On Thursday, October 12th, 2023, ByBit exchange launched Wall Street Memes ($WSM) perpetual futures trading, causing a surge in its price. This hot new meme coin experienced a staggering 19% increase on the ByBit $WSM/USDT perps market, reaching $0.0394. While profit-taking had previously brought the price down, it still boasts an attractive market capitalization of $64 million compared to industry giants like Dogecoin and Shiba Inu. With the potential for significant returns, investors are eager to jump on the bandwagon.
ByBit: A Leading Exchange
ByBit, the fifth-ranked centralized exchange according to Coinmarketcap data, is making waves in both the derivatives and spot markets. With a 24-hour trading volume of $7.4 billion in the derivatives market and $972 million in the spot markets, ByBit is recognized as one of the industry’s giants. This impressive response to the volume surge demonstrates ByBit’s growing traction and its willingness to embrace community-led projects like Wall Street Memes.
Wall Street Memes aims to level the playing field by championing individual investors against Wall Street. With a mission to democratize financial markets, this community-led project has gained significant attention. Its recent success in becoming the third-most-traded meme coin, with a trading volume of $70 million, speaks volumes about its growing popularity. As Wall Street Memes climbs the value chain of exchanges, listing on top-tier exchanges like Binance, Crypto.com, and Kucoin seems inevitable. The anticipation of more listings is fueling the fear of missing out (FOMO) and driving up expectations.
The Wall Street Memes community eagerly awaits the unveiling of their flagship product, scheduled for Wednesday, October 18th at 15:00 UTC. While the team has yet to release specific details, the anticipation surrounding this product launch further heightens excitement for the future of Wall Street Memes. Investors hope that this product will differentiate $WSM from other meme coins and potentially propel its market value even higher.
Insights from Crypto Analyst
Popular YouTuber crypto analyst, No Bs Crypto, has recently published a video in which he invests $1,000 in $WSM tokens. With 35,000 subscribers, his endorsement carries weight within the crypto community. Citing the extraordinary performance of coins like Pepe and Shiba Inu, which experienced astronomical percentage gains in 2021, he predicts that even a fraction of those returns could be life-changing for $WSM investors. This endorsement only adds to the increasing trading volumes and sets the stage for future price growth.
As Wall Street Memes continues to conquer the futures market, it is poised to attract larger investors and gain further recognition from exchanges yet to list the token. With a current airdrop competition offering participants a chance to win $50,000, the potential for big things is evident. While Dogecoin, with its $8 billion valuation, lacks utility, Wall Street Memes is positioned to take advantage of its unique market positioning and achieve a promising future. The excitement surrounding this meme coin suggests that a significant price explosion may be just around the corner.
Wall Street Memes has quickly emerged as a prominent player in the crypto market. Its recent listing on ByBit, its growing trading volumes, and the upcoming product launch have captured the attention of investors. While the future of meme coins can be unpredictable, Wall Street Memes has laid a strong foundation for success. With the potential for significant returns and the mission to democratize financial markets, Wall Street Memes presents itself as a compelling investment opportunity. Only time will tell if it lives up to the hype and delivers on its promises.