Inside Wall Street Memes (WSM): Unveiling the Headlines
In Brief
The Wall Street Memes Token ($WSM), trending on Instagram and Twitter since 2019, represents a shift towards community-focused financial spheres in the evolving crypto sector.
The crypto sector is constantly changing, and new coins and currencies are showing on the map, each with unique value. Among these is the Wall Street Memes Token ($WSM), which has been becoming more popular lately.
The token started trending on Instagram and Twitter in 2019. It’s part of a trend that grew out of opposition to traditional banking monopolies and shows a move towards community-focused financial spheres.
Now, let’s get on top of the latest WSM developments.
WSM Up Till Now
During the 2023 presales, WSM stood out as a leading contender with an initial financing of about $25 million. Many hoped that WSM would follow in the footsteps of the Shiba Inu after its release. Wall Street Memes already has a sizable fan base, which can only serve it well going forward.
The meme token’s developers have a track record of hit ventures, such as an NFT collection that sold out in just thirty minutes. The platform’s developers chose to establish a new NFT project, Wall St Bulls, in 2021. Only thirty minutes later, 10K Ethereum NFTs from the first collection were sold.
They have also entered the Bitcoin NFT industry, staying up-to-date with the market. On Medium, the platform recently announced that they’ve switched from the ETH contract to a brand-new BSC contract, but specific details are unavailable as Medium has apparently suspended the Wall Street Memes portal.
30 Days in the Red
April was a slow month for the entire crypto market, meme and non-meme coins. Dogecoin (DOGE), the original meme coin, experienced a %17 downfall in the last 30 days while Bitcoin’s %16 slump also took the headlines.
Photo: CoinMarketCap
WSM is in a bigger ditch as it has lost more than a quarter (%25.17) of its value since April 4, currently at $0.0060. The token once recovered itself on April 14 before taking a second nosedive and failing to show signs of a sustainable recovery until now.
Of course, with everything from the Bitcoin halving event and Bitcoin ETF controversies to the industry panic over the Fed’s interest rate ruling, it’s safe to say that April was not a quiet month for the crypto sector. Recent geopolitical tensions, particularly the threat of a war in the Middle East, also had a major impact on market sentiment as a whole.
Photo: CoinMarketCap
WSM Casino
Towards the end of 2023, the platform launched its own Bitcoin casino, WSM casino, to invite its fans and players to embrace the libertarian spirit and join the anti-Wall Street movement while having fun.
With the WSM token, people can go to the casino, play different games, and bet on them. The token is also a sign of solidarity with the retail campaign fighting against monopolies in the conventional financial markets. It also plans to reward users through a staking initiative to encourage them to stay involved for a long time. Currently, the platform offers a %31 APY to all WSM holders who decide to stake their tokens.
There’s a massive airdrop campaign in place, too.
$1 million WSM Airdrop
To celebrate having $100 million played at its tables, WSM Casino is airdropping $1 million WSM. This big move comes right after a fruitful 5% burn event, setting to excite the people in the WSM community.
After reaching a major betting milestone not long ago, it is not surprising that the casino has decided to show appreciation to its players. The goal of the airdrop is to improve the user experience by giving users an opportunity to boost their profits according to their betting activity.
The core of WSM Casino’s plan is implementing both reward systems and new technology. The latest burning round burnt the casino’s Net Gaming Revenue (NGR) from Oct 2023 to Jan 2024. This change paves the way for monthly burns, which promise continuous rewards to members who stick around.
Throughout the year, the airdrop will happen at different times each month. At least $100,000 will be airdropped to those that qualify. The amount of the airdrop will depend on how much you bet, so the more you play, the larger the rewards could be.
To get in, players must pay at least 500 USDT over the course of four weeks. Then, they have to play (make bets of at least 100,000 USDT during the same period) to get the airdrop. They can keep track of the details on a scoreboard.
Based on the terms and conditions: If a player bets $100,000 during the airdrop time and there are 1,000,000 qualifying players, that player can receive 10% of the prize pool or 10,000 USDT.
What’s Ahead for WSM?
The biggest ICO ever for a crypto token was for Wall Street Memes. The project has a massive community with more than 500,000 Instagram fans and almost 300,000 Twitter users. Elon Musk was among many who saw this activity and communicated with the WSM account on Twitter.
Photo: Wall Street Memes Casino
The Burn Cycle
The developers of Wall Street Memes have come up with a unique way to burn tokens that could have a big effect on their future value. The massive NGR hit is one example.
The development team’s goal in burning tokens is to decrease the amount of WSM in circulation. The decrease in supply could cause the token’s value to drop, which could be good for users in the long run.
For full openness, the platform also allows users to track burn events on the WSM Web3 Dashboard. With this tool, token holders will be able to keep an eye on the progress of the burn process and how it affects the tokenomics of this community-driven crypto.
Nevertheless, WSM is currently struggling to recover from the April slump, and it’ll be interesting to see how far the project can move forward by mainly relying on its loyal community. Of course, since many other meme coins have started to reverse their downward trends, we can expect WSM to follow in their footsteps soon.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Viktoriia is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.
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Viktoriia is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.
