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Wall Street Memes ($WSM) has come from a standing start to become the 4th-most-traded meme coin in global crypto markets.
The astonishing achievement comes just six days after its first centralized exchange listing, with more listings due to be announced on Wednesday.
Nearly $60 million $WSM has been traded since the token was listed on OKX on 26 September. That compares with $79 million for Pepe, $103 million for Shiba Inu, and $222 million for Dogecoin – no mean achievement for a six-day-old token.
Over the weekend, $WSM beat Pepe and Shiba Inu in 24-hour volume traded. Rumors swirl that the following exchanges to list $WSM could include Binance or Kucoin.
As volume piles up for Wall Street Memes, trading interest is exactly the metric that exchanges seeking out new coins to list are most interested in.
$WSM Climbs the Ranks: Now the 4th Most Traded Meme Coin in the Last Week
Currently, $WSM can be traded on OKX, HTX, MEXC, LBank, CoinEx, BitMart, and BingX centralized exchanges. It took Pepe 17 days from listing on decentralized exchanges to list on Binance, when its price rocketed 2,000%.
As ‘Uptober’ and altcoin season kicks off, $WSM has exploded onto the scene at just the right time.
Going by past performance, the fourth quarter of the year is usually the best for crypto, and 2023 looks like it will be no different in that respect.
What’s good for crypto will be suitable for meme coins in general and $WSM in particular.
Wall Street Memes has also been attracting buyers because of its verifiable connection with multi-billionaire Elon Musk, the wealthiest man in the world. Musk has occasionally interacted with the WallStMemes’ X (formerly Twitter) account.
MEXC Exchange Rolls Out Futures Trading for $WSM Token
Meanwhile, in a significant breakthrough for a meme coin, the MEXC exchange opened the first futures market for the $WSM/USDT token pair, adding positive sentiment for the new meme coin. The crypto futures markets are far bigger than the spot ones.
Market participants should expect other trading venues to follow MEXC’s lead as exchanges compete to attract trading volume around popular trending tokens like $WSM.
News of $WSM debuting on futures markets comes in the wake of the launch of two new Ether-based futures exchange-traded funds (ETFs): Bitwise Ethereum Strategy ETF (AETH) and the Bitwise Bitcoin and Ether Equal Weight (BTOP).
Also helping to drive price momentum today for crypto – and $WSM – was the news that US exchange Coinbase has just landed a payments license from Singapore’s financial regulator, the Monetary Authority of Singapore.
$WSM REVERSAL INCOMING 🔥 pic.twitter.com/xDhPLvayyl
— FABRI CRYPTO (@FabriLemus7) October 1, 2023
$WSM: Pioneering Utility in the Meme Coin Space
Wall Street Memes aims to democratize the financial system by bringing its King of Stonks success with meme stocks to crypto. Interest in the coin has been driven by an existing community of 1.1 million on social channels, ranging from nearly half a million on Instagram to a quarter of a million on X.
But the team at Wall Street Memes are not resting on their laurels. There are now 36,706 members of its Telegram channel, where activity is frenetic as excitement about the project continues to grow.
An overarching theme driving interest in $WSM is the fact that, in many ways, it is not the average meme coin.
Meme coins, almost by definition, don’t do anything much other than pay homage to a meme character and stimulate the birth of a community around that.
Adding utility, if at all, comes much later and is often an afterthought at best, as in the case of Shiba Inu.
Sure, as with all crypto, meme coins have the ultimate utility of being exchangeable, but as we know, the theory and practice of that are two entirely different things – in other words, the tokens can be issued, but whether they are exchangeable for goods and services depends on the potential receiving party.
However, by design, the team at Wall Street Memes has been focused on utility from the outset.
To that end, it has been announced that a major product will be launched this month. That comes on top of a staking platform rolled out a couple of weeks ago that has been enthusiastically received.
