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

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