading to a significant drop in the value of the coins/tokens.
Despite the current headwinds, many traders are still hoping for a rebound – although time will tell if they are correct in their predictions.
Which tokens are traders still bullish on?
However, not all is bleak in the crypto market, with several new projects gaining traction and turning heads.
Two such projects are Wall Street Memes and Thug Life, which are gearing up for major stock market listings once their respective pre-sales end.
Wall Street Memes Gears Up For Major CEX Listings, Hits $13.2M Presale
Wall Street Memes ($WSM) is a new meme token that aims to capture the spirit of the r/WallStreetBets subreddit and the GameStop saga, where retail investors challenged the heavy hitters of Wall Street.
The $WSM token is community-driven and aims to reward holders for trusting the Wall Street Memes brand, which is supported by over 1.1 million people worldwide.
The scale of Wall Street Memes can be attributed to the success of the Wall St Bulls NFT collection, which launched in 2021 and sold out in 32 minutes.
The popularity of the collection prompted the creators to look to the crypto market, launching $WSM and hoping to capitalize on the current coin craze.
This decision already seems to be bearing fruit, with prestigious names such as Crypto Jamie choose to join the project as a brand ambassador.
Wall Street Memes is now at stage 21 of 30 in its pre-sale phase, which has already raised $13.2 million.
Investors who enter early can buy $WSM tokens at the attractive price of just $0.031.
While the exact price of the planned CEX listing is not disclosed, it is expected that the price currently offered will be a discount on the eventual listing price.
Visit the Wall Street Memes Presale
Thug Life aims to be "Baller's Coin" and raises $600,000 in one week
Thug Life ($THUG) is another new meme token that many believe is about to explode in the crypto market.
As the name suggests, Thug Life is a project that takes on a bold and bold personality in the world of finance, which sets it apart from most other low-cap cryptos.
Thug Life's brand features a variety of well-known memes and celebrities, including Snoop Dogg and Pepe the Frog, which should appeal to a wide range of retail investors.
Not only that, but the Thug Life team encourages investors to adopt a "gangsta" attitude and "support" their gambling.
As these statements point out, Thug Life aims to fuel a community movement through humor and trolling — an approach that seems to be working, given the massive influx of new members to the official Telegram channel.
Like Wall Street Memes, Thug Life is in its pre-sale phase, which has already raised over $600,000 in just one week.
The pre-sale price of $THUG is $0.0007, fixed for the duration of the offer, ensuring that early investors can secure their tokens at a stable price.
Visit the Thug Life presale
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