Friday, October 12th, 2023 – ByBit exchange launched Wall Street Memes ($WSM) perpetual futures trading on Thursday, causing a surge in the token’s price. The newest meme coin in the market, Wall Street Memes, experienced a 19% increase in value, reaching $0.0394. Although still considered undervalued in comparison to Dogecoin and Shiba inu, with market capitalizations of $8 billion and $4 billion respectively, Wall Street Memes holds promise with its current market cap of $64 million. Early buyers even had the opportunity to purchase the coin at the lowest price of $0.025. ByBit is known as the fifth-ranked centralized exchange according to Coinmarketcap data. The exchange also holds a strong position in the derivatives market, ranking second with a 24-hour trading volume of $7.4 billion. ByBit’s presence in both futures and spot markets solidifies its position as a major player in the cryptocurrency market.
The Mission of Wall Street Memes
Wall Street Memes has set itself a mission to democratize the financial markets and champion the interests of small investors against Wall Street. The project has gained significant traction and is currently the third most traded meme coin. With a trading volume of $70 million, Wall Street Memes sits behind only Dogecoin and Shiba Inu in popularity. Pepe follows closely in fourth place with a trading volume of $35 million. The recent surge in Wall Street Memes’ price following its listing on ByBit demonstrates the growing interest in the community-led project. As the token continues to gain attention, it is highly likely to secure listings on more tier 1 exchanges such as Binance, Crypto.com, and Kucoin. The anticipation of these listings is expected to drive FOMO (fear of missing out) among investors and potentially lead to significant price increases.
The Potential for Massive Returns
With Wall Street Memes already trading on top 10 exchanges including OKX, HTX, and Gate.io, as well as several others, the token’s potential for growth is significant. Traders on ByBit can access leverage of up to 25x to enhance their returns when trading $WSM. Yesterday, while the rest of the market experienced a downturn, Wall Street Memes saw a 32% increase due to a buyback and short squeeze campaign. This successful venture into the market further solidifies the potential for massive returns. The coin’s engaged community of over 1.1 million followers on platforms like X, Instagram, Telegram, and Discord played a vital role in the short squeeze’s success. Wall Street Memes aims to replicate the meme stock frenzy that WallStBets generated with GameStop and AMC, effectively bringing the phenomenon to the world of cryptocurrency.
The Wall Street Memes team announced the forthcoming launch of a major product, creating further excitement within the community. The team plans to reveal the product on Wednesday, October 18th, and has promised to share more details closer to the launch date. This announcement fuels the anticipation among investors and increases the likelihood of further price surges. Wall Street Memes aims to bring utility and value to its token, following in the footsteps of Dogecoin, which currently holds a valuation of $8 billion despite lacking significant utility. The impending product launch, coupled with the growing interest in the token, positions Wall Street Memes as a promising investment opportunity.
Cryptocurrency analyst No Bs Crypto, with a subscriber base of 35,000, recently published a video announcing his purchase of $1,000 worth of $WSM tokens. His decision is based on the remarkable price performance of similar meme coins. Coins like Pepe and Shiba Inu experienced astronomical returns of 5,000,000% and 46,000,000% respectively in 2021. Even a fraction of these returns could bring life-changing profits to investors who enter the market today. The consistent rise in trading volumes supports the potential for significant price growth. Moreover, Wall Street Memes offers participants a chance to enter a $50,000 airdrop competition, further incentivizing investment.
As Wall Street Memes continues to conquer the futures market and attract bigger investors, it becomes increasingly appealing to exchanges yet to list the token. The potential for a price explosion is palpable, and holders of Wall Street Memes can expect a thrilling journey ahead. If the project fulfills its mission to democratize the financial markets and provide opportunities for small investors, the future looks incredibly bright. Investors are advised to keep a close eye on Wall Street Memes as it navigates the cryptocurrency landscape and makes waves with its innovative approach to meme tokens.