How can anyone tell if a cryptocurrency is destined for success or bound to fail? One of the indicators is the level of supply of the token you’re considering. Typically, if the supply is high, the token stands a better chance of a price increase. As users begin investing, the activity drives the price up, and when demand exceeds supply, the price escalates. In the following passages, we’ll delve into three tokens: newcomer Big Eyes Coin (BIG) and giants Shiba Inu (SHIB), and Aave (AAVE).
Shiba Inu (SHIB) – The High Demand Meme Coin
- Rank: 15th
- Capitalization: $6 billion
- Price: $0.0000103
- Volume: $178.5 million
In most cases, how well a cryptocurrency does upon release plays a decisive role in its success. One cryptocurrency in high demand is Shiba Inu, one of the premier meme tokens on the market. Shiba Inu is based on the eponymous dog, who has inspired innumerable tokens, including Dogecoin, the first-ever meme token. SHIB is on ShibaSwap, its decentralized exchange. Similar to Bitcoin, Shiba Inu was created anonymously in 2020 by an individual or group using the alias “Ryoshi.”
SHIB quickly gathered momentum in the market following its launch, including a tweet from Elon Musk, the world’s richest man. Shiba Inu also caught the attention of Vitalik Buterin, one of the industry’s veterans and co-creator of Ethereum. Many assumed that Buterin was Ryoshi, although he denied it vehemently. SHIB has inspired a flurry of tokens, including King Shiba, Captain Shibarrow, Shiba Fantom, etc. There are countless dog-related tokens in the markets, possibly hundreds. Besides Dogecoin and Shiba Inu, we have Baby Dogecoin and Alaska Inu.
Aave (AAVE) – Making Waves on the Crypto Market
- Rank: 47th
- Capitalization: $1.16 billion
- Price: $72.5
- Volume: $73.9 million
Aave (AAVE) is one of the top fifty cryptocurrencies; the platform is a decentralized finance protocol enabling users to lend and borrow tokens. Aave is a Finnish word that translates to “ghost.” The project was called ETHLend when it was released in 2017; the name was changed following a rebranding in 2018.
You must deposit tokens into a designated liquidity pool to lend on AAVE. Once you’ve made a deposit, you can earn interest. On the other hand, if you’re a borrower, you can use your digital assets as collateral to collect a flash loan with liquidity. Token holders can enjoy discounts on Aave, and they have governance rights, which means their opinion matters relating to developments on the platform.
What is Big Eyes Coin (BIG)?
The new token we alluded to is Big Eyes Coin (BIG). BIG is categorized as a community token and has two objectives: the first goal is to facilitate the movement of money into the decentralized finance ecosystem. The second purpose is to allocate part of the funds to preserve the oceans, which is the charitable part.
Tokenomics
We mentioned how supply is an indicator of confidence. 70% of tokens are available through an ongoing public presale. 20% are on exchanges, 5% for marketing, and 5% for charity. The team behind BIG is optimistic since 200 billion tokens will circulate.
There are several ways to gauge how a cryptocurrency will fare. The number of tokens distributed is one of the best ways to find out. Although the supply of Big Eyes Coin is high, its presale is nearing its conclusion. If you want to participate, you can download MetaMask and buy BIG tokens with Ethereum or by card.
For more information on Big Eyes Coin (BIG), you can visit the following links:
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
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Source: https://www.thecoinrepublic.com/2022/10/29/big-eyes-coin-is-currently-in-its-presale-now-is-the-time-to-invest-in-a-token-billed-as-the-new-shiba-inu-and-aave/