The Wall Street Memes presale is moving ahead at a rapid pace, breaking this year’s token sale records. At the time of this writing, it has already crossed $4,146,143.48 and is on its way to breaking past the $5M milestone in the next few hours.
According to many Twitter users, Wall Street Memes presale cashes in on the multiple nods from tech mogul Elon Musk, as the one below.
But the project clearly has more going. For example, the Wall Street Memes community has a history of selling out its first NFT collection, Wall St Bulls (on Ethereum), within 32 minutes in 2021. Yes, Elon Musk’s interactions have helped the presale progress of $WSM, the meme coin launched by the community. But more than that, it unlocks the community strength of the Wall Street Memes movement.
Here is a closer look at the project and why it is projected to catalyze a massive meme coin explosion toward the last quarter of 2023.
Wall Street Memes has solid community backing
Unlike the myriad of meme coin projects in the market, the Wall Street Memes community didn’t come into being based on Elon Musk’s tweets. For example, a few weeks back, his nod to Milady NFTs spawned multiple meme coins overnight. Not that it’s a bad thing. Because a few of these projects went on to make triple-digit returns within hours.
But Wall Street Meme’s popularity goes back to before Elon Musk’s interactions with its Twitter community. In fact, we could say that the massive popularity of the global community of investors and traders drew Elon Musk in. A quick scroll through the online community, spread across Twitter, Instagram, Telegram, and Discord reveals why. The memes are quirky and funny, often themed around Wall Street, capitalism, and the shortcomings of the global economy. They take a dig at centralized economic policies and the double standards of lawmakers and financial institutions.
Take a look at this one, for example.
— Wall Street Memes (@wallstmemes) June 4, 2023
The hilarious memes have a large global community of over 1 million followers. So it doesn’t come as a surprise that celebrities like Elon Musk continue to interact with it. $WSM is a meme coin launched by the team behind the meme project with the intention of ‘giving back’.
Meme coins are the most prominent crypto niche that has brought triple-digit and four-digit returns to investors this year. Projects like Pepe and SpongeBob Token proved how the crypto community can kindle a global movement. It is in line with the Wall Street Meme’s vision:
“The little guy challenged Wall Street in the infamous GameStop fiasco of 2021, and the legacy of those brave Wall Street Bets heroes endures until today. Born out of that movement is Wall Street Memes – the ultimate expression of the internet’s triumph over rampant capitalism. “Greed is good,” said Gordon Gekko in the ‘80s as he got rich off useless stocks. Around 30 years later, hundreds of arguably even more useless meme coins allow ordinary people to do the same.”
By tokenizing the movement, Wall Street Memes aims to give multifold returns to its community. Although it has a large foothold that is not confined to the crypto market, traditional investors are joining the presale to unlock the meme coin hype. In fact, Wall Street Memes is one of the few projects that have managed to penetrate traditional users this year. That is also one of its biggest competitive advantages against other meme coins.
But no utility, purpose, or futile promises
Another key attraction of Wall Street Memes is its straightforward roadmap without frills. As you can see, the roadmap hasn’t mentioned any utility or use case of the token. It doesn’t promise to deliver everything under the sky within the first four quarters after the token launch like most, if not all crypto projects.
Instead, Wall Street Memes is direct and transparent in its approach. $WSM is a meme coin that is primarily built on community strength and support. There is no planned utility for the token. No ecosystem supports its value. It plans to build and sustain its value through a widespread community reward mechanism like the $50,000 airdrop that is now live.
The lack of mention of use cases on the roadmap may not be permanent. We can expect the token to launch an ecosystem in line with the central theme of the community. It could be a play-to-earn ecosystem or anything else that sparks a laugh. Another strong possibility is the adoption of the meme coin as a payment crypto on online websites like BTC, ETH, and DOGE.
That could happen even before the meme coin enters the top-50 crypto chart in the second half of 2024, as predicted by top crypto publications. The token has the potential to make its way to external play-to-earn sites (like gambling and sports betting platforms, in particular) soon after its launch if the 20-30X price predictions come true.
This is how $WSM builds sustainable value
The integration of the meme coin into popular platforms will further drive the value of the token. That said, $WSM can grow and expand, tapping into community power alone.
The project’s compelling value proposition to help “holders get rich while still enjoying the top-tier meme content created by the Wall Street Memes team” has resonated with a large audience. It reflects not just in the presale progress, but also the rising engagement in its online community.
The project’s strongest support pillar will be its young and diverse followers. The funny memes that cater to people interested in new and experimental investments will create large-scale exposure for the token in the coming stages. Wall Street Memes is a good example of how far virality and global coordination can take a crypto project. According to industry analysts, the presale hype will fuel in the coming days, sending it to an early sell-out. The massive speculative potential is unprecedented in the market this year.
$WSM is widely predicted to enter the top-3 crypto chart within a month of its release, overtaking Pepe. Although the DEX launch is scheduled for the fourth quarter, it could go live much earlier at the current pace of the presale. While some analysts predict Wall Street Memes to dethrone Shiba Inu toward the end of the year, that seems like a long shot. It will take at least a year of consistent growth for the token to dream of the second position on the meme coin chart.
But being an early-stage project, $WSM is well-positioned to bring more returns to early investors than any other meme coin this year.
- It has a solid community of more than 1 million that goes back to 2019.
- The community is mostly made up of investors and traders, including speculative participants.
- The Wall Street Memes community has a history of selling out its first NFT collection, Wall St Bulls (on Ethereum), within 32 minutes in 2021.
Will DOGE, SHIB, and PEPE investors fuel the next phase of $WSM presale?
The $WSM presale has a hard cap of $30,577,000. It is divided into thirty stages with a gradual price hike from $0.02500000 to $0.03370000. (The earlier you buy into the presale, the higher the token discounts. Now in the eighth stage, the presale is moving ahead at a rapid pace with the support of the existing Wall Street Memes community primarily.
But that is likely to change in the next few weeks as veteran meme coin investors join the token sale. It will be fueled by the persistent lukewarm performance of established meme coins like Dogecoin and Shiba Inu. The possibility of whales dumping these tokens to capitalize on the rising momentum of Wall Street Memes can’t be ruled out either. As whales flock to the presale, the progress will gain speed, jumping stages within hours.
The team has set aside 50% of the token supply to the presale to ensure that retail investors make the majority of $WSM investors. The 30% set aside for the community rewards further safeguards the project against whale dumps.
You can stand a chance to win up to $10,000 by participating in the ongoing Wall Street Memes giveaway. Five lucky participants who complete the listed (community-building) tasks under the gleam contest will win the prize. The contest, divided into five stages, will be live throughout the presale. Check out the official website for more details.
