Exploring WSB Coin – Should You Invest in the WSB Token?

Do you remember the stock price of GameStop going from $20 to almost $350 in January 2021? One particular subreddit played a vital role in the GameStop “hijack” that led to its price increase: r/WallStreetBets. Now, the moderators of this online community allegedly launched a new cryptocurrency asset called WSB Coin.

Updated 4th May 2023 at 23:55

Just two days after WSB Coin went live, WSBMod (@wsbmod) – a known Twitter account with over 770k followers – started tweeting that the WSB token is not actually related to the official r/WallStreetBets subreddit.

WSBMod Tweeting About WSB Coin

WSBMod also tweeted that the “r/wallstreetbets” Twitter account is controlled by @zjzWSB. And, according to claims from WSBMod, both @zjzWSB and @is_unpopular are scammers behind the WSB Coin project.   

WSB Coin Tweets

At this point, it’s hard to say who is telling the truth and if there are any actual scammers or if it’s all just a dispute between the community members. However, WSBMod started tweeting the aforementioned claims shortly after the price of the WSB token plummeted over 94% from the token’s ATH at $0.000808:

WSB Token Price Chart

Only time will tell if the WSB Coin project can come back after this initial fiasco or not. We just hope you weren’t among the ones to experience this price decrease firsthand. 

As we have been pointing out in our past articles, the crypto space is still much like the “wild wild west.” However, at the same time, since we are in the early stages of the crypto era, great opportunities arrive daily! That said, there’s no better way to make big profits than by finding altcoins before they pump, and the best way to do this is to use Moralis Money Pro!

👇Try Moralis Money in the interactive widget below👇

What is WSB Coin?

Note: The team behind WSB Coin might be up to no good. So, be extra cautious!

The WSB token is a new meme coin that was minted on May 1st, 2023. The official website, wsbcoin.org, claims that WSB Coin is the official meme coin of r/WallStreetBets. The site even warns visitors that there are many impostors out there and how the “r/wallstreetbets” community is shifting focus from stocks to meme coins. It’s clear that whoever created the website believes that the meme coin season has finally arrived! 

Wsbcoin.org further claims that WSB is the fairest meme coin launch as it has no team allocation and no presale. Furthermore, according to that claim, the WSB token was airdropped to Ethereum wallet addresses that were submitted as replies to the following tweet (posted by WSBMod):

However, despite the claim that no tokens are allocated for the team, the page further states that five percent of WSB Coin’s total supply is reserved for the current moderators of the r/WallStreetBets subreddit.

The website uses a lot of community lingo, and the content is a bit like a joke. It comes off as some sort of letter to the “r/WallStreetBets” fans. After all, WSB is primarily for the community in the first place. 

Wsbcoin.org also provides the supply distribution details:

Supply Distribution of WSB Coin

The creators of the WSB Coin project even published a litepaper, which is quite surprising for a meme coin. The litepaper is linked in the top-right corner of the project’s website and on the official Twitter account. This PDF document states that WSB is a “shi*coin.” It also provides details regarding the supply distribution and other “technical” aspects.    

Litepaper of the WSB Token

WSB Token Price

At the time of writing, WSB’s price ranges between $0.00007258 and $0.0001262. While that may be roughly 90% below the token’s ATH ($0.000808), it is still more than 70x above the coin’s minimum price ($0.000001044).

Analyzing WSB Crypto Token Price Chart

If you look at the hourly chart of WSB’s price action above, you can see that following the current ATH, the meme coin experienced a retrace. After all, 60% pullbacks are quite common for new altcoins with explosive rises in the initial days of their launch. 

However, the additional hourly dump on May 4th, 2023, at 00:00 UTC (the largest red candlestick in the above chart), is a clear indication of someone dumping the coin. Feel free to use Etherscan to explore what happened at that time.

Currently, there are over 5,000 holders of the WSB coin. However, a user known as zjz.eth (the address that received the 5% share for the r/WallStreetBets moderators) is the largest holder. 

WSB Coin Price Speculation

Most altcoin price predictions are nothing but speculations, especially when considering meme coins. So, let’s speculate a bit, shall we? For now, it seems as if the WSB price found some support at the current range. If these levels continue to hold and the community starts to have fun with the WSB token, it could easily move past this large 90%-plus dump. 

However, if that were to happen, things should clear up between @wsbmod, @is_unpopular, and @zjzWSB. Otherwise, zjz.eth could dump his bag to drag the price of WSB further down. So, there are many open questions in this story. 

But for the sake of this price speculation, we can say that, as with any other meme coin, the WSB Coin project has the potential to go viral. In that case, the price of WSB could go much higher than the current ATH. To determine how much higher it could go, compare WSB with the two leading meme coins.

