On Thursday, ByBit exchange introduced Wall Street Memes ($WSM) perpetual futures trading, and the price of the coin skyrocketed. The newest meme coin saw a surge of 19% on the ByBit $WSM/USDT perps market, reaching $0.0394, after traders flooded in and drove up the price. Compared to popular meme coins like Dogecoin and Shiba Inu, Wall Street Memes still maintains an appealing valuation with a market capitalization of $64 million. The coin is a promising investment opportunity, offering the potential for substantial returns at its current price. Early buyers of $WSM were able to purchase at the lowest price of $0.025 during the presale. ByBit is a well-established exchange and ranks as the fifth-largest centralized exchange according to Coinmarketcap data. In the derivatives market, ByBit holds the second position with a 24-hour trading volume of $7.4 billion.
Wall Street Memes has taken upon itself the mission of democratizing the financial markets by advocating for individual investors against Wall Street. The project has gained significant traction and is currently the third-most-traded meme coin. Trading volume for $WSM stands at an impressive $70 million, only surpassed by Dogecoin and Shiba Inu. The positive response from the community-led short squeeze campaign launched by the Wall Street Memes team indicates the growing popularity of the project. As the token climbs the ladder of exchanges, it is expected to secure listings on more tier 1 platforms like Binance, Crypto.com, and Kucoin. This will likely generate more FOMO (fear of missing out) among investors, leading to increased expectations of top exchange listings.
The Wall Street Memes token is already listed on several exchanges, including OKX, HTX, Gate.io, and nine others. In the derivatives markets, MEXC, OKX, and BitMEX are the leading platforms, with ByBit recently joining the ranks. ByBit offers traders access to leverage of up to 25x, allowing them to amplify their returns when trading $WSM. The response to the volume surge on ByBit demonstrates the platform’s agility and responsiveness to market demands. Considering the engaged community of over 1.1 million followers across various social media platforms such as X, Instagram, Telegram, and Discord, Wall Street Memes is poised for future success.
Recently, Wall Street Memes achieved a 32% increase in value through a successful short squeeze campaign and a buyback initiative. This buying spree propelled the price of $WSM to a peak of $0.048. The project aims to replicate the frenzy surrounding meme stocks, like GameStop and AMC, in the crypto market. By generating remarkable trading volumes during the short squeeze, Wall Street Memes proved its ability to attract community-driven buying activities. The successful campaign further heightened expectations for upcoming project developments.
The Wall Street Memes team announced the imminent launch of their flagship product on October 18th at 15:00 UTC. While details about the product remain undisclosed, the anticipation among the community is evident. It is a significant milestone for the project and lays the foundation for further growth and success.
The enthusiasm for Wall Street Memes stems from its potential to deliver life-changing returns. Notable crypto analyst No Bs Crypto recently invested $1,000 in $WSM tokens, banking on the possibility of achieving 100x returns. The analyst points to the extraordinary performance of meme coins like Pepe, which experienced a staggering 5,000,000% increase, and Shiba Inu, which surged by 46,000,000% in 2021. Even a fraction of these returns has the potential to generate substantial wealth for investors entering the market at current prices. The steady rise in trading volumes provides a solid foundation for significant price growth in the future.
Despite its current valuation, Wall Street Memes is still significantly undervalued compared to meme coins like Dogecoin. As the token continues to solidify its position in the futures market, it will undoubtedly attract larger investors and become more appealing to exchanges that have yet to list it. The impending price explosion due to increased demand and attention is something investors should keep an eye on.
Wall Street Memes, with its innovative vision of democratizing financial markets, has emerged as one of the most promising meme coins. The successful introduction of perpetual futures trading on ByBit, combined with the upcoming product launch, has driven excitement and drawn in more traders. With the potential for substantial returns, Wall Street Memes continues to gain traction and is poised for future success.
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