CateCoin Skyrockets 425% in Ten Days After Deflationary Burn and Updates
The price surge follows a June 30 burn and precedes International Cat Day on Aug. 8.
The Cat’s Meow
The market for memecoins grew exponentially in 2021, especially dog-themed coins. Currently, Dogecoin (DOGE) and Shiba Inu (SHIB) are some of the most popular "breeds."
Move over, Rover – there’s a cat coin that has taken center stage on BNB Chain: The value of CateCoin ($CATE) has soared 425% in just 10 days to $0.000002264 at the time of writing, according to CoinMarketCap data.
On July 27, CateCoin’s market cap stood at around $14 million. As of Aug. 6, it was more than $70 million.
Catecoin 10 days ago - $0.000000376197🐱
— CateCoin (@catecoin) August 3, 2022
Catecoin Today - $0.000000976197🚀#catecoin
The CateCoin team defines the project as a “Community based Cat-themed utility project.” The utility includes games, Non-Fungible Tokens (NFTs), mobile wallets, and community Decentralized Apps(DApps). Additionally, the team recently released version 2 of their game "Rise of the Cats," which included several updates.
Rise of Cats V2.0 Is Coming!
— CateCoin (@catecoin) July 12, 2022
We will have an update for Rise of Cats V2.0 on July 14th, 2022 at 07:00 UTC.
1. New In-Game Marketplace & Wallet.
2. You can log in by Email & Wallet.
3. New Cat: Dottie the pirate, airdropped on July 20th.
4. Bug fixes and improvements. pic.twitter.com/G470zW4Vsp
Some community members in the Catecoin Telegram channel argue that the upcoming International Cat Day on Aug. 8 might be a catalyst for the recent price rise. Additionally, CateCoin burned 34% of its total supply in a major deflationary event on June 30, which could be another contributing factor.
By Burning, 34% of supply #catecoin becomes a deflationary coin
— CateCoin (@catecoin) July 30, 2022
After enabling a 2% reward Major part of the reward token will go to a dead wallet which will reduce
total supply
#CateArmy #Crypto #cryptocurrency #1000x #BNBChain #NFTCommunity #Play2Earn #cryptowallet pic.twitter.com/tUFgSke3SW
Investing in memecoins, of course, comes with risks as they can be quite volatile. Most memecoins rely totally on community support for their survival. Therefore, it is crucial to set your priorities and invest only what you are willing to lose.
BSC News reached out to the CateCoin team to learn what the team has to say about the recent price rally, but we didn’t get an immediate reply.
What is CateCoin:
CateCoin is a utility-oriented meme creation and content farming platform made to help meme creators earn from their creativity. The creative meme community can share content and earn from the community response. CATE is the native token of CateCoin, and CATE’s limited supply and burn mechanism aims to increase the token’s value by offering rewards to long-term hodlers. The creative community will also be able to sell their memes via NFT minting.
Where to find CateCoin:
Website | Twitter | Telegram |
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Find out more about the Raffle Coin (RAFF) presale by visiting the website here.
Disclaimer: This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $300. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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