According to BroadChain, at 01:00 on April 23, CryptoNews reported that the Meme coin WOJAK surged 87% within 24 hours, with its market cap recovering to approximately $41.5 million, marking its highest weekly closing price since its 2023 peak. On-chain data indicates that this rally was supply-driven, with whale wallets absorbing selling pressure at key support levels, accompanied by significantly amplified trading volume, distinguishing it from low-liquidity noise.
This surge is not an isolated event; the entire Ethereum-based Meme coin sector has simultaneously attracted capital inflows. As gas fee conditions improve and market risk appetite recovers, funds are flowing back into this sector. The current key resistance level is near a $50 million market cap. Whether a breakout with increased volume occurs will determine if the upward trend can continue.
While WOJAK's significant rise validates the Meme coin narrative, some traders seeking early opportunities are turning their attention to presale projects. The ERC-20 token Maxi Doge (MAXI) presale has raised approximately $4.748 million, approaching the $5 million milestone, with a current price of $0.0002814. The project combines fitness culture with aggressive trading concepts, featuring holder trading competitions and a treasury.
Analysts point out that if WOJAK maintains momentum after breaking the $50 million market cap, the next target could be $100 million. However, if it faces resistance at this level, it is more likely to enter consolidation around the $30 million region. Chasing the current price is considered momentum trading, with the risk-reward ratio deteriorating as the price rises. Presale projects lack secondary market liquidity before listing, and investors need to assess the risks independently.