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Wall Street Memes: A Rising Star in Meme Coin Trading

Discover the rapid ascent of Wall Street Memes as a top-traded meme coin and its potential future in the crypto market.
Published on 2023-10-03

Wall Street Memes' Impressive Market Entry

Wall Street Memes ($WSM) has swiftly climbed the ranks to become the fourth most traded meme coin globally. This remarkable achievement occurred just six days after its listing on the OKX exchange. The surge in trading volume is notable, with nearly $60 million worth of $WSM traded since its listing on September 26.

Comparative Trading Performance

In its early days, $WSM's trading volume has compared favorably against established meme coins. While Pepe recorded $79 million, Shiba Inu saw $103 million, and Dogecoin reached $222 million in trades, $WSM surpassed Pepe and Shiba Inu in 24-hour trading volumes over the weekend. This performance has fueled speculation about potential listings on other major exchanges like Binance and Kucoin.

Strategic Exchange Listings

Currently, $WSM is available on several centralized exchanges, including OKX, HTX, MEXC, LBank, CoinEx, BitMart, and BingX. These listings have strategically positioned $WSM to capitalize on the ongoing 'Uptober' and altcoin season, periods typically beneficial for cryptocurrency growth.

Elon Musk's Influence and Market Impact

The token's appeal is further enhanced by its connection with Elon Musk. His interactions with the WallStMemes' X account have likely spurred increased interest and trading activity in $WSM. This celebrity engagement often acts as a catalyst in the crypto market, attracting a wider audience.

Futures Trading and Market Expansion

In a significant development, MEXC has introduced futures trading for the $WSM/USDT pair. This move is pivotal, as futures markets are typically larger than spot markets. It sets a precedent that may encourage other exchanges to offer similar trading options, boosting the trading volume for $WSM.

Future Prospects

The introduction of new Ether-based futures ETFs, such as the Bitwise Ethereum Strategy ETF (AETH) and the Bitwise Bitcoin and Ether Equal Weight (BTOP), complements the evolving landscape for meme coins. As $WSM continues to gain traction, its future in major exchanges and futures markets remains promising, signaling a potential rise in its market influence.

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