Catecoin announced an NFT sale that will drop by November 8th. 2,800 blind boxes will be minted and each will have five cat NFTs. The token landed across the top rankings in social media activity across Decentralized Finance and BSC.
What is Catecoin and how does it work?
Catecoin is a meme production and content farming platform designed to enable meme creators profit from their work. The meme community can share their work and profit on the reactions of others. CATE is Catecoin’s native token, and the token’s restricted supply and burn mechanism tries to boost its value by rewarding long-term hodlers. NFT minting will also allow the creative community to sell its memes.
Can Catecoin compete with Dog Coins’ massive success?
Through a tweet on November 5th, Catecoin revealed to the cate community that 2,800 blind boxes will be minted, each containing five cat NFTs. Aside from the enthusiasm around the upcoming NFTs, Catecoin has recently accomplished several outstanding milestones. The coin ranked first on CoinGecko’s charts in social media engagement across Decentralized Finance (DeFi) and BSC, and second in Decentralized Finance (DeFi) and BSC.
“This token is going off. If you take a look at social activity on Binance Smart Chain, [Catecoin] is beating Yooshi, FEG Gorilla, Hamstercoin, and more. They’re second to CAKE, which is upper echelon,” said Youtuber Radies Rajakulam on November 5th in a video retweeted by Catecoin.
Catecoin provides utility for meme and NFT authors as well as immediate staking opportunities, thanks to a community on the prowl waiting to pounce on the dog currencies. Catecoin, unlike other of its canine competitors, has the potential to become a thriving ecosystem.
The Token Leap of Catecoin
Be cautious about investing in this microcap. Despite its recent advances, Catecoin has a circulating supply of $34 quadrillion coins, a maximum supply of $100 quadrillion coins, and a market valuation of $200 million dollars. At the end of October, the native CATE token saw an amazing 8,000 percent increase and appears to be on the verge of breaking past its all-time high.
According to Twitter, the coin burned 1 trillion tokens on November 6th. The burn scarcely made a dent in the stock due to the large quantity. At the time of writing, Catecoin is trading at $0.000005772. It has dropped 40% since hitting an all-time high of $0.000009749 on Nov. 2.
On Twitter, the token also hinted to a big surprise. CryptoTwitter is known for its love of surprises, thus this is a smart marketing strategy by the Catecoin team.
What’s next for them now that they’ve had a game and NFTs under their belts?