Memecoins have been dominating the cryptocurrency sector over the past year. One of the memecoins that was launched during the past year is CateCoin. The memecoin, like many other cryptocurrencies, has not performed well during the past year, and it is down by around 92% from its all-time high.
CateCoin makes a notable uptrend
CateCoin appears to be the next big memecoin in the market. However, unlike the two most popular memecoins, Dogecoin and Shiba Inu, CateCoin is not a doge-themed cryptocurrency. Instead, it is a cat-themed coin with over 1000% year-to-date (YTD) gain.
Memecoins have seen explosive gains during the past few years, and the early investors of some of these coins have reported spiraling gains. CateCoin is one of the low-cap cryptos, with a market capitalization of around $31 million. The low market cap has made CateCoin preferable to investors looking to buy a low-priced coin expecting notable gains.
However, some memecoins usually crumble shortly after their launch, and CateCoin could be one of such coins. CateCoin promises users real utility, with the creators pledging to investors that the coin differs from its competitors.
CateCoin has created a crypto staking platform that offers friendly annual staking returns. The holders of the memecoin are promised an annual staking return of 15% and receive a share of a 2% tax charged on each transaction. The recent gains could be attributed to the token releasing a play-to-earn game and a decentralized wallet.
As the first cat-themed memecoin, CateCoin has set itself apart and attracted a niche of investors that wanted exposure to something different from doge-themed coins that do not have robust utility. With this promise of utility and uniqueness, CateCoin could create a bullish flag. However, as an investor, it is best to stay away from memecoins that are only launching utility now, over a year since it was launched.
Tamadoge enters the market with utility
Tamadoge is a meme coin that has identified the weaknesses of its predecessors and has been designed to overcome them. Since the development phase, Tamadoge has promised utility to its users to guarantee that the early investors enter the market knowing that the token has the potential can create long-term gains.
Tamadoge is already going viral, as seen from its Twitter page, which has already amassed 50,000 followers. Besides being a memecoin, Tamadoge is also a play-to-earn token. Tamadoge is a P2E crypto games platform within a metaverse known as Tamaverse.
TAMA can be considered an in-game cryptocurrency that can be used to perform transactions within the game. Some transactions that can be completed using TAMA tokens within the Tamadoge P2E game include buying items for the pet to upgrade them. The TAMA token can be accessed through the token’s website by participating in the presale that has already raised $11.79 million, showing high demand for the token.
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