Today, the world of cryptocurrency turns its gaze yet again to the fascinating meme coin scene, with Wall Street Memes, or $WSM making a remarkable splash. With only a week under its belt, $WSM has now become the third most traded meme coin with a commanding 24-hour trading volume of $95 million. The forceful newcomer has announced its listing on Gate.io and CoinW, two centralized exchanges expected to fuel the coin’s growing trading momentum.
The inclusion of $WSM into such exchanges potentially signifies the introduction of more big players into the meme coin market. Exchanges like Kucoin, Binance, Coinbase, and ByBit might just be the next to embark on this thriving trend. The astonishing push of this coin is certainly captivating exchanges yearning to list it.
In its campaign to revolutionize financial markets by advocating for the little guy against Wall Street, Wall Street Memes recently established its staking service. The service seems to be greeted favorably, with its tokens enduring rigorous effects, staking up to around 496 million, only slightly down from yesterday’s 551 million. Impressively, this service bags an APY of 40%, certainly concentrating minds.
Unlike other meme coins, $WSM allows token holders not only to relish capital appreciation but also have a shot at earning a passive income through a yield-earning potential. Now listed on multiple exchanges, including OKX, HTX, MEXC, LBank, CoinEx, BitMart, and BingX, $WSM has become more accessible to crypto enthusiasts.
While the rising popularity and potential addition of more exchanges may drive up FOMO around the project, there is another side to consider. Listed projects can witness price surges, like when Pepe exploded 2,000% after being listed on Binance. Can $WSM replicate this feat, or even outperform top dogs like Pepe, Shiba Inu, and Dogecoin? Skeptics might argue it’s not feasible and caution against hasty moves.
However, $WSM does have sound reasons for gaining traction, including the involvement of prominent figures like Elon Musk in the Wall Street Memes community, a vibrant, growing community, exploding trading volumes, token burn, and buyback promises. A major product launch, a significant $50,000 airdrop competition, a new futures market, and generous community rewards could all contribute to the continued success of $WSM.
Yet, every silver lining has its cloud. Crypto is a high-risk asset class, and it’s pertinent to remember that with significant potential rewards come substantial risks. So when the sun beautifully illuminates that silver lining, ensure to have your sunglasses on – in case the glimmer blinds your sound judgment.
Source: Cryptonews
