Meme coins continue to reign supreme in the market, with tokens like Dogecoin and Shiba Inu demonstrating the incredible power of retail traders.
The latest to join this exciting market is Wall Street Memes (WSM) – a new community-driven token that has already amassed over $2 million through its presale.
Given its early success, Wall Street Memes is already being compared to the ultra-popular Pepe coin, which produced exponential returns for investors in mid-April.
Early Presale Success As WSM Takes Flight
Wall Street Memes’ presale only kicked off on May 26, yet investors have been coming in their droves to snag some WSM tokens while they’re being offered at a low price.
This presale is split into 30 stages, each with its own price point. By taking this approach, Wall Street Memes’ team aims to reward those who show early faith in the project.
The response to the presale has been immense – with over $2.1 million in funding raised in only six days.
This means that Wall Street Memes is raking in an impressive $350,000 daily from presale investors.
The early success of the presale has also sparked rapid growth in the Wall Street Memes community, which is already over one million strong, thanks to the previous success of the Wall St Bulls NFT collection.
Wall Street Memes’ official Telegram channel has seen a massive influx of new members over the past few days, while the project’s Instagram page now boasts over 523,000 followers.
The exponential growth of the Wall Street Memes community, coupled with the early success of the project’s presale phase, has led many in the investment community to speculate that WSM could be poised to replicate Pepe’s success.
Colossal Community Propels Wall Street Memes Higher
As mentioned above, Wall Street Memes benefits from a previously-established community spread across various social media channels, like Twitter and Instagram.
This community was inspired by the GameStop saga of 2021, where individual investors challenged the big dogs on Wall Street – and won.
Now, Wall Street Memes’ team aims to empower the community and reshape the world of finance using the WSM token.
Per the project’s whitepaper, the total supply of WSM tokens will be capped at two billion. Half of these tokens are reserved for presale investors, with the other half used for community rewards (e.g., airdrops) and CEX/DEX liquidity.
Through this tokenomics setup, Wall Street Memes’ team looks to ensure that the community holds all the power – and this is reinforced by the fact that there hasn’t been any private sale before the presale commenced.
Moreover, Wall Street Memes’ team hasn’t reserved an allocation of WSM for themselves, demonstrating their long-term commitment to the project.
Buzz Around WSM Reaches Fever Pitch After Influencer Backing
Given the sheer scale of the Wall Street Memes community, it’s no surprise that it has attracted attention from influential figures who recognize the power of meme-driven movements.
One notable example is Elon Musk, who has interacted with the Wall Street Memes community on Twitter several times.
The attention Wall Street Memes has garnered from Musk, a figure commonly considered the epitome of meme culture, stands as a powerful testament to the community’s influence on social media.
Naturally, this has led to intense speculation among crypto analysts about where the WSM token could go once listed on popular CEXs and DEXs in Phase 2 of the project’s roadmap.
YouTuber Crypto Gains, who has over 106,000 subscribers, released a video where he hinted that WSM could perform really well if the momentum continues.
In addition, crypto influencer Jacob Bury tweeted that WSM is “going to go wild” – and even speculated that the token could be listed on Binance in the future.
Ultimately, whether or not WSM will hit the heights forecast by Crypto Gains and Jacob Bury remains to be seen. However, one thing is for sure – the eyes of the crypto world are now firmly fixed on Wall Street Memes as it continues to make headway in the market.
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