Over the time cryptocurrency is a constantly developing sphere, a new and rather disputable actor is recently making headlines among investors and geeks. Serving up a pertinent symbol and the ticker, COCAINE is quickly rising the ranks as the new meme-coin contender as it records increasing COCAINE token value and trading volumes.
According to the latest information, COCAINE is at $0.02916 and has risen by 9.58% within the last day. This has placed the token at position 3,908 in the global market for cryptocurrencies within a rather short period of time in the market.
The current overall market capitalization of COCAINE is $291,640; therefore, there is an increasing tendency of investors getting attracted to this emerging token. Although this amount may be small compared to other large companies, it indicates great potential for development in the highly unstable and sometimes unpredictable industry of cryptocurrencies.
Special emphasis should be placed on an increased 24-hour trading volume of COCAINE, which is $68,130. Such trading indicates an increasing volume and demand for the token, which can be likely linked to the provocative name of the crowd-sale artifact marketed through social media.
Token distribution of COCAINE is being planned with respect to the supply ceiling; the total supply of COCAINE would be 10,000,000 tokens. Notably, the max supply aligns with the current total supply, tell us that all tokens have been created. This kind of fixed supply model has a similar concept with Bitcoin’s scarcity factor and many believe this would be the key driver for long term appreciation.
The circulating supply stated by the ICO also lists the same total circulation value of 10,000,000 COCAINE thus meaning that the token is fully transparent in circulation. This fact is what often makes investors appreciate the balance between total, maximum, and circulating supply as a factor in understanding tokenomics of a project.
Looking at the dec.signup;Volume to market capitalization ratio for COCAINE shows 23.36% that reveals that that firm has a good trading activity in the market. It is such a significant measure which allows investors to determine the availability and demand for a certain token.
Like most new-age cryptocurrencies, particularly those associated with the meme coin class, COCAINE has attracted tremendous attention from market price hunters who seek to make fast bucks on a new and promising digital currency. But they should extend it with a word of caution because meme coins are still a highly speculative and volatile asset class, to say the least.
The people behind COCAINE have been very busy promoting the meme coin through different social media platforms, this is yet a strategy of starting and sustaining the meme coin frenzy. Their emphasis on decentralised development and word of mouth marketing coincides with the playbooks of other meme coins that enjoyed skyrocketing value.
It’s worth noting that the token’s name and branding are likely to be controversial and may face regulatory scrutiny. Some cryptocurrency names have used illicit substance names in the past, which brings controversy in terms of legal/ethical practice and what investors should be wary of.
That is why tokens such as COCAINE reflect further dynamics and differentiation in the cryptocurrency space as a whole. At the moment, the future of COCAINE still remains uncertain and thus depends on its ability to either acquire eventual stardom in the field of meme coins or remain a relatively unknown token simply used for producing specific products. Nonetheless, observing the current performance of this asset and its potential to become a market mover, it can be safely stated that COCAINE has not only the potential to become an important player in the field of meme coins
Thus, COCAINE’s recent market performance makes it possible to draw a conclusion about cryptocurrency’s perspective. The rally in price, now a $HighVolumeCoin, and the set maximum supply have spoken volumes, making it an attractive option for anyone willing to diversify their crypto investments. However, the same as with all the other investments within the world of cryptocurrencies, it is crucial to adhere to the basics of its assessment and pay enough attention to risk factors.
That being the case, as the cryptocurrency market keeps changing and with more and more projects being developed, the project behind COCAINE only underlines the fact that the Crypto world is all about the development of new ideas and approaches. Only time will tell if it will continue to go at the pace it has set for itself or dwindle into nothing, but without doubt, it has carved out a niche for itself in the cosmic world of cryptocurrencies.
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