Babycat token-the latest meme-backed coin on the market
London, 27 July 2021, ZEXPRWIRE, It seems the age of investing by meme is here to stay. Compared to the traditional financial industry, where investment decisions are based solely on the underlying value of the asset-backed by market analysis, the cryptocurrency space has ushered in a new age of meme investing. This strategy involves targeting assets that are projected to explode online and cause an internet buzz on social media platforms.
Baby Cat token is the latest meme-based token launched on the Binance smart chain. The hyper-deflationary altcoin has an in-built smart sharing system that shares rewards among token holders in the ecosystem. This altcoin draws a lot from Dogecoin, a canine-inspired meme coin whose price has been swinging wildly in recent days, largely driven by Elon Musk’s endorsements and comments on Twitter. Fans of Elon Musk have also created baby Cat intending to improve transaction speed.
According to a Reuters report, Dogecoin has risen by more than 14,000% since December 2020 and is currently ranked the fourth-biggest digital coin. Dogecoin was launched back in 2013 and had a logo that features a Shiba Inu dog at the center. Currently, Dogecoin has a market value of $88 billion
Baby cat may soon become the latest talk of the internet and whose value is about to explode. The coin has several attractive features, including a quick transaction time of 5 seconds compared to 60 seconds needed to complete a transaction with Dogecoin.
Being deflationary, the Baby Cat token is designed in a way that its supply reduces with time. Baby Cat coin holders will earn more coins for simply holding Baby Cat Coins in their wallets. In addition, token holders will earn a 5% commission on all transactions on the Babycat network.
The Baby Cat Story
The coin is motivated by a fairy tale involving two planets- Catland and Dogland. The two planets’ Occupants got along well until when the king of Dogland, King Doge, decided to attack and destroy Catland and take its inhabitants captive. Thus, King Doge was very elevated for becoming the sole king of the two planets.
However, during the raid, Queen Cat managed to secretly whisk away Baby Cat to safety and saved it from imprisonment. The Babycat is now tasked to save other planet occupants held hostage. That’s why Babycat asks us for help.
As noted earlier, Baby Cat Coin holders will earn a commission on all transactions with these earnings instantly auto-paid to the holder’s wallet. This way, holders accumulate more coins by just holding their tokens in the wallet.
The biggest project will be the NFT marketplace, allowing users to create, buy/auction their own NFTs.
A unifying feature among altcoins is the high volatility level. To minimize price fluctuations, 5% of all transactions will be moved to the Pancakeswap liquidity pool to help create price stability. In addition, to reduce swing-trading and break whales’ control, the tokens sales have been restricted to less than 0.1% of the total supply.
While the coin is still new in the market, there is a lot of room for growth in market size and product development. The token is expected to make inroads in the crypto space by capitalizing on the strong foundation laid by Dogecoin’s popularity. Baby Cat will also be one of the first meme-themed coins to have a live decentralized exchange and among the first to offer credit cards for crypto.
Buying Baby Cat tokens
To buy Baby Cat tokens, you need first to download and install an appropriate wallet. You can then proceed and add Binance Smart Chain. Next, buy BNB on an exchange and transfer them to your wallet. Finally, go to PancakeSwap and swap the BNB for BabyCatCoin.
The Elon Musk effect
Musk has been a big support of cryptocurrencies and has influenced prices throughout 2021 through Tweets and support for crypto products through his company Tesla. In addition, he has been a big driving force that has propelled other meme-themed tokens like Dogecoin to rise.
Being a product of mainly Musk’s fans, Baby Cat is expected to cause a storm in the market. Musk’s tweets that have sometimes made direct reference and support for certain tokens have seen these tokens’ prices rise to record highs.
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Name- Sourav Ghosal
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Catherine West is a Labour Party politician in the United Kingdom. She was first elected as the Member of Parliament for Hornsey and Wood Green in May 2015. She writes stories as well as news. She wrote number of book.
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