- October 13, 2023
- Posted by: legaleseblogger
- Category: Related News
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A New Meme Coin, Wall Street Memes (WSM), Makes Waves on ByBit Exchange
Friday, October 12th, 2023ÔÇô ByBit exchange launched Wall Street Memes ($WSM) perpetual futures trading on Thursday, causing the price to pump at the time.
The newest hot meme coin experienced a surge in trading on the ByBit $WSM/USDT perps market, with the price increasing by as much as 19% and reaching $0.0394 after recent profit-taking.
Despite its early success, Wall Street Memes still holds an attractive valuation, with a market capitalization of $64 million, compared to the $8 billion and $4 billion market caps of Dogecoin and Shiba Inu, respectively. Pepe currently sits at $245 million.
At current prices, investors have the potential to achieve 10x or even 100x returns. $WSM recently completed its presale at a price of $0.0337, with early buyers having the opportunity to purchase at the lowest price of $0.025.
ByBit is currently ranked as the fifth-largest centralized exchange according to Coinmarketcap data. In the derivatives market, ByBit secures the second spot with a 24-hour trading volume of $7.4 billion. It is important to note that the futures markets in the crypto industry are significantly larger than their spot counterparts.
However, even in the spot market, ByBit maintains its status as one of the giants. The exchange boasts an exchange score of 7.1, based on factors such as web traffic, trading volume, average liquidity, and confidence in volume data accuracy. ByBit’s 24-hour trading volume in the spot markets is $972 million.
With the ease of accessibility, interested buyers can directly purchase $WSM on the Wall Street Memes website using ETH, USDT, or their bank cards.
Opportunity for Listing on ByBit Spot Market – $WSM As the Third-Most-Traded Meme Coin
ByBit’s prompt response to the recent surge in trading volume, which occurred during a short squeeze campaign initiated by the Wall Street Memes team, signifies the growing traction of this community-led project. The project aims to democratize the financial markets by empowering retail investors against Wall Street.
Wall Street Memes already ranks as the third-most-traded meme coin, surpassing Pepe and securing a trading volume of $70 million. Only Dogecoin and Shiba Inu currently have higher trading volumes. However, the gap between Wall Street Memes and the top two meme coins is significant. Pepe currently sits at $35 million in trading volume, far behind $WSM’s $70 million.
Since the announcement of ByBit’s support for $WSM, the token has experienced a 14% surge in the spot markets. As Wall Street Memes continues to climb the ladder of exchange listings, a spot listing on more tier 1 exchanges, including Binance, as well as platforms like Crypto.com and Kucoin, seems plausible. As expectations of these listings grow, the fear of missing out (FOMO) is expected to drive further price growth.
Wall Street Memes is already available for trading on the top 10 exchanges, including OKX, HTX, and Gate.io, as well as nine other exchanges. In the derivatives market, MEXC, OKX, and BitMEX lead the way, and Bybit has now joined them.
ByBit Official Tweet: https://x.com/Bybit_Official/status/1712466911974560051
New Entry Opportunities with Buyback and Short Squeeze
Yesterday, while other cryptocurrencies were experiencing a downturn, $WSM witnessed an impressive 32% price increase due to a buyback and short squeeze campaign. The price briefly reached $0.048. The Wall Street Memes project boasts a highly engaged community consisting of over 1.1 million followers across platforms such as X, Instagram, Telegram, and Discord. The short squeeze received positive engagement from the community.
Wall Street Memes aspires to replicate the meme stock frenzy in the cryptocurrency market, similarly to what WallStBets did for stocks such as GameStop and AMC. Judging by the trading volume surge resulting from the short squeeze, Wall Street Memes has successfully initiated a community-driven buying spree. Expectations are high for more similar initiatives in the future.
Major Product Launch Announcement on October 18th
Prior to future initiatives, the community eagerly awaits the unveiling of a major product by the Wall Street Memes team. The team recently announced that this product will be revealed on Wednesday, October 18th, at 15:00 UTC. Additional details about the product will be provided closer to the launch date.
Wall Street Memes Official Tweet: https://x.com/wallstmemes/status/1712170998978458082
Potential 100x Returns and Notable Investments
Why I Just Bought $1,000 WSM Crypto! (Life-Changing?)
No Bs Crypto, a popular YouTuber and crypto analyst with 35,000 subscribers, recently uploaded a video in which he invested $1,000 in $WSM tokens, aiming for 100x returns. He believes that such returns are possible by comparing the performance of coins like Pepe, which rose by 5,000,000%, and Shiba Inu, which achieved a staggering 46,000,000% increase in value in 2021. Even a fraction of these returns could yield life-changing profits for investors entering the market today. Consequently, trading volumes continue to rise, establishing a solid foundation for potential astronomical price growth.
It is worth noting that, despite its current valuation of $8 billion, Dogecoin lacks utility. However, Wall Street Memes holds great potential for the future. Investors who buy today also have the opportunity to participate in the $50,000 airdrop competition currently running on Gleam.
As Wall Street Memes further establishes its dominance in the futures market, it is poised to attract larger investors and is expected to become increasingly appealing to exchanges that have not yet listed the token. Hold on tight as a price explosion may be on the horizon.
Buy $WSM on the website
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