A whale plowed in $840,000 to the Wall Street Memes presale this week.
Over a period of just five minutes, the investor gobbled up 460 ETH worth of WSM tokens. The purchase was made from five different wallets as part of a coordinated move.
Whale invasion is expected to gain momentum in the coming days, as the WSM presale moves to the last phases. Wall Street Memes has raised $20M out of its massive public presale target of $30M so far.
What you'll learn 👉
Presale to end soon?
With the community euphoria around the meme coin peaking, Wall Street Memes presale will sell out in a few days. $30M is an ambitious target for a public presale. Most projects don’t dare to aim for that big an amount.
But Wall Street Memes’ strong foothold among investors and traders helped it cross the $20M milestone ahead of schedule. There is less than $10M more to go now. At the current pace, the presale will sell out in August. It will be followed by a tier-1 token launch, which market analysts believe will lead to a 15X-20X surge in the first week.
The real potential of the meme coin, however, will be revealed in the following weeks. There are compelling reasons that suggest WSM is heading for a 70X–100X explosion, dethroning PEPE to become the biggest meme coin phenomenon of 2023.
Internet’s most powerful retail investing community
WSM has broken records this year with its viral presale. As mentioned above, the fundraising target of $30M is too ambitious for a public presale. But by now, it has become obvious to the crypto community that it won’t be long before the meme coin accomplishes its target. That too, ahead of schedule.
How did it do this?
More importantly, how did it dare to do this?
The answer needs a closer look at the Wall Street Memes online community – one of the internet’s most powerful retail investing communities. It is home to more than 1 million followers from around the world.
The hilarious memes posted on the Wall Street Memes pages often take digs at the double standards of governments, lawmakers, and even investors. Since the page was launched in 2019, the viral memes have been building a solid community of young retail investors.
Here is a glimpse of what the hype is.
The important thing to note is that the Wall Street Memes community has been in existence years before the Wall Street Memes token. So, yes, the community birthed the meme coin. Not the other way around, as we see in the case of most meme coins.
Why does it matter?
Meme coins are highly speculative assets. They rely on community hype to create value. In fact, utility is largely unheard of in the meme coin sector. But a deep dive into the meme coin history reveals that most of these communities disintegrate within days of the token launch.
As expected, that leads to a steep collapse of their price on minor triggers, wiping out wallets overnight. In fact, Dogecoin and Shiba Inu have been the only meme coins to stand the test of time. Although they were launched as meme coins, they have utility today as payment currencies on shopping websites and casinos.
That wouldn’t have happened if not for the community.
Wall Street Memes is the only cryptocurrency of recent times that stands a chance to join Dogecoin and Shiba Inu. Being backed by a community of retail investors than meme coin hoppers, WSM has higher long-term relevance.
The $20M milestone is a vote of confidence for the project.
Elon Musk and Wall Street Memes
Elon Musk is equally loved and hated in the crypto community for his influence on the price of meme coins. He has played an important role in onboarding traditional investors to cryptocurrencies. Dogecoin has benefitted from his nods the most.
Since the Wall Street Memes presale launched, there have been rumors that the tech mogul is linked to the meme coin. A closer inspection reveals that it’s baseless.
Elon Musk is not directly involved with the project. He has only engaged with the community’s posts multiple times in the past. Needless to say, that has catalyzed the WSM hype. As bizarre as it is, that’s all it takes to pump a meme coin.
But Wall Street Memes is a meme coin that can stand on its own feet. The project wouldn’t have secured $20M from the public just because of a narrow thread that connects to Elon Musk. There’s a lot more going on.
Community comes first
WSM was launched as an opportunity for the Wall Street Memes community to harness the meme coin hype.
As part of this, 100% of the $WSM token supply is dedicated to the community. In other words, no discreet private sales preceded the presale. Neither is there a dedicated team allocation in the WSM tokenomics. It rules out the chances of a rug pull.
WSM is hosting one of the fairest presales of 2023.
- 50% of the token supply is made available to the public in the presale at discounted prices. The raised money will be used for marketing campaigns.
- 30% is dedicated to community rewards and airdrop campaigns. The large allocation encourages investors to hold their tokens after the token launch.
- 10% for CEX liquidity.
- 10% for DEX liquidity.
Don’t miss the $50,000 WSM airdrop
Wall Street Memes reward campaigns have begun.
The first of these has $50,000 worth of $WSM up for grabs. The contest requires participants to follow the steps detailed on the official Wall Street Memes website. Five lucky participants will have $10,000 dropped into their wallet.
What do analysts say?
Mainstream crypto analysts are optimistic about WSM’s explosive potential.
For example, acclaimed presale analysts Jacob Crypto Bury and Crypto Dose forecast a 10X climb for WSM on its initial exchange listings. If $WSM lists at $0.0337, it needs to reach a fully diluted market cap of just $674 million to earn 10X gains for presale investors. In that case, 10X is a modest ambition for WSM. Currently, the meme coin is selling for $0.0328 in the presale.
But WSM can do better than that to outperform Pepe as this year’s biggest meme coin phenomenon according to some analysts. Given the community’s strong social media presence, 50X-80X is an ambitious, yet realistic goal that would take WSM to the elite Top-3 list along with Dogecoin and Shiba Inu. A strong catalyst like a Binance listing will precede the bull run as in the case of Pepe.
Crypto influencers like Michael Wrubel, CryptoWendyO and Cilinix Crypto are also positive about the meme coin.
WSM presale supports purchases in Ethereum blockchain and BNB Smart Chain using ETH, BNB or USDT (ERC-20 or BEP-20).
Other meme coins to keep an eye on this month
1. Shibie Coin ($SHIBIE): Shiba Inu-Barbie crossbreed that capitalizes on the hype around the much-awaited release of Barbie. The presale target is set remarkably low at just $999,999, leaving large room for returns to early investors. The presale will be live for just one week.
2. Chimpzee ($CHMPZ) – A meme coin dedicated to saving wildlife. The project’s goal is to encourage more people to join its wildlife conservation initiative by giving attractive passive income.
3. XRP20 – If you are looking for a meme coin that doesn’t fit the existing norms. XRP20 is touted as the ‘next evolution of XRP’. The stake-to-earn ERC-20 token comes with utility for retail investors, unlike XRP which focuses on legacy financial institutions.
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