POW Coin Shoots Up 3,000% and Viral Meme Coin Wall Street Memes Secures $25 Million in Funding – Next PEPE or Shiba Inu?
In the latest DEX skyrocket, POW token - otherwise known as Pepe of Wall Street - has exploded more than +3,000% in a magnificent pump.
This comes amid a wider resurgence in on-chain trading activity, dubbed the 'On-Chain Summer', previous weeks have seen major narratives such as Telegram trading bots and Twitter X-themed post dramatic moon-shots as trading volume on DEX explodes.
The token ticker 'POW' is a novel play on the original proof of work consensus technology, that taps into the frenzied trading hype around all things PEPE.
Early-backers have already began to secure profits, although speculation of a further 4-5x to a $5m market cap is rife on Crypto Twitter.
Launched in at 11AM on September 4, POW token magnetised almost instant traction - exploding in a dramatic pump from a lowly $0.074 to smash a zero at $0.0677.
The initial +1,320% pump caught the attention of eagle-eyed DEX traders, and an absolute flood of more than $3.9m in trading volume flooded into the charts.
This sudden influx of trading volume ignited a multi-leg run, which topped out at an all-time high of $0.0523 - as POW surged to a $1.3m market cap.
However, after posting more than +3,000 in just 6 hours, a -60% retracement move was triggered, sending price action tumbling down to $0.069 - as early backers took profit.
This left POW price reeling, in a 12-hour long consolidation zone with well-defended supportive footing above $0.0512.
Yet, despite the successful consolidation, upside moves have become limited with a significant resistance zone around $0.0516 forming a localised ceiling.
While more than 1.5k bag-holders endure, everything is to play for, but smart capital have already began to rotate profits into a more lucrative play ahead of one of the
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