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Token W (symbol W) originated from the Wormhole ecosystem and is marketed as a "cross-chain messenger + governance token." Its visuals resemble a retro Battle Royale game brought to the blockchain—the meme of the large yellow W paired with game characters is immediately eye-catching. Highlights include deep liquidity on Ethereum and Base, Arrakis Pro market-making support, and a passionate community. Technical traders in the market are drawing head-and-shoulders bottoms and calling for a breakthrough, while short-term traders are posting "moon rush" messages on Twitter. However, the narrative heat is accompanied by high volatility, and there is a risk of speculation and being scammed. Overall, it looks more like a hybrid of a highly contagious meme story and a governance experiment.