As a whole, the crypto market has had a good recovery in 2023. Coming into the year, things were as bleak as they had ever been, but this year as a whole has been quite positive, considering that the volatile nature of the market will provide ups and downs.
The main success story of the first two quarters and a bit has been the witnessing of the rise of top meme coins.
A combination of new projects diversifying and changing the definition of what we think a meme coin is and the success of Pepe Coin has allowed tremendous growth in the sector.
It is probably no coincidence that considering this growth that the team behind Wall Street Memes ($WSM) decided to launch their first crypto project.
Number of Large Crypto Investments Likely a Whale
As we can see from the screengrab above, a number of different wallets bought up 460 ETH worth of $WSM, which translated to $840,000 worth of the meme coin. Due to the large nature of each purchase and the fact they all came within a six-minute period, it is more than likely one buyer.
It is just another factor that shows how strong Wall Street Memes has the potential to be. The presale has just past two months since its beginning and just past $20 million thanks to the whale investment.
This investment will likely trigger a flood of other investors who have been monitoring the presale. Even though $20 million has already been raised, we still have a third of the amount still to go, as the hard cap is set at $30 million.
Why Wait Until Now After $WSM Had Success with NFTs?
The Wall Street Memes team has previous experience venturing into the crypto world. In 2021 they launched an NFT collection that sold out in 32 minutes. This is an incredible success, so why wait until now to try their hand with their own crypto coin?
The people behind Wall Street Memes clearly have their wits about them. The meme coin market back then was very different from now. Dogecoin and Shiba Inu were the only two meme coins experiencing sustained success but now the meme coin market has been blown open, and new crypto projects are seeing serious success almost instantly.
There was a clear change in new meme coin projects at the start of 2023 as many of them started to add utility. It looked like meme coins that just existed to pump were about to become extinct, and these new projects would take over as better options.
Shiba Inu was announcing plans to add utility to its ecosystem through a layered network and other initiatives. The tides looked like they were changing.
Then came Pepe Coin. A meme coin with no utility that no one had heard of. As all you readers likely know, Pepe pumped by a historical amount and made early investors millionaires. We still don’t know why it was chosen by inventors, but the most reasonable explanation is it was a mix of FOMO and being in the right place at the right time.
Either way, whatever the reason, it caused a torrent of investors to pour into the meme coin market, and suddenly, we had enough room for the new and traditional type of meme coins. It is likely no coincidence that about a month later, Wall Street Memes announced they would be launching their own meme coin.
The Measurables And Immeasurables That will This Crypto Pump
With over 1 million followers across their social media following, Wall Street Memes ($WSM) already brings a huge community with them to the crypto market.
The reason Dogecoin has remained the number one meme coin for so long is that it was the first meme coin and has a huge online presence that helps keep its market cap high.
It is nearly impossible for new meme coins to challenge Dogecoin as there are just so many projects it is hard to capture an entire audience.
Their online presence came about after a bunch of Redditors decided to pool together and take on Wall Street in 2021, which led to the bankruptcy of one major hedge fund. They have always wanted to represent the people, and that is reflected in their tokenomics.
100% of the tokens will be for their investors, with none going to any special client’ or anything else suspicious. 50% of the total allocation will be sold during the presale, 10% for CEX liquidity, and 10% for DEX liquidity.
A massive 30% will go to community rewards which will likely include airdrops and other such events. It goes to show again the commitment the project has to its investors and the everyday man.
Its following and its tokenomics are measurable ways we can predict the success of $WSM, but let’s look at some immeasurables that give the project unlimited potential.
The ready-built online following is what could give Wall Street Memes the edge and what has investors so excited. The Twitter account, which has over 255k followers, is already one of the most popular crypto platforms on the internet. Having this as a base to promote their coin gives them a huge amount of power.
That account is also followed by influential members of the crypto community, such as YouTubers and marketplace sites like Cameron Fous and Magic Eden. If these kinds of accounts interact with Wall Street Memes content, then its reach expands even further, and so does its potential for gains.
Wall Street Memes even has a white whale of sorts. Elon Musk, owner and most followed account on Twitter, has arguably more sway in the crypto community than any other individual. He is known to be a Dogecoin supporter and has influenced its price in a positive manner on numerous occasions.
He is also a fan of Wall Street Memes and has interacted positively with their content on multiple occasions. If he was to change teams and support Wall Street Memes expect the coin to pump more than any other meme coin in history.
>>>Visit Wall Street Memes Presale
Conclusion
The market is a little bearish at the moment, so it is always good to look at presales during these times. The Wall Street Memes presale has just surpassed $20 million raised, but there is still time for potential investors to get involved.
Everything about this coin so far suggests it could be a once-in-a-generation meme coin that could go right to the top, so make sure not to miss out. Find out how to buy Wall Street Memes here.
