Wall Street Memes Unveils $1 Million Token Buyback: The Inside Scoop on Why $WSM May Dominate the Crypto Meme Scene in 2024

ByMichael Abetz

Updated: 07 October 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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Wall Street Memes ($WSM), which almost hit a market cap of $150 million last week, just announced an exciting $1 million token buyback.

As per a tweet by the official Wall Street Memes team, these buybacks have already begun, and $1 million worth of tokens will be sent to the rewards wallet on the 11^th of October to fund community rewards.

BUYBACKS TO LAUNCH Oct 11th, 18:00 UTC 🚀

$1m initial buyback to fund community rewards 🔥

Buy Now ➡️ https://t.co/ffr2clEknx pic.twitter.com/xs0t55jfqm
— Wall Street Memes (@wallstmemes) October 6, 2023

Buybacks should lead to heightened short-term buying pressure in the market, which could be good for $WSM’s near-term price outlook.

These buybacks won’t be burnt, meaning they won’t deflate the $WSM supply.

But, increased funding for community rewards will be good for the long-term growth of the Wall Street Memes community, which certainly will help the $WSM price.

$WSM was last trading just under $0.05 per token, with a market cap of around $80 million and fully diluted market cap of just under $100 million.

Trading conditions remain healthy across Wall Street Memes’ V2 and V3 liquidity pools on Uniswap, with the former enjoying nearly $900,000 in trading volume in the past 24 hours and the latter around $85,000 over the same time period.

The community asked, we listened! 🙏

We are happy to announce that liquidity has been added to the v2 pool.

Check it out here ⬇️ https://t.co/h22zCEgl2N pic.twitter.com/CQz2sS8RCd
— Wall Street Memes (@wallstmemes) October 5, 2023

Liquidity also remains deep, with around $1.86 million committed to the V2 pool and $115,000 to the V3 pool.

Buy WSM on the Wall Street Memes website

Big Gains For Early Presale Wall Street Memes Investors

Born during the meme stock turmoil of 2021 that saw small investors take on Wall Street by bidding up the prices of heavily shorted stocks like GameStop ($GME), Wall Street Memes quickly became one of the internet’s largest and most influential retail investing communities.

Wall Street Memes has more than 1 million followers across its social media channels and consistently goes viral with its hilarious memes, which have attracted interactions from some of the biggest names on social media, like Elon Musk on X (formerly Twitter).

It’s no surprise then that Wall Street Memes was able to raise more than $25 million from its blockbuster $WSM presale this year, and that the $WSM price has subsequently pumped.

Most presale investors got in at prices between $0.02-0.035, meaning many are sat on gains of as much as 2x at the current $WSM price.

But these gains could be just the beginning for $WSM. Let’s take a look at a few reasons why the token could be a top crypto for 2024.

Visit $WSM Here

$WSM Staking Rewards A Whopping 44%

Memes form the founding spirit of the Wall Street Memes community. But $WSM is much more than just your average meme coin.

Indeed, the Wall Street Memes team has worked hard to instill the token with tangible utility.

Firstly, $WSM offers an excellent route to passive income, unlike virtually all other meme coins.

$WSM investors are able to stake their tokens and staking rewards are currently yielding a whopping 44%, as per the Wall Street Memes official staking dashboard.

🔥 Up To 44% APY Now Available 🔥

Stake Now ➡️ https://t.co/X031FQo0bW
Buy Now ➡️ https://t.co/kNJqZfssBZ pic.twitter.com/oQ6sKXJpcL
— Wall Street Memes (@wallstmemes) October 6, 2023

That’s one of the highest-staking yields you’ll find anywhere in the crypto space.

Secondly, hype is rapidly building surrounding an upcoming launch of a new Web3 product by the Wall Street Memes team that $WSM would be the native token for.

The team hasn’t yet given any indications as to what this product might be – could it be a blockchain-based game, some kind of DeFi trading platform, or some kind of GambleFi product?

Stay tuned for updates this month 🚀 $WSM pic.twitter.com/BGdqhKmIFz
— Wall Street Memes (@wallstmemes) October 1, 2023

Either way, whatever platform the Wall Street Memes team launches, it will immediately attract a lot of usage thanks to the community’s huge marketing capabilities, which should further boost $WSM demand.

Moreover, Wall Street Memes could announce some sort of token buyback and burn scheme, where profits from this future Web3 product are used to buyback $WSM tokens and remove them from the supply.

So $WSM could soon be a deflationary and yield-bearing meme coin that also functions as the native token to a popular Web3 protocol.

That’s a lot of reasons why $WSM could be a top crypto for 2024.

No wonder popular crypto presale analyst Jacob Crypto Bury just sunk another $10,000 into the token, despite having already obtained a sizeable bag during the token’s presale.