Once again, a memecoin is revolutionizing the cryptocurrency market. As it happened some time ago with Dogecoin (DOGE), now Catcoin (CATS) is the cryptocurrency token that has been appreciating the most in recent times, with a price increase of more than 1,000% in the last 24 hours.
Catcoin was created by Miaoshi Nekomoto (the fictitious cat name of Bitcoin creator Satoshi Nakamoto) for the cat-loving community in November 2021. Catcoin has skyrocketed in price recently. According to data provided by Coinmarketcap, it experienced a rise in value of over 1,000% the last week of April. It has recently been listed on Bitforex and Pancakeswap, which could explain the reason for this sudden boom.
Catcoin is a community-based project that builds on Binance Smart Chain (BNB Chain) to bring all cat lovers together in one community. Its utility token, with the token CatCoin (CATS), in addition to earning passive income, allows token holders to use their tokens to pay for goods and services within the project’s ecosystem.
Much of this success comes from the passive income system. For every transaction within the ecosystem, there is a 2% deduction, which will be distributed to all Catcoin token holders. In essence, as transactions continue, the tokens in your digital wallet will continue to multiply without any effort on your part. In addition, Catcoin wants to grow naturally, so it has been programmed to inhibit large holders (whales) from influencing the price for their own benefit.
Currently, the CATS token is a major competitor against DOGE (Dogecoin) and SHIB (Shiba Inu) and has emerged as one of the best memecoin investment options in 2022. The intention of launching Catcoin is also to help cat shelters by creating and donating new DeFi products. Since it was developed using BSC, the transaction involved in Catcoin is relatively low compared to projects developed with other blockchains.According to CoinMarketCap, the price of Catcoin at the moment of writing is US$0.000000005634 with a 24-hour trading volume of US$717.281. The current CoinMarketCap ranking is number 3289 and it has a maximum supply of 1.000.000.000.000.000 CATS coins.