In a major development that has sent shockwaves through the DEX markets, the leading ZKSYNC DEX stablecoin USD+ has experienced a destabilization, resulting in seismic price moves. The occurrence comes at a significant period for stablecoins, as they are increasingly being mainstreamed through the emergence of government-issued CBDCs. Amidst this backdrop, USD+ is currently trading below-price at $0.9952, as algorithms attempt to stabilize against a backdrop of more than 600,000 transactions.
Last night, there was a substantial de-pegging incident, with USD+ plummeting to a shocking $0.8. The stablecoin’s algorithmic peg appears to be under attack from DEX pressures. This is not the first time USD+ has encountered trouble; it has experienced a de-pegging incident for 35% of August across multiple occasions. On August 4, USD+ experienced a steep decline of -99.61% over a four-day period. However, the project’s developers were able to restore the critical peg, bringing some stability back to the token.
The turbulent algorithmic peg of USD+ has led to frenzied performance. As developers fought to correct the third de-pegging incident that occurred yesterday, USD+ saw a surge of over +1,270%. While USD+ continues to make waves in DEX markets, dominating movements in a titanic algorithmic fight, some traders are diverting their attention to another token tipped to be the biggest meme coin presale of 2023.
As the meme coin vertical takes on renewed momentum, one project stands out amongst the rest – Wall Street Memes (WSM). Although Dogecoin and JIM are well-known names in the market, WSM has generated significant buzz on Crypto Twitter and become a top choice for the biggest coin launch of Q3 2023. The $WSM token community has already reached the impressive milestone of one million individuals, and its presale has exceeded all expectations, raising over $23.7 million.
The staggering success of WSM’s presale funding is rare for new meme coin projects that have yet to hit the DEX markets. Investors are taking notice because WSM aims to channel the anti-bank sentiment of the Wall Street Bets community into a tangible asset. Its objective is not only to tokenize the anti-bank movement but also to reshape our perception of digital value.
One of the primary reasons attracting investors to WSM is its democratic price point. Priced at just $0.0331, the WSM presale has gained momentum, with $23 million already raised. Moreover, the speed of the presale’s growth indicates the potential for lucrative gains, particularly for presale investors who benefit from a built-in +30% bonus during the initial listing.
Remaining true to its anti-bank philosophy, WSM plans to allocate 30% of the token supply to community rewards and dedicate an additional 20% to liquidity. The remaining 50% is available in the presale, making it a project designed for the masses. This lack of a team split has propelled the explosive growth of the Wall Street Memes community on social media, with over 1 million followers.
This exponential community growth suggests that major CEX listings, such as Gate.Io, may be incentivized to include WSM. Such listings could potentially propel the $WSM token on an incredible moonshot trajectory. Leveraging the success of the Wall Street Bets NFT collection, Wall Street Memes has established a solid track record. It continues to capitalize on the original moment in history when $WSM burst onto the scene.
Don’t miss out on the opportunity to secure a slice of the next skyrocketing meme token – buy $WSM today.
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