{"id":448205,"date":"2023-10-16T13:26:19","date_gmt":"2023-10-16T13:26:19","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=448205"},"modified":"2023-10-16T13:26:43","modified_gmt":"2023-10-16T13:26:43","slug":"wsm-starts-token-burn-is-it-poised-to-outshine-dogecoin-shiba-inu-and-pepe","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/wsm-starts-token-burn-is-it-poised-to-outshine-dogecoin-shiba-inu-and-pepe","title":{"rendered":"$WSM Starts Token Burn: Is it Poised to Outshine Dogecoin, Shiba Inu, and Pepe?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Wall Street Memes ($WSM) is proving its salt as a meme coin that puts community first, having just completed its first major token burn following a community vote, as per an<\/span><a href=\"https:\/\/t.me\/c\/1921010863\/678691\"> <span style=\"font-weight: 400;\">announcement<\/span><\/a><span style=\"font-weight: 400;\"> on the project&rsquo;s official Telegram channel.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The team behind the meme coin just burnt 10% of the rewards wallet &ndash; accounting for 2,257,336 $WSM tokens (worth nearly $80,000).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The project announced an exciting token buyback scheme earlier this month, delivering a pump to the $WSM token price amid excitement about the prospect of $WSM becoming deflationary.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Weekly community votes will now occur on the project&rsquo;s<\/span><a href=\"https:\/\/t.me\/wallst_memes\"> <span style=\"font-weight: 400;\">Telegram<\/span><\/a><span style=\"font-weight: 400;\"> channel to decide the fate of bought-back tokens.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The community may opt to continue burning tokens, which will, over time, boost the value of $WSM, or to add them to Wall Street Memes&rsquo; reward program.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The latest token burn came just hours after tier 1 cryptocurrency exchange ByBit listed $WSM perpetual futures on its exchange, allowing traders to access massive leverage when trading the cryptocurrency.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">$WSM is now listed on 14 exchanges.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24WSM&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$WSM<\/a> is now trading on all of these exchanges &#128293;<\/p>\n<p>Which exchange do you want to see list <a href=\"https:\/\/twitter.com\/search?q=%24WSM&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$WSM<\/a> next? <br>Let us know &hellip; &#128640;<\/p>\n<p>Buy Now &#10145;&#65039; <a href=\"https:\/\/t.co\/ffr2clEknx\">https:\/\/t.co\/ffr2clEknx<\/a> <a href=\"https:\/\/t.co\/cbOUicGTwg\">pic.twitter.com\/cbOUicGTwg<\/a><\/p>\n<p>&mdash; Wall Street Memes (@wallstmemes) <a href=\"https:\/\/twitter.com\/wallstmemes\/status\/1712796761473847328?ref_src=twsrc%5Etfw\">October 13, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">Wall Street Memes is one of the internet&rsquo;s largest retail investment communities, gaining prominence during the meme stock craze of early 2021 that saw the likes of GameStop ($GME) pump.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">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).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The community has been expanding its relevance in the crypto space in 2023, hence the launch of its marquee $WSM meme coin, which quickly raised over $25 million to sell out a blockbuster presale over the summer.<\/span><\/p>\n<h2>Earn Impressive APYs Passively with $WSM<\/h2>\n<p><span style=\"font-weight: 400;\">Not only is $WSM deflationary thanks to the team&rsquo;s token buyback scheme, but $WSM also has another unique feature that differentiates and sets it above its other major meme coin rivals &ndash; it offers one of the crypto market&rsquo;s best passive income opportunities.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">$WSM investors can stake their tokens, and staking rewards are currently yielding a whopping 43%, as per the Wall Street Memes official staking<\/span><a href=\"https:\/\/insidebitcoins.com\/visit\/wallstreetmemes\" rel=\"nofollow\"> <span style=\"font-weight: 400;\">dashboard<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It is no wonder that $WSM has quickly established itself as the crypto world&rsquo;s fourth most traded meme coin.