Burn

Wall Street Memes

when

Discord

Rewards

<p>Wall Street Memes’ major new burn mechanism has ignited into action, with an unmissable 5% of the $WSM supply heading for the furnace.</p>   
<p>The launch of the burn mechanism marks the beginning of an exciting deflationary force in $WSM token dynamics, after developers last week announced a far more bullish change to the original plan of a 10% buyback of Net Gaming Revenue.</p>  
<p><a href="https://insidebitcoins.com/visit/wallstreetmemes/" rel="noopener noreferrer nofollow">Wall Street Memes</a> revealed that the burn mechanism would now apply to 100% of $WSM Net Gaming Revenue (NGR) generated by flagship product <a href="https://insidebitcoins.com/visit/wsmcasino" rel="noopener noreferrer nofollow">WSM Casino</a>.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">A HUGE 5% of the total <a href="https://twitter.com/search?q=%24WSM&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$WSM</a> supply,&nbsp; which equates to around 100 million tokens will be burnt when our first monthly <a href="https://twitter.com/search?q=%24WSM&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$WSM</a> Net Gaming Revenue burn takes place on the 29th of February 🔥<br><br>You can view our burn tracker here ➡️ <a href="https://t.co/z4abpsAwWg" rel="noopener noreferrer nofollow">https://t.co/z4abpsAwWg</a> <a href="https://t.co/bamjNnyCdF" rel="noopener noreferrer nofollow">pic.twitter.com/bamjNnyCdF</a></p>— Wall Street Memes Casino (@wsmcasino) <a href="https://twitter.com/wsmcasino/status/1759532619996205485?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 19, 2024</a>
</blockquote>   
<p>Mark your calendar for February 29th when the first $WSM burn event is due to take place, with all NGR generated between October 2023 and January 2024 set for the burn – equating to around 5% of $WSM’s total supply.</p>  
<h2 id="strong-how-the-wall-street-memes-burn-mechanism-works-strong"><strong>How The Wall Street Memes Burn Mechanism Works</strong></h2>  
<p>With the goal of the new burn mechanism aiming to reduce circulating supply for $WSM, the 5% reduction is expected to have a deflationary impact on the value of $WSM tokens.</p>  
<p>This is expected to increase as a force throughout the year, with monthly recurring NGR burn events likely to impact on long-term $WSM tokenomics.</p>  
<p>Progress on these burn events will be trackable on the <a href="https://insidebitcoins.com/visit/wsmcasino" rel="noopener noreferrer nofollow">WSM Web3 Dashboard</a> from February 29th.</p>  
<h2 id="strong-will-first-big-wall-street-memes-burn-event-fire-wsm-price-into-orbit-strong"><strong>Will First Big Wall Street Memes Burn Event Fire $WSM Price Into Orbit?</strong></h2>  
<p>Recent weeks have seen tough growth across ERC-20 meme coins, and this has been fuelled in part by increased congestion and higher fees on the Ethereum network due to the rise of ERC-404 tokens.</p>  
<p>With meme coin traffic shifting volumes towards Solana while fees are high, upside movements have been hard-fought from $DOGE to $SHIB.</p>  
<p>However, despite the reduced volume, $WSM has continued to trade relatively well even versus Solana-based rivals such as $BONK.</p>  
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/VOEaVTARFivoenAHGdaJQQvsCBHK1lv0vQkDTqI7N0CaNTQn1alJ0iKDjlAmaflqzNp2k8aioBZ88sPu5827XjUuvmvnO-1knks9uoePamj_EwKAvj_QOyxcvF8yEoMp_90sliJZrHT-qgDClBBXHK8" alt="">
</figure>  
<p><a href="https://coinmarketcap.com/currencies/bonk1/" rel="noopener noreferrer nofollow">($BONK – Orange</a>, <a href="https://coinmarketcap.com/currencies/wall-street-memes/" rel="noopener noreferrer nofollow">$WSM – Blue</a>)</p>  
<p>Indeed, when $BONK saw localized retracement moves across February 16-18, $WSM was able to outperform $BONK’s price shielding holders from the wider downtick.</p>  
<p>A closer glance at the <a href="https://www.tradingview.com/chart/?symbol=OKX%3AWSMUSDT" rel="noopener noreferrer nofollow">$WSM price</a> reveals that technical structure is strengthening on the short time-frame, with $WSM mounting an impressive recovery over the past week.</p>  
