The hot new meme coin on the block, Wall Street Memes ($WSM), has been creating quite the buzz in crypto circles. Its presale raised an impressive $25 million, demonstrating strong interest in this new cryptocurrency. But, this was just the beginning.
Momentum continued today, October 4th, as major exchange Gate.io listed WSM at 10am UTC. This marks the latest in a series of high-profile exchange listings that have propelled WSM to new heights.
WSM Gets Added to Top Exchanges
Other leading exchanges that have listed WSM so far include HTX, OKX, and others, while CoinW also added the token today. These listings on top-tier crypto trading platforms have coincided with outstanding growth for WSM.
From an initial price around $0.033, WSM shot up to $0.075 within days of launching.
Lately, WSM has entered a consolidation phase after its blistering takeoff. The coin seems to have found a new trading range between $0.053 and $0.06 for now. Still, this is almost a 100% increase from WSM’s launching presale price!
Despite this stabilization, WSM continues gaining ground rapidly for such a new asset. Its steady climb up the crypto ranks suggests further major bull runs lie ahead. DEXTools consistently ranks it among the top five most viewed trading pairs, or ‘hot pairs’.
Speculation has intensified over WSM getting listed on Binance next, followed by other giants like Kucoin, Coinbase, and ByBit. For now, WSM is purchasable on Gate.io, CoinW, OKX, HTX, MEXC, LBank, CoinEx, BitMart, BingX, and several other exchanges.
WSM is currently running a poll on its Twitter account asking followers to vote on what top exchange should list the token next.
WSM has taken strategic steps to boost its platform. A key move was launching its staking service, allowing holders to earn attractive 40% APY yields. This incentive encourages investors to keep holding WSM coins, while helping secure the network via staking.
In a milestone for the meme coin space, MEXC exchange commenced WSM/USDT futures trading. This represents a big breakthrough, since crypto futures markets trade much higher volumes than spot markets. MEXC’s decision may prompt other trading platforms to open WSM futures trading. This would draw more investor interest around trendy new tokens like WSM.
Yesterday saw the first unlocking of WSM tokens that were staked at launch. On Monday, there were 551 million tokens staked. By Tuesday, that number dropped slightly to 496 million. The minimal reduction suggests most early staking participants remain fully committed to WSM. The generous 40% APY on offer is likely a key motivator to keep holdings locked up.
WSM also benefits from a vibrant community. Its X (Twitter) account has nearly 300,000 followers, while its Telegram channel has over 35,000 members. The project is running a $50,000 airdrop promotion, with prizes split among five random WSM holders.
These are impressive figures for such a young coin. WSM’s credibility has been bolstered by verified connections to Elon Musk. As the world’s wealthiest man, Musk has huge influence in the crypto sphere. His interactions with WallStMemes’ X (formerly Twitter) account have drawn attention and buyers to WSM. This association with Musk likely helped WSM’s presale stage funding hit $25 million.
In terms of marketing, WSM has advertised on major crypto and investing sites including Cryptonews, CryptoPotato, CaptainAltcoin, Investing.com, and many others. The team is pursuing an aggressive promotional campaign across platforms to spread awareness of this new meme coin.
As it currently stands, WSM has a market capitalization exceeding $108 million. According to DEXTools, the number of WSM holders is approaching 35,000. These figures are impressive for a coin that only launched a week ago.
It’s also possible that price stagnates or drops, especially if hype dies down. The crypto market is very unpredictable.
While $0.1 is certainly possible, there is no guarantee if/when it would occur. WSM may hit new highs with ongoing momentum, but prices could also drop. Making accurate short-term predictions is very difficult for any crypto asset. The key factors will be growing adoption, new exchange listings, and maintaining community excitement, and WSM looks to be on a positive side on all of these.
Conclusion
With its accelerating momentum, all signs point to Wall Street Memes becoming a leading force in the meme coin space. As the top exchanges line up to list WSM, its liquidity and investor base will expand. Staking and promotions like the $50,000 airdrop will further drive interest in WSM. And the Musk factor could lend WSM’s price some Tesla-like volatility.
For investors and crypto enthusiasts, WSM presents an exciting new meme coin with tremendous potential. Its launch phase has been executed smoothly across major trading platforms.
Backed by a well-funded project and lively community, Wall Street Memes has the ingredients to become a breakout success in the making. As meme coins gain legitimacy, WSM may emerge as an outlier performer that produces eye-popping gains for early adopters.
It’s possible to buy and stake $WSM directly on the wallstmemes.com website with a crypto wallet, or via OKX and now Gate.io exchange.
