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- Insights
- Cryptocurrencies
- Stocks
- White Papers
- Industry
- Geography
Anyone who is aware of the latest news in the cryptocurrency market has heard of the lawsuit filed by the SEC against Binance, the world's largest exchange, and its CEO, Changpeng Zhao. The largest cryptocurrency exchange in the world is once again embroiled in a legal tussle. This piece of news has affected many cryptocurrencies, including PepeCoin, which has suffered a 1% price decline. This has led many to look at other options, including the Wall Street Memes Token ($WSM).
As mentioned before, the SEC accused Binance and its CEO of operating an illegal crypto exchange using billions of dollars in customer funds, misleading investors and not following securities laws. The lawsuit included 13 charges against Binance and CZ. As soon as the news was out, shockwaves were felt across the crypto market due to Binance being one of the largest platforms in the market.
Binance also hosts thousands of crypto pairs, including PEPE/USDT. Observers say that many investors panicked and sold their PEPE coins, which caused its price to drop by 15% following the announcement. It also suffered declines in its market cap ranking and trading volume.
However, not all meme coin enthusiasts were discouraged by the SEC lawsuit against Binance. Some saw an opportunity to shift their focus to another meme coin gaining traction for different reasons – Wall Street Memes ($WSM).
While investing in cryptocurrencies is always risky, the risks multiply when investing in meme coins, which have few or no use cases to offer. This has been seen in the cases of meme coins such as Shiba Inu and Dogecoin, which have seen their fortunes sink.
However, since the start of the year, meme coins have started coming up with utilities and use cases, while still retaining their fun appeal. This created the circumstances for Wall Street Memes Token to enter the market, quickly becoming one of the most talked about meme coins in the market.
Claiming the title of "king of memes", the story behind $WSM is a strong and resounding one that embodies the very essence of the internet meme culture. Its origins can be traced back to the massive shorting of GameStop (GME) by hedge funds and big investors in the market. To block this selling pressure, a group of investors from the subreddit r/wallstreetbets started buying GME stock until it reached a peak of $347.51.
After the incident, a revolution started on Wall Street that challenged the status quo of the present financial industry. The Wall Street Memes Token is a representation of the internet's victory over capitalism. $WSM, the native token of the project, allows those users to tokenize this movement, making it accessible to everyone to enjoy financial freedom.
Every meme coin gets successful thanks to a strong community behind it. Apart from the strong support it already has, the project also has hundreds of thousands of users on social media sites such as Reddit and Twitter.
With so many users planning on making this meme coin viral, it's no surprise that the meme coin is attracting so much attention even in its nascent stage. The team behind this project has already achieved success when it launched the Wall Street Bulls NFT collection. The collection was a massive hit, selling out within half an hour of its launch. According to data from OpenSea, a total of over 1864 ETH worth of NFTs have been traded.
Wall Street Memes Token also has a clear and ambitious roadmap that provides a clear picture of its future plans. It possesses an innovative and unique value proposition that combines the benefits and features of both stocks and crypto. It has future plans to provide a platform that will allow users to trade various tokens without any intermediaries or fees.
Every strong cryptocurrency project must have a solid tokenomic model. This is what Wall Street Memes Token has done, fixing the maximum supply of $WSM at 2 billion. It has allocated 50% for the presale, 30% for community rewards, and the remaining tokens for DEX and CEX liquidity.
The project has also launched multiple initiatives, such as the $50,000 airdrop, which is set to mint 420 NFTs later in the future. Owning $WSM tokens can also provide several benefits in the future.
The one billion $WSM tokens are split into thirty stages in the presale. They have already raised a substantial amount within the very short time the presale has been on. The project aims to raise $30 million through the event.
Analysts predict that it will reach this milestone by the next quarter of 2023, considering the growing interest in the project over the last few weeks. The price of $WSM increases after each stage is completed, with some early investors getting a 30% profit.
The SEC lawsuit against Binance has significantly impacted the entire meme coin market, with most of the meme coins suffering. While PEPE experienced a major drop in value, $WSM has benefited from this increased demand and attention. The contrast between these two meme coins is one of the biggest reasons to consider the latter as a worthy investment moving forward.
Wall Street Memes Token aims to be the biggest meme coin and attests to the success of its presale and its massive influence on the community. It has a rebellious and humorous spirit behind it. Investors can still be a part of this project by investing in its fast-selling presale event and preparing for massive gains.
