HFTs Bull Run Stalls – Time to Consider Wall Street Memes Coin?

On Aug 10, 2023

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After painting multiple greens across the daily price charts, Hashflow’s recent performance has stalled its bull run. Hourly charts of crypto are showing an 8.3% decline.

Meanwhile, investors are captivated by what Wall Street Memes has to offer. The Reddit-group-inspired Memecoin has raised close to $24 million to date.

Hashflow Price Performance – Hourly Reds dampen Daily Greens

Hashflow has been on a bull run since July 27th, painting multiple greens. In the last 24 hours alone, it has increased by more than 10%. There has also been a 2.5% increase in its market capitalization and a massive 348% upswing in its 24-hour trading volume. At 5:07 am EST, it was trading at $0.37.

Hashflow Daily Chart

However, hourly charts tell a different story. There has been an 8.3% decline in its price since it peaked at $0.4. The token has painted three consecutive reds in the last four hours, followed by a green too small to show a rebound.

Hashflow Hourly Chart

Why was Hashflow Pumping?

Little is known about why Hashflow started to paint multiple green candles on July 27th. The tweets by Hashflow on that date didn’t indicate any significant developments that could boost its value.

Only a couple of tweets of Hashflow hosting AMAs were available.

T – 1 hour until Basic Degenomics Ep. 2️⃣3️⃣!
We have the one and only @0xthade from @PrimapesDAO on today 👀 🍌
Alpha will be spilled…don’t miss out anon 🧠
Set your reminder! 👇🖤🤍 pic.twitter.com/Pc1vnazpEL
— hashflow (@hashflow) July 27, 2023

CoinMarketCap also doesn’t show anything. In fact, the only posts prevalent on this website are by the Hashflow team. It indicates that the community isn’t talking about this token.

That said, some rumors are going around on Twitter that an HFT bot is responsible for Hashflow’s recent bullish price action.

Never seen price action this… fuzzy? Pretty sure someone turned on some sort of hft bot. pic.twitter.com/B6cgo53Svx
— kethic.eth 🔴✨🛡️ (@kethcode) August 5, 2023

What is Hashflow?

Hashflow is a DEX, a Decentralized Cryptocurrency Exchange that supports multiple blockchains while ensuring zero slippage and protecting against MEV (Maximum Extracable Value).

According to Hashflow, the trades it offers are commission free and executed at the displayed price to give investors the optimum value for their assets.

Hashflow combines on-chain and off-chain crypto data provided by market makers and feeds them to an RFQ engine (Request for Quotation) to accomplish this. The quoted prices are cryptographically signed by market makers so that sellers and buyers receive the exact quote.

Accompanying these features are utilities such as bridgeless cross-chain swaps, MEV protection, Hashverse, and zero slippage.

Hashverse is a gamified DAO by Hashflow where the governance members can complete quests, stake tokens, and earn rewards to direct the future of this project.

These features helped fuel Hashflow’s momentum in 2022 when it launched and was valued above $1. But the token has had a rough run since then, with only a little pump back in March 2023 when its price reached the $1 mark.

Hashflow Price Analysis

Despite the consecutive reds painted on the hourly charts, daily charts still indicate the token is in the green.

RSI shows that the token’s sentiment is 20 points below the overbought zone. Combined with a slightly positive MACD, that indicates a lack of interest in this asset.

Due to these factors, users would be better off investing in an alternative asset, like Wall Street Memes.

Hashflow Alternative – Wall Street Memes

Wall Street Memes is a presale crypto that is moving fast toward the conclusion of its ICO and has raised close to $24 million already. With its unique approach to memes combined with the traction it has obtained on social media platforms, this meme coin project has emerged as one of the best crypto presales of this year.

Inspired by Wall Street Bets, Wall Street Memes is a cryptocurrency project that aims to bring back the excitement of investing in meme coins. It clearly states in its official whitepaper that “greed is good,” its goal is to mobilize the community and turn meme coin – a token type often perceived as useless – into a wealth-generating asset.

Helping with it is a collection of memes and social media posts that have continued to garner attention. With over 1 million followers across four social media platforms, Wall Street Memes generates the right amount of buzz in crypto.

This buzz has also gotten the attention of Elon Musk, who has interacted with Wall Street Memes’s page on multiple occasions.

Wall Street Memes don’t bank on perceived utility to provide value. Focusing on the community, this project has taken a different route to attract investors. If this momentum stays with this token after the presale, it can potentially go 10x once it lands on cryptocurrency exchanges.

At press time, the token is available for purchase at a discount price of $0.0331. Interested parties can visit wallstmemes.com to participate.