ANNOUNCEMENT 🚨
First product and buyback program launching in October! 🚀
Stay tuned for updates… pic.twitter.com/o0Js501X4Z
— Wall Street Memes (@wallstmemes) September 29, 2023
Earn Income and Secure Capital Returns with $WSM Staking
Initial stakes are locked for seven days and currently earn an annual percentage yield of 36%. 551 million $WSM are staked, and the first unlock occurs tomorrow. However, many will likely choose to remain in the staking pool to maximize their income returns.
No top meme coins include a staking system as part of their product offering, making Wall Street Memes stand apart in its commitment to delivering value for its community.
Although there has been no indication as to what the mystery product coming in October might be, whatever it is, it will be value-enhancing for token holders if the staking product is anything to go by.
The team has also said it will be undertaking a burn program, which will decrease $WSM token supply over time, thereby increasing its scarcity and the value of remaining tokens.
Traders should also note that Wall Street Memes is conducting a generous $50,000 airdrop competition, which can be entered on Gleam.
🚀 50K $WSM AIRDROP ALERT 🚀
Buy Now ➡️https://t.co/7wNmO5yIO5
Enter Now ➡️https://t.co/ykaumLsjJ4 pic.twitter.com/ENuHb9mMlQ
— Wall Street Memes (@wallstmemes) September 28, 2023
Wall Street Memes Token Eyes $0.065 and $0.10 Targets; 1,000x Growth Potential on the Horizon?
In its brief trading history, $WSM has registered an all-time high (ATH) of $0.089. As liquidity floods into its trading pairs across spot and futures markets, a challenge to the ATH is expected soon.
$WSM is currently trading at around $0.060 – and was as high as $0.065 earlier in the European session – as bulls take a breather before the next push higher.
Presale buyers able to lock in the lowest available price of $0.025 are today sitting on a gain of 140%, or almost 2.5x.
The following price target for bulls is $0.10, as the price gathers fuel to kill a zero.
$WSM has built strong support between $0.050 and $0.040, as seen on the volume profile indicator. Value is up, as shown in blue, which means at that price range, there have been more buyers than sellers.
A double bottom has also helped to keep profit-taking bears at bay around the $0.050 level. A march higher to $0.065 was cut short but shows intent on the part of traders and is the key resistance area to break for bulls.
But the chances of a parabolic price breakout are increasing. X crypto analyst Jake Gagain, with 220,000 followers, thinks $WSM could be the next 1,000x gem.
https://twitter.com/JakeGagain/status/1708820667540320528
Meme Kombat and Bitcoin Minetrix: Two Rising Stars for the Upcoming Altcoin Season
If you are eager to find another Wall Street meme opportunity, Meme Kombat ($MK) is one, on sale now for $1.667.
Meme Kombat is a platform for battling with meme characters and is the first of its kind in the crypto space.
Gaming and gambling are super popular. Just today, Elon Musk provided a preview of a gaming streaming service on X. Lash that up with gambling, the biggest sector in crypto, and Meme Kombat looks like a sure-fire winner.
The project has raised $218,000, with an initial target of $1 million. You can buy Meme Kombat tokens today with ETH, BNB, or USDT.
The Bitcoin hash rate is at an all-time high as Bitcoin proves its worth as the most secure network in the digital world. It is also proving to be a great green option for energy usage by harnessing greenhouse gasses like methane and increasingly using renewable sources for its hash rate.
For those seeking exposure to this bullish backdrop, Bitcoin Minetrix is an exciting new Bitcoin cloud mining platform built on Ethereum.
It offers the world’s first genuinely decentralized cloud mining platform and has raised $329,000. Stake the $BTCMTX token and earn credit, which can be used to mine Bitcoin.
No cash changes hands, with credit allocations automated through smart contracts. Bitcoin Minetrix is a scammer’s nightmare because it puts them out of business. It is also the most efficient form of cloud mining for retail investors.
$BTCMTX is priced at $0.011, and the project has raised nearly a quarter of a million dollars in days, so there’s no time to lose to invest in one of the most innovative projects in crypto right now.
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