Meme coins have established themselves as an integral part of the crypto community. They regularly attract the attention of the media due to often erratic price developments. While the Dogecoin, Shiba-Inu-Coin and Pepe-Coin are among the most well-known representatives of this category, a new star is currently emerging in the meme coin sky, which the community is eagerly awaiting.
• Meme coins are often known through social media
• Wall Street Memes Coin: Already raised $25 million in pre-sale
• Roadmap in 3 phases: target of a market capitalization of one billion US dollars
But first: what are meme coins?
The term “meme coin” or “meme token” refers to a special cryptocurrency or blockchain-based token that is primarily popularized via social media and with the help of marketing memes, such as moneyland.ch in an online -Post reported. These coins often associate with real objects or concepts that evoke a strong emotional connection to create a distinctive identity. According to moneyland.ch, meme coins can, for example, integrate animals, food or other familiar objects into their design, name or marketing.
Advertising
Trade Ethereum and other cryptos via CFD (also with lever)
At Plus500 you can bet on rising and falling crypto prices – also with leverage. Test the free demo account now!
Plus500: Please note the Hints5 to this advertisement.
The actual added value of these coins results less from an innovative technology and more from the emotional bond they evoke in their investors. There are often enormous numbers of these coins or tokens in circulation, which keeps their individual value low but at the same time encourages them to be passed on or spent, reports moneyland.ch. Another distinctive feature of meme coins is their playful approach, designed to make complex processes like staking or mining pools more understandable. Non-Fungible Tokens (NFTs) also play a role here, which can often only be purchased with a special meme currency in order to promote the use of these currencies. Despite their popularity, meme coins are often viewed with skepticism because their value is based primarily on their community and not on technological innovations, moneyland.ch concludes.
The Wall Street Memes coin and its roadmap
The new meme coin is the so-called “Wall Street Memes coin”, which is closely linked to the WallStreetBets community on Reddit, which is known for its 2021 action against hedge funds that had taken short positions on GameStop became. The underlying goal of the project, as described on their website, is to crack down on the Wall Street-dominated financial markets monopoly. Although the official start of sales of the token on the crypto exchanges is only planned for the end of September, according to their own statements, an impressive 25 million US dollars have already been generated via their website in the pre-sale.
Wall Street Memes, although categorized as a meme coin, still has clearly defined goals. According to the roadmap, partnerships with various platforms are planned, as well as the establishment of an own merchandise brand. Binance points out in a blog post that the token’s primary incentive system is the expected high returns for holders. According to the project, the roadmap is divided into three phases:
Phase 1: This initial phase is mainly about the technical establishment, including the verification of the smart contract and the expansion of the online presence, especially through marketing measures.
Phase 2: This phase sees the official launch of the token, with planned partnerships and listings on major crypto exchanges. An information campaign also plays a central role here.
Phase 3: The third phase is community focused with the ambitious goal of reaching a $1 billion market cap. In addition, according to their own statements, exclusive benefits for the community should be unlocked.
Why is meme coin so popular?
The foundation for the Wall Street Memes project was laid both out of solidarity with the WallStreetBets community and with the aim of generating profits, as Binance reports in a blog post. As with many meme coin projects, the founders and early investors holding a large stake in the token can realize significant profits if the token’s price increases.
Another key aspect of the project is its anti-establishment stance, as Binance further reports. This is also reflected on her active Twitter page, which has over 250,000 followers and regularly publishes content that humorously criticizes the traditional financial system. The most successful posts are regularly viewed more than 100,000 times, Binance continues.
Wall Street Memes is based on the Ethereum platform as an ERC-20 token and has a maximum supply of two billion tokens. A breakdown of the supply shows that 50 percent is earmarked for marketing purposes, 30 percent for community rewards and the remaining 20 percent for liquidity spread across CEX and DEX. Currently, the coin can only be purchased in advance via its own website.
Editorial office finanzen.net
Select leveraged products on GameStop Corp
With knock-outs, speculative investors can participate disproportionately in price movements. Simply select the desired leverage and we will show you suitable open-end products on GameStop Corp
Leverage must be between 2 and 20