New Listings on CoinMarketCap
Recently, there have been some new listings on CoinMarketCap, and as always there is a litany of new puppy tokens. As always in the crypto space, there are far more projects that will fail than will succeed, and the recent listings have been somewhat of a mixed bag. Nevertheless, if one searches closely, they may be able to find some gems.
Aki Inu was a recent listing on CoinMarketCap that has jumped on the bandwagon of creating a project with far too many tokens. The strategy of mintining one quadrillion tokens has become more and more popular over the last few years as tokens like SHIB have launched, showcasing that market cap is far more significant than unit price.
Some retail investors love tokens like these, because psychologically it can feel more significant to know that one owns several million/billion/trillion tokens, and the low token price can mean that inexperienced speculators often believe there is plenty of potential for upside – especially when they compare this metric with something like DOGE, which is currently at $0.06.
Lackadaisically-run projects like this are not uncommon. In an industry plagued by insincerity it is hardly surprising that on the “Our Value[s]” page of the Aki Inu website, three of the four values are laughably misleading. “Transparency”, “community” and “trust” are all touted as successes of the project, and yet none of the team is doxxed.
Not only this, but there are of course also allegations that the project is being run as a means to exploit their early investors, with reports already abounding that the developer is dumping his equity on the community whilst trying to ride the wave of initial listing hype.
Chihuahua Token (CHH) is another token that has recently listed on CoinMarketCap, and appears to be faring far better than Aki Inu, and is already applauding itself as King of Meme Coins 2022, despite only having launched two days ago and CHH being a token, not a coin.
In order to disincentivise traders and to reward hodlers, the team at CHH have implemented a 10% sales tax on each transaction and a 10% buy tax on each transaction. This 10% in tax will be distributed accordingly: 3% will be sent to the marketing wallet, 3% will be sent to a charity wallet, 2% will be used for further development of the project, and the last 2% will be redistributed amongst preexisting holders.
A lot of people don’t understand the significance of such tokenomics; these tokenomics mean that for each transaction (buy or sell), 8% of the tokens exchanged will be sent to the team, and the only way that the team can use these tokens for “marketing”, “charity”, or “development” is to dump on the community.
It therefore comes as quite a surprise that the project still claims to be decentralised, given the incredibly blatant vectors of centralisation in the token contract.
Tamadoge sells out beta sale for $2m
Listings on CoinMarketCap are always amusing to have a look through, and one puppy project that appears far more compelling is TAMA. Although not yet listed on CoinMarketCap, since TAMA is not yet trading anywhere, Tamadoge is making huge progress in the puppy arena, and has now sold out the beta sale for $2m.
Tamadoge, unlike the other projects mentioned in this article, is not just a meme token, and is not on Binance Smart Chain. To contrast the projects may thus seem somewhat unfair, but speculators ought to note that the changing state of the crypto industry means that innovation is more heavily merited than rebranding the same scams as have proliferated the BSC casino for the past two years.
The total raise for Tamadoge is to be $10m, and shortly after this the project will be listed on PancakeSwap and LBANK exchanges.
Those who wish to partake in the early stages of Tamadoge ought to head to their website, before the presale is completely sold out.
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