The Wall Street Memes community recently experienced a surge in excitement following a major burn event that resulted in the incineration of 5% of the $WSM token supply. Additionally, the announcement of a massive $1 million $WSM airdrop by WSM Casino added to the euphoria among participants.
Season One of the WSM Casino airdrop is set to commence on March 8, offering participants a two-month window to join the event. The Wall Street Memes team has promised further details will be disclosed in the coming week. The airdrop comes on the heels of a recent burn event where 100% of the Net Gaming Revenue generated by WSM Casino between October 2023 and January 2024 was burned.
The NGR burn aimed to introduce deflation into the $WSM tokenomics, resulting in the destruction of 100,000,000 $WSM tokens, equivalent to 5% of the token supply. This event marks the beginning of monthly burns for NGR, signaling a commitment from developers to reward long-term $WSM holders. The markets responded positively to the burn event, with the $WSM price experiencing a notable increase.
The $WSM price has shown strong performance, remaining bullish above the 20 DMA. Trading volumes have also increased, leading to a 65.6% weekly gain for $WSM. In comparison, other meme coins like Dogecoin ($DOGE) have struggled to keep pace with $WSM’s growth. Despite a 44% increase in the past week, Dogecoin saw a 6.2% retracement as $WSM continued to climb.
With the upcoming $1 million airdrop campaign announced by WSM Casino, the hype surrounding $WSM is expected to continue. Airdrop participants are likely to increase demand for $WSM as they engage in wagering activities on the platform. Additionally, WSM Casino’s Telegram referral offer provides an enticing opportunity for users to earn additional revenue share.
The combination of the $1 million airdrop and the recent token burn event has created a significant impact on the Wall Street Memes community. The rally in $WSM price, coupled with the introduction of deflationary measures, has positioned the token for continued growth and engagement from participants. As the community awaits the start of Season One Airdrop, the excitement and anticipation around $WSM are expected to rise further.
Leave a Reply