The digital asset space is home to hundreds of cryptocurrencies with interesting uses and backstories. Despite the bearish outlook on popular coins, many investors and traders profit from the growing interests in digital assets. It’s safe to state that Catcoin is one of the newest coins in the space. It also recently grew by over 700%.
What Is Catcoin?
Catcoin is one of the popular memecoins available. Today, it’s competing with other well-known memecoins like Shiba Inu and Doge. 2021 was the year for many memecoins; trends or memes on social media inspire these coins. The dog coins, such as Dogecoin and Shiba Inu, were great in 2021. They grew exponentially, rewarding holders with mouth-watering profits.
However, for most of 2021, the market was highly volatile. Bitcoin also struggled to stay afloat because of the ever-increasing sell-offs. Unlike most kinds of cryptocurrencies, memecoins are highly volatile. This means that they can increase or decrease value within a short time frame. Also, a reason for their volatility may be due to market trends. For instance, when there is great news regarding a memecoin, many traders quickly buy it to benefit from the anticipated increase.
Dogecoin is the first meme-inspired coin in the digital asset industry. It was created after a trend on Shiba Inu, a Japanese dog. After the asset’s creation, it continued to grow and become one of the most popular digital assets in the space. It’s safe to state that many memecoins don’t have a specific supply. For instance, there are over 100 billion Doge in circulation, which is why the ridiculously low price. Shiba and Doge paved the way for more meme-inspired assets, which helped Catcoin’s creation.
How did Catcoin crypto start?
Catcoin is essentially a memecoins for cat lovers. While Doge and Shiba coins are about dogs, Catcoin is one of the few coins created especially for people who love cats. It may be the next big thing in the memecoin industry, especially because of the recent price jump. Miaoshi Nekemoto launched Catcoin in 2021 as an ecosystem that embraces cat lovers.
Today, this coin is one of the biggest memecoins in the industry and a major competitor against Doge and Shiba Inu. Just some weeks into 2022, Catcoin is already proving to be a worthy investment and has outperformed many other tokens in the market. While the market is slowly recovering from the abrupt fall, it has remained one of the top coins to look out for in 2022. This coin is also the first of many things. For one, it’s one of the few cat-related memecoin existing. Another one is the first cryptocurrency-related project that aired live on Twitch. This created an avenue for the community to bring suggestions and recommendations for the community’s success.
Some experts believe that Catcoin may outperform even some of the most successful memecoins in the long run. However, it needs more time to perform better and reward holders with greater profits. The crypto industry is big on profit-taking, making it important for assets to grow and record substantial profits for holders. Developers claim that Catcoin may be used to develop applications. With this, it may assist the investors and the crypto community.
Why Catcoin up By 700%
Catcoin has been in the news for the latest price jump. This coin has skyrocketed by over 700% over the past few days. Previously, popular assets like Dogecoin and Shiba had risen due to sentiments and social media trends. The present outlook shows that the community may be diverting investments to Catcoin.
There are some possible reasons for the sudden price growth. For one, it may have jumped because of recent stages. For instance, CoinGecko added it to the list of the best-performing asset. This may have pushed investors into benefiting from the positive outlook. It’s safe to state that Catcoin is amongst a host of others on the top-performing assets list. Some of those assets include Robot Warriors and Saitoki Inu.
There is a claim that this project will allow users to have secure identities to transfer their CATS to any place globally. Also, the community assures that this token is not just an asset but is a crypto market revolution. While many people believe that Dogecoin has lost its steam, others have moved into buying the hottest assets in the market. Since price growth occurs due to positive or bullish news, investors readily move to assets with great outlooks.
The major problem with owning a memecoin is that most investors don’t take them seriously. They don’t see them as a long-term investment, thereby selling off after making a profit. These sell-offs affect the price and lead to price falls. So, it would help if you understood the coin you want to buy. Understanding the asset may prevent financial losses.
Catcoin’s initial liquidity was around $10,000, which is quite small, considering the notable features. Still, price growth would assist the community in generating needed funding for the project’s growth. The coin is also primarily focused on the Catnip project, which should be released before the end of 2022. While the official release date is yet to be known, the developers assured it would be in 2022.
Owning the token may also allow you to multiply your holdings. According to some reports, the token has a reflective function, making it possible for token numbers to grow. The Catnip project would also be a blockchain-based platform that helps secure identities while allowing users to transfer their CATS to any place.
Catcoin’s growth shows that there might be a tussle between dog and cat memecoins. While cat memecoins like Catcoin and Catecoin are continuously adding profits, dog memecoins are cooling off and are not seeing lots of profits, especially with the industry’s outlook. Because of the lower interest in dog-themed memecoins, traders are moving their money to high sentiment.
Where Can You Buy Catcoin?
You can buy the CATS token mainly on Pancakeswap, which accounts for the highest volume traded. Volume is very important when trading, as it will help you buy or sell quickly at your desired rate. On the other hand, if you trade on low volume exchanges, there will be very low liquidity and the price can be manipulated easier.
Should You Buy CATS?
One of the most important steps you need to take before buying an asset is research. You have to do your research and see if you would love to buy the asset. There are numerous assets in the space, and not many will turn out successful, so you have to understand fundamentals before putting your money to invest in these assets.
After research, if you find the token suitable, you should find great strategies to cut losses when the situation gets too difficult. It’s also safe to note that CATS is a memecoin and should not be used for long-term investment. This means you should have a short-term goal when investing in this asset. Because of changing sentiment, holding a memecoin for long may leave you in financial losses, especially when attention has shifted to other trending assets.
Also, you should not invest an amount that would affect you significantly if you lose it. This means that you should only invest an amount you can lose to prevent difficult situations. A good trader has trading strategies, so it would help learn about digital asset investing and trading.
Is CATS Still Worth Buying?
Presently, Catcoin is one of the hottest assets on exchanges. It would be best to understand market situations before buying this coin. Since it’s a memecoin, you should not expect it to be the best long-term investment. However, you can still make a substantial profit by buying low and selling high. This enables you to make profits and also learn the best strategies that work for you.
Catcoin is one of the newest additions to the memecoin industry. This relatively new coin has outperformed many assets due to the unexpected price growth. It has grown by over 700% within the past few days, making it one of the best-performing assets on many charts. However, Catcoin is a memecoin, so holders should expect high volatility. Volatility goes both ways. It can help you earn an attractive amount of money within a short while, or you may lose money. This makes it necessary to adopt the best strategies for greater profit.
The post Catcoin Crypto – Here Is Why $CATS Jumped 700% In The Market appeared first on CryptoTicker.
* This article was originally published here