Burn

Solana

Wall Street Memes

when

Discord

<div class="insidebitcoins">
 Wall Street Memes’ major new burn mechanism has ignited into action, with an unmissable 5% of the $WSM supply heading for the furnace.   
 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.  
 Wall Street Memes revealed that the burn mechanism would now apply to 100% of $WSM Net Gaming Revenue (NGR) generated by flagship product WSM Casino.
 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 A HUGE 5% of the total $WSM supply,&nbsp; which equates to around 100 million tokens will be burnt when our first monthly $WSM Net Gaming Revenue burn takes place on the 29th of February 🔥 You can view our burn tracker here ➡️ https://t.co/z4abpsAwWg pic.twitter.com/bamjNnyCdF— Wall Street Memes Casino (@wsmcasino) February 19, 2024
 </blockquote>   
 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.  
 <h2 id="strong-how-the-wall-street-memes-burn-mechanism-works-strong">How The Wall Street Memes Burn Mechanism Works</h2>  
 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.  
 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.  
 Progress on these burn events will be trackable on the WSM Web3 Dashboard from February 29th.  
 <h2 id="strong-will-first-big-wall-street-memes-burn-event-fire-wsm-price-into-orbit-strong">Will First Big Wall Street Memes Burn Event Fire $WSM Price Into Orbit?</h2>  
 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.  
 With meme coin traffic shifting volumes towards Solana while fees are high, upside movements have been hard-fought from $DOGE to $SHIB.  
 However, despite the reduced volume, $WSM has continued to trade relatively well even versus Solana-based rivals such as $BONK.  
 <figure class="wp-block-image"><img decoding="async" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%200%200'%3E%3C/svg%3E" alt="" data-lazy-src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/VOEaVTARFivoenAHGdaJQQvsCBHK1lv0vQkDTqI7N0CaNTQn1alJ0iKDjlAmaflqzNp2k8aioBZ88sPu5827XjUuvmvnO-1knks9uoePamj_EwKAvj_QOyxcvF8yEoMp_90sliJZrHT-qgDClBBXHK8">
 <noscript><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/VOEaVTARFivoenAHGdaJQQvsCBHK1lv0vQkDTqI7N0CaNTQn1alJ0iKDjlAmaflqzNp2k8aioBZ88sPu5827XjUuvmvnO-1knks9uoePamj_EwKAvj_QOyxcvF8yEoMp_90sliJZrHT-qgDClBBXHK8" alt="">
 </noscript>
 </figure>  
 ($BONK – Orange, $WSM – Blue)  
 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.  
 A closer glance at the $WSM price reveals that technical structure is strengthening on the short time-frame, with $WSM mounting an impressive recovery over the past week.  
 <figure class="wp-block-image"><img decoding="async" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%200%200'%3E%3C/svg%3E" alt="" data-lazy-src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/YMYPa8Oy-tDfFF3Gn8pYgdoXl-SWlBr0dtvj8Gp11f3Ueoo5J6fEDTMV6xwCGJbV2ECs02DaDzu1UCXn8P0PBykERzcjhHAsZiyzX4ljFgRzRbY5fY9AyisZNrxctt5tWgUQWWmDPFm_4-q9Vz5OYyc">
 <noscript><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/YMYPa8Oy-tDfFF3Gn8pYgdoXl-SWlBr0dtvj8Gp11f3Ueoo5J6fEDTMV6xwCGJbV2ECs02DaDzu1UCXn8P0PBykERzcjhHAsZiyzX4ljFgRzRbY5fY9AyisZNrxctt5tWgUQWWmDPFm_4-q9Vz5OYyc" alt="">
 </noscript>
 </figure>  
 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.  
 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.  
 In order to stay up to date on Wall Street Memes project news, be sure to connect on X (Twitter).  
 Also, don’t forget to participate with the WSM community on Discord as well as Telegram, and add to the hype on Instagram and TikTok.  
 Buy WSM Here
 Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/new-wall-street-memes-burn-mechanism-ignites-don-t-miss-as-5-of-wsm-supply-heads-for-incinerator-tbt80273.html">https://thebittimes.com/new-wall-street-memes-burn-mechanism-ignites-don-t-miss-as-5-of-wsm-supply-heads-for-incinerator-tbt80273.html</a>
</div>

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

목차

TheBitTimes

2024년 2월 20일에 게재된 다른 기사

Nottingham Building Society Accelerates Mortgage Process with MQube’s AI Technology

New Zealand Health Sector Embarks on Major ICT Overhaul to Enhance Care Delivery

Fostering Sustainable Innovation: The Zetrix Global Accelerator Programme

Discover the Undervalued Crypto Token With Potential Like Polygon, Priced at Only $0.12 Today

Ethereum Price Hits $3000 As Galaxy Digital Acquires $76 Million Worth ETH

Major Egyptian Bank Joins Forces With Ripple For Cross-Border Payments

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!