True, it seems as if the ongoing bearish trend in the global crypto marketplace will continue forever! However, there is bound to be the entry of a bullish trend, soon. When it happens, investors may begin granting greater attention to specific coins.
These coins may seem small, but promise to award life-changing yields. Special attention should go towards meme coins, which will emulate Dogecoin and Shiba Inu. The world’s focus is on them, for they have displayed surprising resilience even in a market going downhill. So, if you are planning to trade Bitcoins, you may consider knowing about the Bitcoin Transaction Time.
The Meme Coins
Meme coins are digital currencies, created as tributes to jokes, memes, or events. The idea was to award value to the innovative mindsets of the creators/developers.
The first meme coin was DOGE/Dogecoin. It came into existence in 2013. It was a parody relating to a Japanese dog – Shiba Inu. Creators Jackson Palmer and Billy Markus meant it to be a joke digital currency. They wanted it to attract attention in the mainstream. It is a fork of LTC or Litecoin. The consensus mechanism in usage is proof-of-work (PoW).
SHIB or Shiba Inu, is DOGE’s rival. Known as the Dogecoin Killer, SHIB also took inspiration from the Japanese dog breed. An anonymous developer, Ryoshi created it, in 2020. Its ecosystem consists of NFTs, a decentralized exchange, an NFT game, and an NFT art incubator.
SHIB and DOGE are the most famous of dog-themed tokens. However, there are other coins too, albeit not so popular. They include Dogelon Mars (ELON), Kishu Inu (KISHU), Akita Inu (AKITA), SafeMoon (SAFEMOON), and Samoyedcoin (SAMO). Bitcoin smart is the best investment platform for providing complete details about each coin/token.
Best of all, meme coins are to be found in unlimited supply. Therefore, they are affordable, and often, inexpensive. Investors love to hoard them in large quantities!
The Entry of Catecoin
The doggy duo of DOGE and SHIB had it big in 2021! They managed to keep their respective pricings, and market capitalizations, high. DOGE has already gone beyond 8,000% in 2022. It has the ninth rank on CoinMarketCap, regarding market capitalization.
In contrast, SHIB has gone beyond an astounding 60,000,000%, since January 2022. This is great news, since meme coins tend to be highly volatile!
Thus far, the developers of these meme coins had ‘dog’ on their minds! Now, they are experimenting with a new theme. A cat is the central figure. Thus, the CateCoin (CATE) will take over in 2022.
CATE is a native utility token. It is linked to the CateCoin network. The platform operates on the features associated with decentralized finance. Users may innovate novel memes, and earn varied benefits. However, there is a condition involved. Every user must have 10,000 CATEs in his/her account, before getting permission to like/comment upon different memes.
Users may also access the play-to-earn game, Rise of Cats. Whenever a transaction goes through in the system, 2% of the profits goes to the users. This 2% is distributed amongst all the players. Similarly, 1% of the total CATE supply undergoes burning. This way, it becomes possible for CateCoin to attain fame as a deflationary token.
CateCoin Can Overwhelm DOGE and SHIB
The successful doggy duo made it to the top of the charts, thanks to Elon Musk’s tweets. He openly expressed his fondness for DOGE and SHIB, which had his fans becoming fans of the meme coins too! Soon, they acquired the label of being the largest altcoins in the marketplace.
Many whales view CateCoin as the next Shiba Inu coin. After all, even during the bearish run, CateCoin has experienced returns beyond 400%. Therefore, it may well eclipse dog-themed coins, soon.
Furthermore, CateCoin stands out as the sole cat-themed coin, amongst a group of dog-themed coins. Then again, users may gain passive income by investing in it. Neither DOGE, nor SHIB, can promise the same. CateCoin has strategies in place for conquering the play-to-earn gaming arena.
Such actions have encouraged many whales to opt for large hoardings of CateCoin. They have gained confidence by looking at the cat-themed meme coin’s market capitalization. The market cap suggests that they may well expect 100x returns, and quickly. Even if the yield is not so much, an investor may still expect a profit even with a small investment.