Retail investing community Wall Street Meme’s newly launched $WSM meme coin is in blast-off mode, up 3x since presale.
In 24-hour trading volume, Wall Street Memes token is bigger than top meme coins Pepe and Shiba Inu.
The token is up 56% at the start of the weekend at $0.071 for a market capitalization of $142 million.
Early presale buyers are sitting on gains of nearly 3x after a 183% price surge, with the price set to kill a zero to reach $0.10, possibly in the next few hours.
Those who bought when $SWM launched Tuesday on centralized exchanges such as OKX are sitting on a return of more than 100%.
$WSM reached an all-time high to date of $0.089 at 7am UTC.
$WSM is consistently trending in the top gainers on DEXTols and also on Coinmarketcap.
The rapid price charge comes after Wall Street Memes teased the launch of its first product and a token buyback program that is set to launch in October via a post on X (formerly Twitter).
Wall Street Memes is already backed by a 1.1 million strong social community that grew out of the meme stocks movement. Its mission to democratize finance and take on Wall Street is finding an eager following in the crypto space.
Also, the project is being helped by the fact that Elon Musk has interacted with its X (formerly Twitter) account. There are even rumors that Musk may be one of the whale buyers of $WSM.
Add to that the fact that $WSM has staking utility out of the box, unlike many throwaway meme coins that have no utility features.
Buying interest is being further incentivized by the news that the team will be launching at least one major product in October and undertaking a burn program. There were murmurs about product launches during the presale, but it is now official.
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