Exploring The Hype Behind Baby Shiba Inu And BabyShia Newest Meme Coin Clones Trend Top On DEXTools

Two of the ones trending on the site at the moment are Baby Shiba Inu (BABYSHIB) and BabyShia (BABYSHIA). In fact, both are in the top 5 of DEXTools Hot rankings. Does this mean a new trend of baby clone coins is about to hit the crypto market?

It is unlikely as we predict these coins will fade as fast as they arrived. However, there are some great meme coins going through the more solid route of presale fundraising before their listings begin. Two of the best are Wall Street Memes ($WSM) and Sonik Coin (SONIK). The presale tactic adds a layer of security and trust between investor and project so you can feel more safe with your investment.

Both these projects have a lot more than just that going for them, so let’s look at both in more detail.

Wall Street Memes- Only 4 weeks until much-anticipated listings begin

One of the most hyped crypto presales of this year is finally into its final stretch. Wall Street Memes ($WSM), has raised well over $25 million and we are now just 4 weeks away from CEX listings beginning. This is arguably the most anticipated listing the meme coin sector has ever seen and a lot of that comes from the huge online presence the brand has.

In 2021 a group of Redditors decided to band together and take on Wall Street. They did this by purchasing in bulk stock of brick and mortar companies that had been written off and thus were being shorted by hedge funds. The movement gained international headlines and they even managed to force one major Wall Street hedge fund to declare bankruptcy.

From this anti-bank movement Wall Street Memes were born. Their social media accounts have a combined following of over 1 million followers and they tend to produce financial content through a humorous lens. These accounts have grown since $WSM launched its meme coin project and they play a vital role in how the coin does once listings begin.

There have been many good omens that indicate that Wall Street Memes may be destined to be the future number one meme coin. One of them was a crypto whale purchasing $1 million worth of $WSM. The whale initially purchased $160,000 worth of the meme coin before coming back later in the presale and purchasing the final $840,000 worth of $WSM by using ETH and five different wallets.

As we mentioned the meme coins' huge online following will likely contribute to its success but during the presale it was also confirmed that the 30% allocated to community rewards would include staking. Around 240 million tokens have already been staked which roughly translates to 84% APY. This utility really just rounds off the project and in our opinion makes it a must have.

>>>Buy Wall Street Memes Now<<<

Sonik Coin- The fastest meme coin rockets toward $700,000

As you may have guessed Sonik Coin (SONIK) is inspired by the video game character from SEGA who is best known for his lightning fast speed. Well, SONIK is just as fast, physically at least. If you take a look at the hilarious and original artwork on the site, you will know what we mean when we say he may not be as fast upstairs.

Sonik Coin is likely inspired by Pepe Coin but it has a lot more depth to its project. Not only is SONIK an original creation but despite being a meme coin the project will have a lot of utility. It is said the SONIK can travel the speed of light, 299,792,458,000 m/s, and that is the exact quantity of coins that are available. A whopping 40% of this total will be allocated to staking which will not only add a firm foundation but also give investors a chance to earn a passive income.

Staking and meme coins don’t normally go together but it is the perfect plan. Meme coins are the most volatile sector of the crypto market and what combats volatility? Investors holding on to their purchased tokens. If they are likely to be rewarded for doing this they are much likely to hold on to the tokens.

Considering the APY stands at 99% at the time of writing we think this gives Sonik Coin not only a great chance to pump but also to sustain its growth over a long period of time. The presale has just hit the $700,000 raised mark and already over 24 million tokens have been staked. Things are starting to move quickly so we expect this presale to end soon and for the meme coin to pump once its Uniswap listing begins.

>>> Buy Sonik Coin Now<<<

The baby coin clones likely just a flash in the pan

As we mentioned earlier Baby Shiba Inu (BABYSHIB) and BabyShia (BABYSHIA) are both in the top 5 of DEXTools hot rankings. However it should be noted that some of the underlying numbers don’t fill us with too much optimism.

BABYSHIA currently has a market cap of around $2.50 million while BABYSHIB is hovering around a fairly healthy $3.8 million. It is the liquidity that has us worried as the former has around $600k while the later is only around $350k.

These numbers and some of the other figures on DEXTools that are trending red would put them in the stay away column for us. These kinds of coins are great if you spot them right at the start but otherwise they can be dangerous investments.

They could still be a success especially if other projects try to jump on to the ‘baby’ trend but we will stick with meme coins with a brighter future thanks to their security and forward thinking.

Conclusion

We have already said it all really but we will leave you with this. The meme coin sector is as volatile as the crypto market gets. This can be used to your advantage or it can bite you. This is why we opt for coins like Wall Street Memes and Sonik Coin. They have shown commitment to the future by their token allocation and staking contracts and this is why we think they are the best options on the market now.

Disclaimer: The above is a sponsored post, the views expressed are those of the sponsor/author and do not represent the stand and views of Outlook Editorial.