While Hong Kong Inu Rallies 50,000%, Experts Believe Wall Street Memes is the Next Crypto to Explode – Here's Why
Momentum in crypto markets shows no sign of slowing down, as Hong Kong Inu ($HONG) explodes +50,000% in earth-shattering pump dawning a return to February's Chinese narrative.
As many traders will remember, February 2023 saw a surge of interest and traction for Chinese-linked crypto projects following the seismic news that Beijing had greenlighted Hong Kong's crypto ambitions.
Major projects such as NEO (known as 'Chinese Ethereum'), Filecoin (FIL) and Conflux network (CFX) saw gains upwards of +1,000% as fever swept markets.
And now, following a high-octane meme coin season throughout April and May, which saw the likes of Spongebob token and COPIUM make equally impressive moonshot returns, it seems that the Chinese narrative is back.
Things kicked off with a whopping +20,000% pump for skyrocket CHINA coin early this week, and this was quickly followed by a moonshot for NIHAO which surged a shocking +40,000%.
Now the latest Asia themed meme coin to explode is Hong Kong Inu (HONG), a token no doubt designed to tap into the love for the iconic Shiba Inu in the crypto community.
And it is paying off, with early backers enjoying a jaw-dropping +50,000% pump last night as immense traction fuelled explosive price action.
Despite the impressive token launch, this morning has seen a -55% retracement from a local high at $0.0009287 as early backers took immediate profit on their substantial gains.
However, things might not be over just yet as a +$3m market cap holds strong, with $200k in liquidity - and strong buy pressure.
While it's hard to predict which of the many thousands of fresh-faced meme coins will be the next moonshot, powerful tools such as yPredict can enable even the newest investors to leverage AI for analytics.
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