Good day everyone,
I hope you are all well and are had an excellent week, welcome to CryptoGod-1’s blog on all things crypto. Today I will be talking about the latest meme coin craze, and no its not PEPE, in fact its a token known as Wall Street Baby, or $WSB. With the general cryptocurrency market seeing a downturn of late, this coin has managed an impressive 275% surge in price.
Wall Street Bets
The Reddit Community known as WallStreetBets, which is notoriously famous for looking down on crypto, has decided to make their own venture into the space. The group generally discuss stocks and options trading, and it full of aggressive trading techniques and in general, some colourful and not so pretty language.
The community decided to make a token, albeit the idea behind it started out as a joke. The token, known as Wall Street Baby ($WSB) began as a meme, but quickly gained traction and the idea evolved into becoming a token hosted on the Ethereum Blockchain. The team members are active traders and although the idea was just for entertainment, it is also a token used for interacting with the community, and generating new memes. While they claim to have no intrinsic value or expectation of financial gain from the $WSB meme currency, like with any token made in crypto, there is always the off chance it could make it big.
There is no official roadmap or team behind the token, but it does have its own website, which can be found here: https://wallstreet.baby/
Wall Street Baby
The idea behind the famous baby meme being used for the meme coin is from TED-ED, the educational videos. While it is not affiliated with the $WSB currency, the creators have decided to express their gratitude to the popular YouTube channel and have reserved 5% of the total supply of tokens for the educational non-profit to claim at their earliest convenience.
A tweet on the official WallStreetBets Twitter account announced the memecoin, and how its target is for the WallStreetBets Reddit community.
The price of the coin saw a massive, and very impressive, surge in price after the announcement. On Sunday the 30th of April the $WSB coin rose an impressive 375% in value. Its price has continued to rise since the beginning of May 2023, with the tweet helping to gain recognition and traction for the coin. The peak all time high price hit around the $0.0000005376. At the time of writing its price stands at $0.000000357 and could easily see further spikes in its value.
A 24 hour trading volume of $28,465,973 is nothing to turn ones nose up at, while its market cap is now valued at $272,304,101. With a max, and total supply, of 100,000,000,000,000 (one hundred trillion) the coin is certainly available in large amounts lol. While it has shown excellent potential since its inception, and ranks #2616 on CoinMarketCap, it is important to note that the meme coin market saw rapid growth in 2021 but these coins are typically suspect to very volatile swings.
The token is available to purchase on Uniswap, and a direct link to the token swap can be found on the Wall Street Baby website.
The Etherscan information for the token is available here: https://etherscan.io/token/0x15f20f9dfdf96ccf6ac96653b7c0abfe4a9c9f0f
It will be interesting to see how this one plays out, and if it can become a winner in the meme coin market. Should we, as a community at Publish0x, be looking to do similar and create our own meme coin? Food for thought.
Have a great day.
Peace. CryptoGod-1.
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