On Thursday, October 12th, 2023, the ByBit exchange launched Wall Street Memes ($WSM) perpetual futures trading, resulting in a significant price increase. The latest sensation in the world of meme coins experienced a surge of up to 19% on the ByBit $WSM/USDT perps market, driven by a growing number of traders. After a period of profit-taking, the price settled at $0.0394. Despite its recent rise, Wall Street Memes still maintains an attractive valuation with a market capitalization of $64 million, surpassing Dogecoin and Shiba Inu with $8 billion and $4 billion, respectively. Even Pepe, with a market capitalization of $245 million, falls behind. Considering this, the potential for 10x or even 100x returns at current prices is not far-fetched.

ByBit’s Prominence in the Crypto Market

ByBit, the fifth-ranked centralized exchange according to Coinmarketcap data, displayed its influence in both the derivatives and spot markets. In the derivatives market, ByBit secures the second spot with a 24-hour trading volume of $7.4 billion. The futures markets in the crypto industry consistently surpass their spot counterparts in terms of size. ByBit also holds its ground in the spot market, with an exchange score of 7.1 based on web traffic, trading volume, average liquidity, and volume data accuracy. With a 24-hour trading volume of $972 million, ByBit proves its dominance in this market as well.

Wall Street Memes embraces its mission of democratizing the financial markets, positioning itself as the champion of the little guy against Wall Street. Currently, it stands as the third-most-traded meme coin, with a trading volume of $70 million, trailing only Dogecoin and Shiba Inu. Pepe occupies a distant fourth place, with a trading volume of $35 million. The recent partnership with ByBit has propelled Wall Street Memes’ value in the spot markets by 14%. As the token continues to climb the ladder on various exchanges, a listing on more tier 1 exchanges beckons, potentially including Binance, Crypto.com, and Kucoin. The anticipation for more top exchange listings instigates a growing sense of FOMO (fear of missing out), which is likely to drive up demand and trading volumes further.

The Expanding Reach of Wall Street Memes

Wall Street Memes has successfully secured positions on popular exchanges such as OKX, HTX, and Gate.io, as well as nine others. In the derivatives markets, MEXC, OKX, BitMEX, and now ByBit lead the way. By trading with Wall Street Memes on ByBit, traders can leverage up to 25x, enhancing their potential returns. It is evident that Wall Street Memes has crafted a strategic approach to ensure its presence across multiple platforms, targeting different segments of the crypto market.

The Wall Street Memes project boasts an engaged community of over 1.1 million followers across platforms such as X, Instagram, Telegram, and Discord. The recent short squeeze campaign carried out by the Wall Street Memes team received positive engagement from the community, further affirming its potential. The project draws inspiration from the success of meme stocks like GameStop and AMC, aiming to replicate the frenzy in the crypto market. With its community-led buying spree during the short squeeze, Wall Street Memes managed to generate significant trading volume, setting the stage for future endeavors.

Moreover, the Wall Street Memes team has recently announced the impending launch of a major product, scheduled for Wednesday, October 18th, at 15:00 UTC. While specific details about the product remain undisclosed, the team’s excitement hints at potential breakthroughs and innovations in the crypto industry.

Crypto analyst No Bs Crypto, with 35,000 subscribers, has revealed his investment strategy by purchasing $1,000 worth of $WSM tokens. His decision is grounded in observing the noteworthy performance of meme coins like Pepe, which surged by 5,000,000%, and Shiba Inu, which recorded a staggering 46,000,000% increase in 2021. Even a fraction of such returns has the potential to yield life-changing profits for investors entering the market today. The consistent rise in trading volumes serves as a solid foundation for potential price growth. Furthermore, the upcoming product launch adds to the overall optimism surrounding Wall Street Memes.

Wall Street Memes emerges as a dynamic and promising player in the crypto market. With its increasingly attractive valuation, growing community engagement, and partnerships with prominent exchanges like ByBit, the future looks bright for this meme coin. As the token continues to gain momentum and secure additional listings on tier 1 exchanges, investors and enthusiasts are advised to keep a close eye on Wall Street Memes as the next price explosion approaches.

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