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As per<\/span><a href=\"https:\/\/coinmarketcap.com\/view\/memes\/\"> <span style=\"font-weight: 400;\">CoinMarketCap<\/span><\/a><span style=\"font-weight: 400;\">, Wall Street Memes last had a 24-hour trading volume of around $29 million, behind only Dogecoin, Shiba Inu and Pepe Coin.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Its 24-hour trading volume was well ahead of Floki&rsquo;s despite Floki having a market cap nearly three times as high.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Amid such substantial trading volumes, it is<\/span><span style=\"font-weight: 400;\">&nbsp;no wonder that dozens of cryptocurrency exchanges have now listed the token and that exchanges<\/span><a href=\"https:\/\/t.me\/c\/1921010863\/676498\"> <span style=\"font-weight: 400;\">like ByBit have also listed derivative products<\/span><\/a><span style=\"font-weight: 400;\"> such as perpetual futures (allowing leveraged trading).<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24WSM&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$WSM<\/a> is now trading on all of these exchanges &#128293;<\/p>\n<p>Which exchange do you want to see list <a href=\"https:\/\/twitter.com\/search?q=%24WSM&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$WSM<\/a> next? <br>Let us know &hellip; &#128640;<\/p>\n<p>Buy Now &#10145;&#65039; <a href=\"https:\/\/t.co\/ffr2clEknx\">https:\/\/t.co\/ffr2clEknx<\/a> <a href=\"https:\/\/t.co\/cbOUicGTwg\">pic.twitter.com\/cbOUicGTwg<\/a><\/p>\n<p>&mdash; Wall Street Memes (@wallstmemes) <a href=\"https:\/\/twitter.com\/wallstmemes\/status\/1712796761473847328?ref_src=twsrc%5Etfw\">October 13, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">$WSM&rsquo;s market cap was last around $60 million, with each token worth around $0.035.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That&rsquo;s still above the token&rsquo;s presale price (of between $0.02-0.35) after $WSM went as high as $0.075 in late September, reaching a whopping market cap of nearly $150 million.<\/span><\/p>\n<h2>Anticipated $WSM Product Launch Fuels Excitement &ndash; Can It Outshine Dogecoin, Shiba Inu, and Pepe?<\/h2>\n<p><span style=\"font-weight: 400;\">Hype is rapidly building surrounding an upcoming launch of a new Web3 product by the Wall Street Memes team that $WSM would be the native token for.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The team hasn&rsquo;t yet given any indications as to what this product might be &ndash; could it be a blockchain-based game, some DeFi trading platform, or some GambleFi product?<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Stay tuned for updates this month &#128640; <a href=\"https:\/\/twitter.com\/search?q=%24WSM&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$WSM<\/a> <a href=\"https:\/\/t.co\/BGdqhKmIFz\">pic.twitter.com\/BGdqhKmIFz<\/a><\/p>\n<p>&mdash; Wall Street Memes (@wallstmemes) <a href=\"https:\/\/twitter.com\/wallstmemes\/status\/1708559199947338158?ref_src=twsrc%5Etfw\">October 1, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">Whatever platform the Wall Street Memes team launches will immediately attract a lot of usage thanks to the community&rsquo;s huge marketing capabilities, which should further boost $WSM demand.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This will substantially boost $WSM&rsquo;s utility, further bolstering its potential to surpass rivals like Dogecoin, Shiba Inu and Pepe.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">After all, are these rival meme coins yield-bearing or deflationary, and do they function as the native token of a popular web3 protocol?<\/span><\/p>\n<p><a href=\"https:\/\/insidebitcoins.com\/visit\/wallstreetmemes\" rel=\"nofollow\"><span style=\"font-weight: 400;\">Buy $WSM on the Wall Street Memes website<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"fin-excerpt\">Wall Street Memes ($WSM) is proving its salt as a meme coin that puts community first, having just completed its first major token burn following <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/news\/wsm-starts-token-burn-is-it-poised-to-outshine-dogecoin-shiba-inu-and-pepe\" title=\"$WSM Starts Token Burn: Is it Poised to Outshine Dogecoin, Shiba Inu, and Pepe?\">[&#8230;]<\/a><\/div>","protected":false},"author":1872,"featured_media":448206,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7596],"tags":[],"class_list":["post-448205","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>$WSM Starts Token Burn: Is it Poised to Outshine Dogecoin, Shiba Inu, and Pepe? 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