Wall Street Memes, which is closely marked by the famous billionaire Elon Musk, known for his interest in crypto projects, is attracting attention from investors after the stock market listings.
The project, which raised more than $25 million in pre-sale that offers early investment opportunities, continues to maintain its striking performance after being listed on leading cryptocurrency exchanges.
The project, which aims to make money for its investors by creating viral memes, draws attention with its latest announcement of crypto buybacks. Purchasing Wall Street Memes tokens According to the statement made by the team, it is stated that the WSM token buyback will be completed within 3 days as of the time this article was written.
Buyback Announcement from Wall Street Memes Team Creates Excitement
Buyback is a term generally used in traditional financial markets. In this mechanism, companies buy back their own shares, reducing the company’s outstanding share supply. The aim is to increase the value of the share as a result of the decrease in the supply, and thus, companies have the opportunity to control the circulating supply of the financial asset.
As announced by the Wall Street Memes team, in the crypto world, buybacks are used to prevent the value of a cryptocurrency from falling. The relevant crypto coin is purchased by the developer team, and the aim is to prevent loss of value and reduce the costs for investors.
As in the traditional system, in buybacks in the cryptocurrency market, the buyback method reduces the supply of tokens in circulation and increases the value of the cryptocurrency.
According to the statement made on the X (Twitter) account of the Wall Street Memes project, a buyback is planned for the WSM token. In the post made on October 8, it is noted that there are only 3 days left for WSM token buyback.
Investors before buyback By purchasing Wall Street Memes tokens It has the opportunity to benefit from the price movement that is likely to occur after the buyback.
The project team aims to buy back Wall Street Memes tokens worth $1 million. According to the shared calendar, WSM token buyback transactions are planned to be completed on October 11 at 21:00 CET.
On Which Exchanges Are Wall Street Memes Listed?
WSM token, the native token of the community-driven Wall Street Memes project, is listed on leading cryptocurrency exchanges. WSM token, which was first listed on the OKX exchange at $ 0.020 and reached 0.075 percent in a short time and increased by more than 300 percent, meets investors on leading exchanges such as Gate.io, MEXC, LBank and UniSwap.
Crypto community picks one of many leading exchanges ahead of buyback Purchasing Wall Street Memes tokens finds the opportunity. According to CoinMarketCap data, Wall Street Memes token is trading at $0.04291 as of the time this article was written.
The performance of the WSM token after the buyback reduces the token supply in circulation creates great excitement among the crypto community.
What Do Community-Driven Wall Street Memes Target?
Famous billionaire Elon Musk’s interaction with the posts of the Wall Street Memes project causes the crypto community to follow the WSM token closely. The project, which managed to raise more than 25 million dollars in a short time thanks to Musk’s influence, also attracts attention with the strong community behind it.
The project team aims for crypto enthusiasts who buy Wall Street Memes tokens to become popular and earn money by creating viral memes. The Wall Street Memes project, which has more than 1 million followers on social media channels, wants to shake the crypto world to its foundations.
The project, which takes the GameStop incident of 2021 as its starting point, emphasizes that the WSM token is the tokenized version of this movement. Just as small investors challenged the Wall Street giant in the GameStop incident, the Wall Street Memes project also challenges the traditional financial environment.
In the technical analysis document of the project, “Our mission is to disrupt the traditional financial environment by empowering the everyday investor. “We believe memes have the extraordinary power to unite, inspire, and challenge the status quo.” expressions are included.
The WSM team, which is empowered by the community behind it and wants to share the success it has achieved with its community, thinks that it can reshape the finance industry with the power of the masses, humor and viral memes.
Wall Street Memes Token Staking Mechanism Gains Attention
The community-oriented crypto project Wall Street Memes token also attracts attention with the staking mechanism it has introduced.
The project team does not want the community’s earnings to be solely indexed to the stock market performance of the WSM token. Investors who lock their tokens with the staking feature have the opportunity to earn passive income in addition to token income.
It seems that the number of Wall Street Memes tokens staked so far is approaching 500 million. When investors stake WSM tokens, they have a chance to earn rewards based on their share of the staking pool and annual return percentage.
According to the current information on the project page, the annual return percentage appears to be around 43 percent. It is also wondered whether WSM token buybacks will increase the reward rate by affecting this percentage.