The much-awaited unsealing of Hinman documents hints at a victory for Ripple (XRP) in the long-running battle against the SEC.
The documents are based on internal SEC messages concerning a 2018 speech given by former Securities and Exchange Director William Hinman. He opined earlier that while cryptocurrencies like BTC may start off as securities, they grow to resemble a commodity more as they become sufficiently decentralized.
Crypto whales, quick to act up on the news, have been pouring millions of dollars into XRP this week. A realistic target for XRP is $0.7 amid the market surge. Wall Street Memes ($WSM) and AiDoge ($AI) have also been capitalizing on the new enthusiasm in the market to draw more traffic to their presales.
Ripple price is back above $0.55
The early reaction of industry experts to the release of the documents is positive. According to Ripple CEO Brad Garlinghouse the documents are “well worth the wait.”
Wish I could go in depth now, but we’ve waited this long (18+ months), I don’t want to overstep… suffice it to say @s_alderoty and I believe they were well worth the wait.
— Brad Garlinghouse (@bgarlinghouse) June 12, 2023
Capitalizing on the growing excitement around the Hinman documents, XRP is back above $0.55 and hit $0.56 at one point. The price surge that began on 13 June 2023 is still continuing despite a small downturn. At the time of writing, the crypto is selling for $0.5305, recording a 4.95% uptick on the weekly chart. It is one of the best-performing high-cap cryptocurrencies of this week.
Crypto whales had been taking bullish positions on XRP since last weekend, anticipating positive news on the release of the documents.
According to data from Santiment, crypto whales holding 1 million to 100 million XRP bought 310 million new coins between June 10 and June 13. The significantly large amounts of investments made by whales reflect the positive outlook of the market and the growing confidence in the project’s future.
Widespread social media reaction is due
Although whales have been pouring in money to XRP over the last three days, the larger market has yet to react to the news and take action. Once more industry analysts and social media influencers come out sharing their opinions about the development and which direction it can take, the price of XRP is expected to take off.
An ambitious target for XRP in the coming two weeks is $0.85 before it settles down to $0.7. But a more accurate prediction needs to factor in the broader market climate and how quickly it rebounds from the recent downturn triggered by the SEC lawsuits against key exchanges and assets.
The majority of the market is perking up on the daily charts, despite the crash over the week.
Date: 13 June 2023, Source: CoinMarketCap
Investors are betting big on presales, however
While a small yet significant upturn is due for high-cap cryptocurrencies, most investors are plowing their money into crypto presales and underrated cryptocurrencies instead. That makes sense since the best that high-cap cryptos can give is 30-40% returns whereas promising presale cryptocurrencies can go anywhere up to 30X.
Listed below are some of the hottest crypto presales of this season that have large growth potential in 2023.
Wall Street Memes – Meme coin presale everyone’s raving about
The Wall Street Memes (WSM) presale is creating a lot of buzz as investors eagerly acquire the tokens in anticipation of a bull run later this year. Paying no heed to the broader market setback, the presale continues to gain momentum, with over $6.5 million already raised.
The meme coin presale has emerged to be a safe haven during challenging times as investors are apprehensive about pouring more money into saturated high-cap assets. The key driving force behind the success of the presale is its dedicated community. The Wall Street Memes token is an extension of a well-known online community, which has caught the attention of tech mogul Elon Musk.
His interaction can’t alone explain the grand reception of the meme coin presale. There are clearly other factors at play. To begin with, Wall Street Memes possesses all the right ingredients to ignite the next meme coin frenzy. In fact, leading crypto publications predict potential gains of 20X to 30X in its initial days.
But there is a crucial question that remains: Can Wall Street Memes sustain its position on the meme coin chart without any market-relevant utility?
An examination of the $WSM tokenomics reveals that it can achieve this feat, although the phenomenon is uncommon in traditional investment markets. That’s just how meme coins work. The stupefying success of DOGE, SHIB, and PEPE are shining examples. While Pepe has phased out, Wall Street Memes has a long-term vision that will anchor its position in the market in the coming years.
It has set aside a significant 30% of its token supply for community rewards, including attractive giveaways and airdrops. Currently, a giveaway is live, offering $50,000 in rewards.
These contests motivate investors to hold onto their tokens despite market fluctuations, ensuring a healthy market cap for the project. So, the prediction that Wall Street Memes could potentially secure a spot among the top three meme coins, even surpassing Pepe, is well-justified.
However, reaching the first or second position is a long shot for the project. Despite its robust foundation and support from a thriving online community, it will be difficult to dethrone Shiba Inu and Dogecoin from the top positions. But Elon Musk’s active engagement with the community will help the project go on multiple bull runs even after the initial euphoria dies down.
You can participate in the Wall Street Memes presale to secure the tokens at discounted prices before they are listed on exchanges. The presale consists of thirty stages, gradually increasing in price until it hits the hard cap of $30,577,000. Therefore, early participation gets you better deals.
The AiDoge explosion is just around the corner
AiDoge completed its meteoric presale a few days back, raising its goal of $14.9M ahead of schedule. The project is now selling the token for the listing price before its exchange launch scheduled for June 19th. $AI tokens are trending across social media platforms as it is predicted to go anywhere from 10X to 15X in the coming days.
AiDoge is a meme coin underpinned by meme coin utilities. The project’s key highlight is its utility-first direction, despite being a meme coin project. While most meme coins tend to be ‘useless’ or ‘purposeless’, apart from growing the wealth of investors, AiDoge tokens allow users to create memes using its meme generation platform. It is AI-powered and taps into a large data set of memes and crypto news to generate time-relevant memes within a few clicks.
You will need the tokens to purchase credits in the ecosystem, which will give you access to various features of the tool. While meme generation may seem like a silly use case, it has high relevance among the young generation, who also happen to be speculative traders. More importantly, the project is designed to be viral, by integrating meme utilities into its design.
With the exchange launch scheduled for 19th June, $AI is awaiting a large explosion in a few days. To avoid FOMO, investors can still buy the token at the listing price from the official website.
If you’re not interested in meme coins, check out yPredict instead
If you’re not a huge fan of meme coins, here is another excellent option – yPredict. It is a utility token that restores the statistical edge of the crypto market. As the native cryptocurrency of an AI-based marketplace for crypto price predictive models designed by top AI experts, quants, and analysts, yPredict has high long-term relevance.
You can use the token to access the following features:
- AI Signals – real-time trading signals from cutting-edge predictive models by the top 1% AI experts.
- Sentiment Analysis – Real-time sentiment analysis on all popular crypto coins.
- Technical Analysis by AI – Let AI find the most effective indicators for your asset.
- 25+ Chart Pattern Recognition – Let AI detect the most promising chart patterns on your shortlisted coins
yPredict is also a strong candidate for the top-100 chart this year, if the product lives up to the expectations of users.