WSM Crypto: The Viral Meme Coin Surpassing $5 Million in Investments on Wall Street

Cryptocurrencies are digital assets that use cryptography to secure transactions and control the creation of new units. They are decentralized, meaning they are not controlled by any central authority or intermediary. They are also volatile, meaning they can experience significant price fluctuations in a short period of time.

One of the latest cryptocurrencies that has been gaining attention in the crypto space is WSM, also known as Wall Street Memes. But what is WSM, and what makes it different from other cryptocurrencies? In this blog post, we will give you an overview of the project, its features, its controversies, and its price performance.

What is WSM?

WSM is the native token of Wall Street Memes, a community-driven project that aims to tokenize the movement of meme stocks and crypto. Wall Street Memes is inspired by the Reddit subculture that grew out of the infamous GameStop fiasco of 2021, and the legacy of those brave Wall Street Bets heroes that still endures today.

Wall Street Memes is described as a viral meme coin that represents a bold ideological stand, enabling token holders to fight back against the powerful capitalists. The project features a cute wolf mascot with big eyes and a conscience, as well as a range of NFTs (non-fungible tokens) that showcase original artwork of memes and other characters.

The project states that its mission is to democratize finance and empower the masses to take control of their own money. The project also claims to donate a portion of the fees collected from transactions to various animal welfare organizations.

WSM is an ERC-20 token that runs on the Ethereum blockchain. It has a total supply of 2 billion tokens.

What are the features of WSM?

WSM has several features that make it unique and attractive for crypto enthusiasts and meme lovers alike, such as:

• WSM has a deflationary mechanism that reduces the supply of tokens over time. Every time a transaction occurs on the WSM network, 1% of the transaction amount is burned (destroyed) permanently. This creates scarcity and increases the value of the remaining tokens.
• WSM has a charitable mechanism that donates a portion of the fees collected from transactions to various animal welfare organizations. Every time a transaction occurs on the WSM network, 1% of the transaction amount is sent to a charity wallet that distributes funds to different animal charities every month. This creates social impact and aligns with the WSM values of compassion and kindness.
• WSM has a community-driven mechanism that empowers its users to participate in the governance and development of the project. Every time a transaction occurs on the WSM network, 1% of the transaction amount is sent to a reward pool that distributes tokens to active users who contribute to the project through voting, staking, marketing, or other activities. This creates engagement and loyalty among the users.

What are the controversies of WSM?

WSM has been surrounded by controversies since its inception. Some of the issues that have raised concerns among the crypto community are:

• The anonymity of the team behind the project, which makes it hard to verify their credibility and accountability.
• The off-chain presale of the tokens, which took place on a third-party platform without any smart contract or escrow mechanism to ensure transparency and security.
• The multiple delays of the launch date, which have caused frustration and suspicion among the investors who have already paid for their tokens.
• The lack of a clear roadmap or whitepaper, which makes it difficult to assess the viability and potential of the project.
• The questionable audit report by Solidity Finance, which pointed out several red flags and risks associated with the project.

What is the price performance of WSM?

The price performance of WSM has been volatile and unpredictable since its launch. According to CoinGecko, the highest price paid for WSM was $0.00092768 on May 10, 2023, which represented an increase of over 1,700% from its initial listing price of $0.000015 on May 8, 2023.

However, since then, the price has dropped significantly, reaching a low of $0.00011336 on August 3, 2023, which represented a decrease of over 87% from its all-time high. As of August 15, 2023, the price of WSM is $0.00011746, with a market cap of – and a daily trading volume of $110,718.

Analysts attribute the wild fluctuations in WSM’s price to various factors, such as market sentiment, hype cycles, news events, regulatory uncertainty, and technical issues. Some experts believe that WSM has the potential to grow further if it can overcome its challenges and deliver on its promises. Others are more skeptical and warn investors to be cautious and do their own research before investing in such a risky and unproven project.

Conclusion

WSM is a new meme coin that aims to combine the benefits of cryptocurrency and meme culture in one platform. It has a deflationary, charitable, and community-driven mechanism that makes it unique and attractive for crypto enthusiasts and meme lovers alike.

If you are interested in investing in WSM, you need to do your own research and due diligence before making any decision. You should also be aware of the risks involved in investing in any cryptocurrency, especially new and unproven ones