Wall Street Memes Completes Token Burn Following Community Vote
Wall Street Memes ($WSM) has recently conducted its first major token burn after a community vote, as announced on the project’s official Telegram channel. The team behind the meme coin burned 2,257,336 $WSM tokens (worth nearly $80,000), which accounted for 10% of the rewards wallet. The project introduced a token buyback scheme earlier this month, causing a surge in the $WSM token price and generating excitement about its potential deflationary nature.
Community Votes Determine the Fate of Tokens
The Wall Street Memes community will now participate in weekly votes on the project’s Telegram channel to decide what should be done with the bought-back tokens. The options include burning more tokens to increase the value of $WSM or adding them to Wall Street Memes’ reward program. This move highlights the community-driven nature of the project.
ByBit Listing and Expansion to 14 Exchanges
The latest token burn coincided with ByBit, a tier 1 cryptocurrency exchange, listing $WSM perpetual futures on its platform. This development allows traders to access significant leverage when trading $WSM. Additionally, $WSM is now listed on a total of 14 exchanges, showcasing its growing popularity in the crypto market.
Earn Passive Income with $WSM
In addition to being deflationary through its token buyback scheme, $WSM offers one of the best passive income opportunities in the crypto market. Investors can stake their tokens and currently earn an impressive 43% APY through Wall Street Memes’ official staking program. These features have contributed to $WSM becoming the fourth most traded meme coin in terms of trading volume.
Anticipation Builds for Upcoming $WSM Product Launch
The Wall Street Memes team is generating excitement with the upcoming launch of a new Web3 product that will use $WSM as its native token. While details about the product remain undisclosed, the community’s strong marketing capabilities are expected to drive significant usage and increase demand for $WSM. This launch could further propel $WSM’s growth and potentially surpass rival meme coins like Dogecoin, Shiba Inu, and Pepe.
Hot Take: Wall Street Memes Empowers Community with Token Burn and Anticipated Product Launch
Wall Street Memes has demonstrated its commitment to community involvement through its recent token burn, which was determined by a community vote. This action, combined with the upcoming product launch, has generated excitement and positioned $WSM as a unique meme coin in the market. With its deflationary mechanism, impressive APY for staking, and potential for future growth, Wall Street Memes is poised to make a significant impact in the crypto space.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.