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/YMYPa8Oy-tDfFF3Gn8pYgdoXl-SWlBr0dtvj8Gp11f3Ueoo5J6fEDTMV6xwCGJbV2ECs02DaDzu1UCXn8P0PBykERzcjhHAsZiyzX4ljFgRzRbY5fY9AyisZNrxctt5tWgUQWWmDPFm_4-q9Vz5OYyc" alt="">
</figure>  
<p>Now in a bullish poise above the 20DMA, $WSM’s shift out of retracement has seen key indicators such as the RSI (40.5 – oversold) and MACD (0.00037 – minor bullish momentum) switch to a positive outlook.</p>  
<p>The confluence of these factors suggests that $WSM is ready for another major leg up, and it seems likely that the 5% burn event on February 29th could be a strong catalyst – so don’t miss out.</p>  
<p>In order to stay up to date on Wall Street Memes project news, be sure to connect on <a href="https://twitter.com/wallstmemes" rel="noopener noreferrer nofollow">X (Twitter)</a>.</p>  
<p>Also, don’t forget to participate with the WSM community on <a href="https://discord.com/invite/4E538pzeGX" rel="noopener noreferrer nofollow">Discord</a> as well as <a href="https://t.me/wallst_memes" rel="noopener noreferrer nofollow">Telegram</a>, and add to the hype on <a href="https://www.instagram.com/wallstbets" rel="noopener noreferrer nofollow">Instagram</a> and <a href="https://www.tiktok.com/@wallstreetmemesofficial" rel="noopener noreferrer nofollow">TikTok</a>.</p>  
<p><a href="https://insidebitcoins.com/visit/wallstreetmemes/" rel="noopener noreferrer nofollow"><strong>Buy WSM Here</strong></a></p>
<div class="inContentProviderSingle inContentColor--insidebitcoins fc-row">
 <div class="inContentProviderSingle--wrapper">
  <div class="container">
   <div class="row mb-lg-3">
    <div class="col-12 col-md-8">
     <p class="inContentProviderSingle--title">New Crypto Mining Platform - Bitcoin Minetrix</p>
    </div>
    <div class="col-12 col-md-4">
     <div class="inContentProviderSingle--rating">
      <div class="rating--holder">
       <p class="rating--text">Rating</p>
       <div class="rating--star-container">
        <div class="rating--star" style="width: 100%;"></div>
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="row">
    <div class="col-12 col-md-12 text-center d-block d-sm-block d-md-none d-lg-none"><img decoding="async" class="inContentProviderSingle--img mb-3" src="https://insidebitcoins.com/wp-content/uploads/2023/09/bitcoin-minetrix.svg" alt="Bitcoin Minetrix" width="125" height="60">
    </div>
    <div class="col-12 col-md-8">
     <ul class="inContentProviderSingle--list">
      <li>Audited By Coinsult</li>
      <li>Decentralized, Secure Cloud Mining</li>
      <li>Earn Free Bitcoin Daily</li>
      <li>Native Token On Presale Now - BTCMTX</li>
      <li>Staking Rewards - Over 50% APY</li>
     </ul>
    </div> 
    <div class="col-12 col-md-4 d-none d-sm-none d-md-block d-lg-block"><img decoding="async" class="inContentProviderSingle--img float-right" src="https://insidebitcoins.com/wp-content/uploads/2023/09/bitcoin-minetrix.svg" alt="Bitcoin Minetrix" width="125" height="60">
    </div>
   </div>
   <div class="row">
    <div class="col-12 text-center">
     <div class="inContentProviderSingle--button"><a href="https://insidebitcoins.com/visit/bitcoinminetrix" title="Start Trading" rel="noopener noreferrer nofollow">Learn More</a>
     </div>
     <div class="inContentProviderSingle--disclaimerText">
     </div>
    </div>
   </div>
  </div>
 </div>
</div>

New Wall Street Memes Burn Mechanism Ignites – Don’t Miss As 5% of $WSM Supply Heads For Incinerator

Table of Contents

Inside Bitcoins

Other articles published on Feb 20, 2024

XRP Price Prediction for February 20

BlackRock labels BTC as ‘progress’ in latest spot Bitcoin ETF ad

Ripple CTO Explains How 40.7 Billion XRP in Escrow Can Be Burned

Bitcoin feels lack of ETF flows as Ether price fights to reclaim $3K

Sam Bankman-Fried Spotted with New Look in Prison Photo

Ethereum’s Potential Downtrend Alerted by Analyst Benjamin Cowen

Join our free newsletter for daily crypto updates!