Here’s how memetic tokens can get obtain real-world utility
While memetic tokens (“dog-coins,” “Elon coins,” and so on) garnered unmatched excitement in Q2, 2021, the majority of newbies and no-coiners may be confused by the diversity of this turbulent segment. Thus, the CAGE (C4G3) ecosystem develops an “out-of-the-box” solution to allow all meme-coin enthusiasts to benefit from price swings.
Welcome to the Memeverse: What is CAGE?
Introduced in 2021, CAGE (C4G3) platform addresses the segment of memetic tokens, i.e., cryptocurrency coins with no internal value. Typically, such assets have no real utility. Yet, due to enormous hype, jaw-dropping rallies are common for this segment.
In January 2021, interest in meme-coins was catalyzed by Elon Musk, Tesla’s Techno King. He started tweeting about his love story with Dogecoin (DOGE), an early Bitcoin (BTC) fork from 2013. Dogecoin (DOGE) contributors were stressing all along that their project was a joke designed to mock the “serious” cryptocurrencies. As a satirical cryptocurrency since its very first days, DOGE chose a funny Shiba Inu from Know Your Meme’s “top meme” of 2013 as a mascot.
Meanwhile, with Elon Musk as a Twitter cheerleader, the DOGE price added 1,000% in less than 12 hours. This rally coincided with the overall increase in crypto market capitalization.
The DOGE mania injected new life into what is known as “memetic coins.” To follow this trend, the CAGE team develops a protocol to let its users gain exposure to the top memetic coins in the global cryptocurrencies ecosystem.
Cage’s product is promoted as a complete index platform for memetic tokens. Its ideology is based on bringing internal value to memetic assets:
Our aim is to build around an existing protocol that has been accepted by the community, transforming from an ordinary meme to a meme with a store of value.
Bringing crypto indexes to memetic tokens: Introducing CMI
Basically, the ecosystem will consist of five tokens with 20% equal weight. In the inaugural releases of the platform, its products will integrate:
- core native token of the platform C4G3,
- first-ever memetic cryptocurrency Dogecoin (DOGE),
- the most popular new-gen “dog coin” Shiba Inu Coin (SHIB),
- pioneering “interplanetary cryptocurrency” Dogelon Mars Coin (ELON or DOGELON),
- plus the fastest-growing USD-pegged stablecoin, USD Coin (USDC) by Circle.
The tokenomics of this eccentric project are built around two tokens: CAGE (C4G3) and Crypto Meme Index (CMI). The first one is the backbone element of the product’s governance: its holders will be able to have a say in crucial referendums regarding the evolution of the protocol.
At press time, this token is listed by top Ethereum-based decentralized crypto exchange Uniswap v3, as well as by Tier-1 centralized trading platform Nomics.
The second token, CMI, is set to be launched soon. It will act as an index token based on the four most popular meme coins and one stablecoin.
Staking and NFT release are in the cards
By Q4, 2021, the project has created its first liquidity pool and successfully passed a third-party security audit by Solidity Finance. It also integrated an advanced KYC module powered by Passorfail.me cybersecurity vendor.
The CAGE team released an ambitious roadmap. It includes the launch of a staking dashboard and CAG3 MASTERS collection of digital collectibles (non-fungible tokens, NFTs). Also, CMI token will be deployed to Uniswap (UNI) and listed by CoinMarketCap and CoinGecko trackers.
Once these milestones are achieved, the project is going to move its governance system to the DAO (decentralized autonomous organization) model and switch to the development of its community ecosystem. Also, a major website revamp is planned after the CMI listings and DAO launch.
Shiba Inu coin rise by 15.55%: Is it the right time to buy Shiba Token?
The price of decentralized digital currency has been increasing since its development. The development team of meme token – Shiba Inu Coin has been adding new functions and facilities to the digital asset on daily basis.
The new functions are added in the crypto to attract the investors to invest within the token as well as to increase the value of the Ethereum-based crypto.
To recall, Shiba increased up to 13.06% in its value, especially during the general positives that the crypto industry has experienced this month. Moreover, at the time of writing this article (16 August 2021), it trades at $0.00000902, which is almost a 15.55% rise from the last day.
After seeing this rise from the meme token, it has seen several investors willing to buy it. This digital asset grows more in the last eight months than the whole previous year.
So the answer to your question of whether is it the right time to buy Shiba Coin or not depends upon the rally from the crypto. However, the coin has shown much potential and continuously increasing its value as compared to its rival -Dogecoin for example.
Therefore, depending upon the current situation of various cryptos if you are willing to buy this crypto token then it can be a good deal for you. As mentioned, it is showing great confidence to attract investors and they’re attracted towards it too. Hence, you can invest it in the crypto token now or buy it.
Shiba Inu Coin: Dogecoin Killer?
According to the developers and investors of SHIBA Token, it is the killer of the most famous meme-crypto – Dogecoin. Although Dogecoin has supports from the CEO of Space X and Tesla – Elon Musk and also Dallas Mavericks owner and billionaire investor.
On the contrary, Shiba Inu Coin has been rapidly increasing its price day by day without any back or support from billionaire investors. With said that, Shiba Inu already leading the market of token coins without any support from big brands and celebrities. As a result, we can say that it can take place of meme cryptocurrency.