Will Elon Musk’s new favorite meme coin Wall Street Memes (WSM) be able to start the bull movement in the Bitcoin (BTC) and cryptocurrency markets?
The US Federal Reserve (Fed) on Wednesday kept interest rates steady at a range of 5.25 percent to 5.5 percent, the highest in more than two decades. The latest decision continues the Fed’s proactive stance on inflation, which began in March 2022. Despite the pause, Fed Chairman Jerome Powell said after the policy announcement that another rate hike was possible later this year, which is why analysts called Wednesday’s Fed announcement a “hawkish pause.”
However, the strategic change is clearly visible in the revised forecast for 2024. The Fed is planning a reduction to 5.1 percent instead of the previously anticipated 4.6 percent.
Following the interest rate decision, Bitcoin (BTC) recovered after falling just over 1. Trading around $27,000, BTC is still very close to monthly highs.
This latest announcement does not seem to have much of an impact on Bitcoin market sentiment. This is due to the fact that investors continue to predict that a new rate cut cycle will begin in 2024, although this rate cut cycle is currently predicted to be less aggressive.
The Expected Bull Run and Wall Street Memes
Investors are currently evaluating whether Bitcoin can generate enough price momentum to break out of the $25,000 to $28,500 range of the last few weeks. They are also very hopeful about the upcoming Bitcoin halving and the bull run expected next year. However, it is a matter of curiosity how the bull movement will begin. In this context, we will examine the Wall Street Memes coin, which has been talked about a lot lately and is claimed to be Elon Musk’s new favorite.
Wall Street Memes Excitement Continues
Meme coin craze reached nirvana this year with Pepe coin. Ever since PEPE shocked investors with its 10,000 percent rise earlier this year, they have been searching for the next meme coin that could offer the same explosive growth potential.
Nowadays, Wall Street Memes, which attracts attention with its pre-sale of over 25 million dollars, comes to the fore. The WSM presale event, one of the largest and most exciting altcoin presales of 2023, is ending soon. As the end of the pre-sale approaches Buy Wall Street Memes tokens The number of fields is increasing.
Considered by experts as the next potential meme coin, Wall Street Memes will launch on September 27 on multiple prominent crypto exchanges. The pre-sale will end on September 25 at 21:00 CET. Wall Street Memes token purchaser Investors will be able to claim their tokens after launch.
Despite raising over $25 million in the pre-sale phase, there is still huge demand for WSM as investors have limited time to buy the token at a cheap price of $0.0337.
Strong community support is known as the cornerstone of a successful meme coin project. This is where Wall Street Memes shine at their brightest.
The WSM token was inspired by the legendary Wall Street Bets Reddit community that shook the financial world during the historic GameStop short sale in 2021. This was one of the rare occasions when an army of small investors challenged the power of Wall Street and won.
The Wall Street Memes group also has a dominant social media game. It is considered the trendiest online trading community thanks to its funny memes about finance. He collects more than 40 million views per month on his social media pages. There is also an internet community of more than 1 million.
Moreover, the development team behind the project has a strong background in the Web3 field and knows very well how to benefit from this large fan base. His previous venture, the Wall St Bulls NFT collection, was sold in just 32 minutes and generated $2.5 million in revenue.
Wall Street Memes Are Influenced by Elon Musk
It is widely known that Elon Musk has a strong influence on the meme coin market. The owner of Tesla and X (Twitter) had played a pivotal role in making Dogecoin the largest meme token by market cap.
Experts talked about the Elon Musk effect in detail and highlighted how it led to explosive price increases in Dogecoin. Even Musk’s tweet containing just one word started a rally in DOGE.
Doge is not the only meme coin that benefits from the support of a billionaire name. The LADYS token rose over 5,000 percent after Musk shared a Milady maker meme on Twitter.
Now, it is being said that WSM could be the next token to receive a major boost from Elon Musk. Musk had already interacted with the Wall Street Memes Twitter account multiple times.
Thanks to these interactions of Musk, who is a big fan of funny memes, many investors Buy Wall Street Memes tokens He was about to buy it.
Investors who want to make the most of the price movement should purchase Wall Street Memes in pre-sale. The token can be purchased via debit cards or by exchanging ETH, BNB, USDT.