At the time of writing, WSM is the third most-traded meme coin according to CoinMarketCap – only behind Dogecoin and Shiba Inu
is one of the hottest cryptocurrencies of October. The meme coin made its debut a few days back and has been ruling the charts ever since.
Wall Street Memes continues to reign the meme coin charts this week. At the time of writing, it is the third most-traded meme coin according to CoinMarketCap – only behind Dogecoin and Shiba Inu. At the heart of the mechanism is the inverse relationship between supply and price, similar to the staking system that is already live. While staking limits the supply for a temporary period, burning removes the supply permanently. Investors who buy the token prior to burning will benefit from its price action, as a result.
The high market relevance of the product will shift the primary source of demand for the meme coin from speculative investors to platform users. It will be central to ensuring the long-term growth of WSM in the turbulent meme coin market. One of the key factors that set apart WSM from its competitors is its focus on sustainability. It has been clear since the presale stage that WSM doesn’t plan on being just another fleeting meme coin sensation.
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