There’s no shortage of new cryptocurrencies coming to the market, with many seeing significant price gains when listed on major platforms like CoinMarketCap. Today we look at a recently listed meme-coin called Super Cat Coin and its token SuperCat. Let’s see what the hype is about and why the price is rising so much?
What Is Super Cat Coin?
Super Cat Coin is a community-driven token for all cat lovers. It’s a reflection token featuring a 2% reflection for each transaction redistributed to holders. This means that holders can earn more coins by holding SuperCat in their wallets.
Since this is a community-driven token, there aren’t many planned features or promises, which is a breath of fresh air compared to some other cryptocurrencies that promise the world only to die a week later.
Super Cat Coin features its SuperCat token, a BEP-20 token on the Binance Smart Chain. The total supply for SuperCat is 100,000,000,000,000,000 (100 quadrillion). It seems the supply of recently released coins keeps getting higher and higher, we’ve yet to cover a 1 quintillion supply token, but I’m sure that’s soon to come.
Why Is SuperCat Price Rising?
All jokes aside, the current market cap for SuperCat is $823, with a fully diluted market cap of $94k. The reason for the extremely low market cap is the fact the team burned over 98.5% of the total token supply, leaving a small circulating supply as a result.
The token burn can also be verified by taking a look at bscscan, which shows over 98.8% of the supply in a Null Address:
Source: bscscan
When it comes to the healthiness of the market, looking at Poocoin.app, the liquidity for SuperCat is currently at 112.95BNB (roughly $41.9k), relatively healthy liquidity for a token with an extremely low circulating supply.
At the current market cap and with the recent token burn, SuperCat could be getting ready for a bullish run. However, if you’re looking to invest in this token, keep in mind that it’s mostly a gamble and the real winners for meme tokens are usually the developers.
With liquidity of $41k, this isn’t a coin you can make a lot of money on, but it could be a fun way to gamble $100 if you’re bored this Sunday and like cats.
Also, keep in mind with the fees in place, the coin would need to go up at least 30-40% before you can register significant profit on your investment.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency.
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