The Wall Street Memes community is buzzing with excitement following a recent big burn event where 5% of the $WSM supply was incinerated. To add to the celebration, WSM Casino has now announced plans for a massive $1 million $WSM airdrop. This exciting news comes as a result of WSM Casino hitting a significant milestone of $100 million wagered across its platform. Anyone who actively participates by wagering on the WSM Casino platform will have the opportunity to receive airdrop rewards. This presents a fantastic chance for community members to claim their share of the $1 million airdrop pool.
The first season of the WSM Casino airdrop is set to kick off on March 8, marking the beginning of a two-month window for participants to get involved. Further details about the airdrop will be disclosed by the Wall Street Memes team in the coming week. The announcement of the airdrop closely follows a major burn event that took place recently, where 100% of the Net Gaming Revenue (NGR) generated by WSM Casino between October 2023 and January 2024 was burned.
The NGR burn event, which involved the incineration of 100,000,000 $WSM tokens (equivalent to 5% of the total supply) on February 29, aimed to introduce deflation into the $WSM tokenomics. This burn event is just the starting point, as recurring monthly burns for NGR on WSM Casino are set to continue. The developers are committed to rewarding long-standing $WSM holders through these burn events. The progress of the burn event can be tracked via the WSM Web3 Dashboard.
The markets have responded positively to the $WSM burn event, with significant excitement around the deflation mechanism. This has led to a considerable upside move in the past 72 hours, with Wall Street Memes now trading at a market price of $0.012, reflecting a 24-hour gain of +2.18%. The price action of $WSM remains bullish, with strong support above the 20 DMA and a MACD reading of 0.000702 indicating a potential breakout. Trading volumes have also seen a 15.28% increase, contributing to a total weekly gain of +65.6%.
When compared to other meme coins such as Dogecoin ($DOGE), Wall Street Memes has demonstrated impressive performance. Despite Dogecoin’s more prominent market position, it has struggled to keep pace with $WSM’s climb. While $WSM has seen a continuous increase, $DOGE has experienced a -6.2% retracement over the past 24 hours. Even though Dogecoin has shown a 44% increase over the week, it still falls short of $WSM’s momentum following the burn event.
Continued Rally and Airdrop Campaign
The recent announcement of a $1 million airdrop campaign by WSM Casino is expected to fuel the ongoing rally even further. As participants flock to wager with $WSM in order to be eligible for the airdrop rewards, the demand for the token is likely to increase. Additionally, WSM Casino offers an attractive Telegram referral program where users can earn a 25% share of the Net Gaming Revenue generated by players they refer to the platform. This, combined with a 200% bonus on first $WSM deposits, presents a lucrative opportunity for community members to earn rewards.
Join the Wall Street Memes Community
To stay up to date with the latest news and developments from Wall Street Memes, community members are encouraged to connect with WSM Casino on various social media platforms such as Twitter, Discord, Telegram, Instagram, and TikTok. By participating in the WSM community, users can engage with other members, stay informed about project updates, and contribute to the overall excitement surrounding Wall Street Memes.
The recent announcements of the $1 million WSM airdrop and the ongoing burn events have generated immense enthusiasm within the Wall Street Memes community. With the token’s price showing positive momentum and exciting developments on the horizon, it is indeed an exciting time to be part of the WSM ecosystem.