New Meme Coin Pepe of Wall Street Starts Trending – Is Wall Street Memes Next to Explode?
Meme coins, often created as jokes or for the fun of it, have become an important part of the cryptocurrency market. Unlike traditional cryptocurrencies like Bitcoin and Ethereum, which offer a range of technical features and use cases, meme coins often lack functional utility.
Their popularity can skyrocket in a short period, however, turning early investors into overnight millionaires. The sudden rise of Dogecoin, Shiba Inu, and Pepe serves as an example.
Wall Street Memes, popularly known for its viral internet memes across social platforms like Instagram and Twitter, announced its entrance into the memecoin space on May 26, 2023. The platform's native token $WSM isn't the company's first venture into the digital asset space either.
In 2021, its NFT collection, "Wall St Bulls," sold out in just 30 minutes. Transitioning from Ethereum-based NFTs, the company also listed its Wall St Bulls Ordinals NFTs on Magic Eden in 2023.
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Since the announcement of the presale, more than $25 million has been raised. The presale period is still ongoing and will conclude in the upcoming weeks, with the initial exchange offering (IEO) scheduled for September 27. The initial pricing of each $WSM token was set at $0.025 and has since seen a considerable increase, with tokens now available at $0.0337.
One aspect that sets Wall Street Memes apart is its large and engaged community. With one million followers across social media platforms, the company has seen substantial backing for its new meme coin venture.
The company has laid out a structured plan for the meme coin, allocating 100% of the token supply to the community. Half of this is set aside for the presale, a fifth is allocated for liquidity, and the
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