How A New Meme Coin Shatters Records With A Whopping $15 Million Presale - Is This A Market Game-Changer!

Dogecoin and Shiba Inu were the exception to the rule but this was almost because they were grandfathered in having been around for so long and being the only two meme coins with a market cap that put them in the top 20 crypto rankings.

This year has brought with it a new dawn for meem coins and it has in turn produced projects like Wall Street Memes ($WSM) which has just passed the $15.5 million raised mark. This however is only just past the halfway point of its hard cap which is almost unheard of in the presale market.

We will get into why the project had enough faith in itself to set a hard cap so high but first let’s look at why the meme coin market has transformed so much to suddenly being the most popular sector of the crypto market.

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Meme coins, started from the bottom now were here

As we mentioned meme coins were more of a joke commodity to a lot of the crypto market even up until as recently as this year. Dogecoin and Shiba Inu are nearly in their own category but outside of them there hasn’t been a meme coin with any sort of longevity worth a pinch.

During Q1 of 2023, we saw a new movement. Meme coin inventors seemed to realize that they may have to change things up and start adding utility to the projects so they don’t burn out so quickly. Even Dogecoin and Shiba Inu seemed to be on board with this and were quickly developing their ecosystems.

Then just as we thought we were going to see an overhaul of meme coins Pepe Coin (PEPE) came along. A true meme coin just based on a classic meme and with no utility it captured the market's attention and was pumped by the thousand. Stories came from left and right about users that had become overnight millionaires because of their early investments and just like that meme coins were back.

The great thing was though, that Pepe Coin showed there was room in the meme coin for two different types of projects. One more similar to standard altcoins with utility, and the traditional meme coin with no utility based around creating a community.

We think the timing of Wall Street Memes starting their presale is no coincidence and shows that they know they could be a game changer in the meme coin market. Let’s look at why.

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Wall Street Memes- A future number one meme coin?

Imagine a project comes along and releases an NFT collection back in 2011 and that collection sells out in half an hour. Now imagine that project just leaves it at that, doesn’t launch a coin, doesn’t get involved with another project just makes a killing and leaves. If that project does eventually launch a coin you have to expect that some serious planning went on behind the scenes and that they have just been waiting for the perfect time to reenter the market right?

That is exactly what Wall Street Memes ($WSM) did. However, it's not like we didn’t know what they were doing in the two years in between. The project is a huge online brand that has over 1 million followers across its online platforms including over 250k Twitter followers.

The brand first came to prominence when a bunch of Reddit users organized together to take on Wall Street by taking on short sellers. Their main target was GameStop and they pushed the price up 1800% at one point. From this the Wall Street Memes brand was born and theft hasn’t looked back since.

Many believe this could be the coin that breaks out and challenges the top two meme coins. Pepe Coin threatened and still remains comfortably inside the top 75 coins on CoinMarketCap but it is unlikely to break the top 20.

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The hope comes from the ready-built community that Wall Street Memes already has as we have touched on. This is also likely why they have set the hard cap at just past $30 million. A huge ask but if it can hit that then we know this project means business and can mix it up with the giants of the industry.

Their Twitter account has already added over 30k followers since the presale began and crucially it is followed by many influential accounts in the industry. YouTuber Cameron Fous and NFT marketplace Magic Eden are just two of the many fans. Virality will be key to $WSM’s long-term success and having influential accounts interact with your project should see its price skyrocket in the future.

Lastly, a small but very interesting tidbit is what Google’s new AI chatbot Bard thinks of the new meme coin. We all know that investors love trying to use AI to try to get an edge on the market and Bard has replaced ChatGPT as investor's number one choice. When asked for a 2023 $WSM forecast the chatbot predicted a best-case scenario could see the coin pump 352%.

We of course do not know how reliable these chatbots are yet as we don’t have a big enough sample size but all this smoke doesn’t come without some fire. The presale is on fire and all other indicators are good so we think Wall Street Memes could be a game changer.

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Conclusion

There is a new meme coin in town and it looks like it could be ready to mix it up with the big guns. As we mentioned no new meme coin has been able to replicate what DODE and SHIB have done over a consistent period of time. Wall Street Memes has everything a meme coin needs to compete and it’s still only halfway through its presale.