Exploring Wall Street Memes (WSM): A Closer Look at the Headlines
In Brief
Since 2019, the Wall Street Memes Token ($WSM) has been making waves on platforms like Instagram and Twitter, embodying a significant transition towards finance focused on community within the rapidly changing world of cryptocurrency.
The crypto landscape is in constant flux, with numerous new coins emerging, each offering its unique proposition. One of the rising stars is the Wall Street Memes Token ($WSM), gaining traction in recent times.
This token began making headlines on Instagram and Twitter in 2019, emerging from a backlash against traditional banking systems and highlighting a shift towards financial models centered around community engagement.
Now, let's dive into the recent advancements surrounding WSM.
WSM Up Till Now
During the presale phase in 2023, WSM distinguished itself as a frontrunner with an impressive initial raise of approximately $25 million. Expectations were high that WSM might replicate the success of Shiba Inu post-launch. With a robust following, Wall Street Memes is well-positioned for future achievements.
The creators behind this meme token have a proven history of successful projects, including an NFT collection that completely sold out in merely thirty minutes. In 2021, they launched a new NFT initiative called Wall St Bulls, which saw 10,000 Ethereum NFTs disappear from the market within that same half-hour.
In addition to this, they've made strides in the Bitcoin NFT arena, ensuring they remain current with market trends. The platform recently communicated through Medium about transitioning from the Ethereum contract to a new BSC contract, although specific details remain unclear as the Wall Street Memes portal on Medium has reportedly been suspended.
Stay informed on cryptocurrency distributions through our various channels. Airdrops Calendar .
30 Days in the Red
April proved to be a lackluster month for the entire cryptocurrency environment, affecting both meme coins and mainstream cryptocurrencies. Notably, Dogecoin (DOGE), the pioneer meme coin, faced a 17% drop over the past month, while Bitcoin also saw its value decline by 16%.
Photo: CoinMarketCap
WSM faced a more significant challenge, having lost over 25% (specifically 25.17%) from its value since April 4, now sitting at $0.0060. Although the token showed some promise with a rebound on April 14, it quickly plummeted again, lacking any signs of a stable recovery as of now.
With various events, such as the Bitcoin halving and the controversies surrounding Bitcoin ETFs to the overall market panic triggered by the Federal Reserve's interest rate decisions, it’s evident that April was anything but uneventful for the crypto community. Additionally, rising geopolitical tensions, especially regarding potential conflicts in the Middle East, significantly influenced market sentiment.
Photo: CoinMarketCap
WSM Casino
As 2023 approaches its end, the platform has inaugurated its Bitcoin casino, WSM Casino, inviting fans and players alike to engage with the libertarian ethos and partake in the anti-Wall Street advocacy, all while enjoying themselves.
With the WSM token in hand, players can visit the casino to play various games and place bets. This token also symbolizes solidarity with retail movements against monopolistic practices in traditional finance. Furthermore, the platform intends to incentivize users via a staking scheme, encouraging long-term engagement. Currently, stakers can enjoy an impressive annual percentage yield (APY) of 31% on their WSM tokens.
An extensive airdrop campaign is also underway.
$1 million WSM Airdrop
To commemorate the milestone of $100 million wagered at its tables, WSM Casino is rolling out a $1 million WSM airdrop. This exciting initiative follows a successful 5% token burn event, aiming to invigorate the WSM community.
Following the recent achievement of a major betting milestone, it's no surprise that the casino is expressing gratitude to its players. The airdrop intends to enhance user experiences by offering players a chance to increment their earnings based on their betting behaviors.
Essential to the strategy of WSM Casino is the integration of reward mechanisms alongside innovative technology. The latest token burn round effectively decreased the casino's Net Gaming Revenue (NGR) from October 2023 to January 2024. This alteration sets the stage for future monthly burns, promising sustained rewards for loyal members.
Throughout the year, airdrops will occur at various times each month, with at least $100,000 being allocated to qualifying players. The amount received in the airdrop will be correlated with betting activity, meaning the more you play, the higher your potential rewards.
To participate, players must wager at least 500 USDT over a four-week window. Additionally, they need to place a minimum of 100,000 USDT in bets during the same timeframe to be eligible for the airdrop. They can monitor their standings through a scoreboard.
According to the outlined terms and conditions: If a player bets $100,000 while the airdrop is live, and there are 1,000,000 eligible participants, that player stands to gain 10% of the prize pool, equating to 10,000 USDT.
What’s Ahead for WSM?
Wall Street Memes holds the title for the largest ICO ever conducted for a crypto token, with a vast and engaged community exceeding numbers in the millions. 500,000 Instagram fans and almost 300,000 Twitter users Notably, Elon Musk has taken notice of this burgeoning activity and has interacted with the WSM account on Twitter.
Photo: Wall Street Memes Casino
The Burn Cycle
The team behind Wall Street Memes has innovated a distinctive method for burning tokens that could significantly influence their long-term value. The substantial NGR reduction is one prime example.
The development team's objective with these token burn initiatives is to lessen the overall supply of WSM in circulation. Reducing the supply could positively affect the token's future value, benefiting users in the long term.
For transparency, the platform permits users to monitor burn events through the WSM Web3 Dashboard. This resource empowers token holders to observe the progression of the burn events and their implications on the tokenomics of this community-driven cryptocurrency.
Nevertheless, WSM currently faces hurdles in bouncing back from the steep decline experienced in April. It will be intriguing to see how effectively the project can advance, primarily relying on its dedicated community. Given that several other meme coins have begun to reverse their downtrends, it is likely that WSM will soon follow suit.
Disclaimer
In line with the Trust Project guidelines , keep in mind that the information provided on this page does not serve as and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is essential to only invest what you can afford to lose and to seek independent financial counsel if you have any uncertainties. For more information, we recommend reviewing the terms and conditions and the help and support resources offered by the issuer or promoter. MetaversePost is committed to delivering accurate, impartial reporting; however, market dynamics are subject to unforeseen changes.
