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The recently launched meme coin $WSM from the Wall Street Meme retail investor community is taking off. The token has tripled in value since the end of the presale. In terms of 24-hour trading volume, Wall Street Memes is surpassing leading meme coins Pepe and Shiba Inu. The cryptocurrency is up 56% at the start of the weekend, with a market capitalization of $142 million. Pre-sale buyers are seeing gains of nearly three times their initial investment, with an increase of 183%. The price of WSM is expected to eliminate a zero and reach $0.10, possibly within the next few hours. Those who bought when $SWM launched on centralized exchanges like OKX are seeing over 100% returns. $WSM consistently appears among the top gainers on DEXTols and Coinmarketcap. Buy Wall Street Memes now. Token buybacks expected to further push prices up. To add to the wave of excitement, the Wall Street Memes team has just announced an exciting $1 million token buyback program. According to a tweet from the official Wall Street Memes team, these buybacks have already started. The $1 million worth of tokens will be sent to the rewards wallet on Wednesday, October 11th, to fund community rewards. BUYBACKS TO LAUNCH Oct 11th, 18:00 UTC 🚀 $1m initial buyback to fund community rewards 🔥 Buy Now ➡️ https://t.co/ffr2clEknx pic.twitter.com/xs0t55jfqm — Wall Street Memes (@wallstmemes) October 6, 2023 This action is expected to lead to an increase in short-term buying pressure in the market. Which could be good for the price outlook of $WSM. These buybacks will not be burned, which means they will not deplete the supply of $WSM. However, the increased funding for community rewards will benefit the long-term growth of the Wall Street Memes community. Which will certainly help the price of $WSM. The token was last traded at just under $0.05, with a market capitalization of about $80 million and a fully diluted market capitalization of just under $100 million. Important Wall Street Memes product launch scheduled for October. The rapid price surge follows the announcement of Wall Street Memes’ first product, which is the token buyback program. ANNOUNCEMENT 🚨 First product and buyback program launching in October! 🚀 Stay tuned for updates… pic.twitter.com/o0Js501X4Z — Wall Street Memes (@wallstmemes) September 29, 2023 Wall Street Memes already has the support of a social community with 1.1 million members, originating from the meme stock movement. The mission to democratize finance and take on Wall Street is finding a good audience in the crypto space. Additionally, the project is being boosted by the fact that Elon Musk has interacted with their account on X (formerly Twitter). There are even rumors that Musk may be one of the big buyers of $WSM. Add to that the fact that $WSM has had staking utility from the start. Unlike many disposable meme coins that lack utility features. Buying interest is further incentivized by the news that the team will be launching at least one major product in October. And will be conducting a token burn program. There were rumors of product launches during the presale, but now it’s official. A product (or products) tied to the $WSM token would increase its utility, potentially also increasing demand. While a buyback program would gradually reduce the supply of $WSM tokens, increasing their scarcity and value. Trading volume surpasses Shiba Inu and Pepe – More listings on major exchanges. As the market attracts more traders, other major exchanges, in addition to OKX and Huobi, are paying attention to Wall Street Memes. Prior to the first listing, there were rumors of a listing on Binance. After the explosive start to $WSM trading, this possibility is increasingly looking like a certainty. $WSM stands out as the top meme coin on OKX. A listing on Binance could soon permanently consolidate it as one of the main players in the meme coin world. The $1 billion valuation of Wall Street Memes may be a conservative prediction. For analysts, the team’s stated goal of achieving a $1 billion valuation may actually be a conservative target. When Pepe was listed on Binance, it soared 2,000%. But as mentioned, $WSM has utility that coins like Doge and Pepe do not have. Even Shiba Inu, which brought a 26,000% return for some early investors, has struggled to add a layer of utility, as seen in its faltering Shibarium launch. In addition to OKX and Huobi, MEXC, BitMart, LBank, and Coinex have also listed $WSM, less than a week after its launch. The more exchanges make $WSM available, the easier it will be for retail investors to buy the token. Which means it will create a virtuous circle of price increases. In terms of market capitalization, Wall Street Memes is the 7th largest meme coin. Check out the video of an expert talking about this new memecoin. Buy Wall Street Memes now. Disclaimer: This article is for informational purposes only, it does not constitute investment advice or an offer to invest. CriptoFacil is not responsible for any content, products, or services mentioned in this article. Follow CriptoFacil on