WSB Coin (WSB) vs SHIB vs DOGE

Can the WSB Token be as Successful as DOGE and SHIB

If anyone would say that Dogecoin and Shiba Inu would be among the top 15 altcoins by market cap at the time when they were minted, we would call them crazy. However, they both still have a multi-billion USD market cap (MC) and had their market cap ATH at $41.12B and $73.8B, respectively. So, who’s to say that other meme coins, even WSB, can’t follow their lead? After all, all it takes is one bull run!

If we take our WSB price speculation down that road, the price per WSB token could reach as high as $0.592 or $1.063. That is another 5000x plus from where it currently sits.    

So, if you believe that WSB Coin can achieve such heights, now may be a great time to get your bag of WSB.

How to Buy WSB Coin

If WSB matches your risk tolerance and you want to try your luck with this new meme coin, you can buy it on the leading DEX: Uniswap. To do this, you will need some ETH in your Web3 wallet (e.g., MetaMask) to trade it for WSB. If you’ve traded altcoins before, you should have no problem completing this feat.

However, if you are quite new, we recommend you follow one of two paths to ensure you land on the correct trading page. On the one hand, you can visit the project’s official website and hit one of the “Buy on Uniswap” buttons:

wsbcoin.org website showing how to buy WSB tokens

Find the Next WSB Token with Moralis Money

Unless you are completely new to crypto, you know that tens of thousands of altcoins are available. Plus, new crypto tokens are born on several leading chains on a daily basis. 

As such, you should never limit yourself to a single opportunity. Any new coin, or even an existing one, can pump anytime, especially during the bull run!

To spot those opportunities before it’s too late, you need to look at on-chain data. After all, on-chain activity always precedes price action. So, by focusing on reliable, real-time, on-chain data, you can time your entries and exits properly. 

This is why Moralis Money is so powerful – it allows you to query on-chain data and view it in a user-friendly, easy-to-understand manner. So, unlike other on-chain tools, you do not have to worry about dealing with complicated charts. 

Many Moralis Money Pro users are already pocketing incredible profits.

The MONG coin, XCAD Network, the XEN crypto asset, the PEPE token, the WOJAK token, the VERSE token, the HDRN token, the MC token, and HEX are just some of many altcoins that Moralis Money users spotted prior to their latest rallies.

Also, many Pro plan users with access to on-chain activities on the hourly timeframe even spotted the WSB token as soon as it was minted.

So, if you want to profit from those 50x-plus gains many altcoins offer, learn how to make the most of Moralis Money

Moralis Money Quick Start

Anyone can start viewing altcoin opportunities with Moralis Money in seconds. The simplest and fastest way to generate your first list of tokens is to select one of the preset filters on the Moralis Money homepage:

As you can imagine, the preset filters are available to all users. Thus, you want to take the next step and apply some unique search criteria. You can do this by tweaking the preset filter or starting from scratch. In the case of the latter, you want to follow these four simple steps: 

  1. Open the Token Explorer page.
  1. To focus on newly-created tokens like WSB, use the Coin Age filter. However, if you wish to target more seasoned coins, apply the Market Cap metric. 
  1. Hit “Add Another Filter” to make your query even more unique. You can choose from several metrics, including Holders, Buyers, Experienced Buyers, and Liquidity. The aforementioned ones are particularly suitable for spotting coins that are gaining some on-chain momentum.
  1. Tweak your filter and add more metrics to refine your list of tokens that may deserve your attention. By mixing and matching different metrics, you’ll be able to find those hidden altcoin gems.

Now, to get going with the above steps, a free Moralis Money plan is all you need. However, once you learn how to use Token Explorer, you will want to access those lower timeframes. After all, that is the way to spot great altcoin opportunities early. To get this valuable insight, you want to upgrade to the Moralis Money Pro plan.

Exploring WSB Coin – Should You Invest in the WSB Token? – Summary

In today’s article, you learned all you need to know about the WSB Coin project to help you decide if you wish to get a bag of WSB yourself. You learned that there is some dispute among the creators of the token.

At this point, it’s safe to say that people behind the WSB token are somehow related to the r/WallStreetBets subreddit. However, whether this is the community’s official token or not remains unclear. As such, make sure to proceed with extra caution.

Fortunately, you now know that there are countless other opportunities in the crypto space. So, there’s no need to get hung up on any single project. By using Moralis Money, you can finally spot opportunities before price pumps. To ensure you are early enough into a project, you want to see on-chain activity as it happens. This is why you should aim to get the Moralis Money Pro plan sooner rather than later. 

Start practicing using Moralis Money today and prepare for the upcoming bull run. It’s your time to find those altcoin gems and ride 50x-plus price rallies!   

WRITTEN BY Matic PircI am an SEO writer, a content creator, a digital marketing specialist, and above all an entrepreneur, with a strong passion for crypto. I believe blockchain technology has a massive potential in helping us create a better, more just, transparent, and globally united future.
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