Meme tokens on Binance Smart Chain network top the CoinMarketCap charts for most viewed cryptocurrencies!
Meme Tokens Top the Charts
Baby Cake, MAMADOGE, and Baby Shiba Inu are the top three most viewed cryptocurrencies on CoinMarketCap. Meme tokens, despite their tremendous risk to investors, continue to garner tremendous attention from the crypto community.
The sampling of most visited tokens was taken July 29th. The meme tokens mentioned have attracted attention largely because of their potential to jump 100x in price. Yet, such potential comes with equally tremendous risk. BSC volume increases show users are ready for the risks.
“While it is possible to make money investing in meme coins, this type of investment is incredibly risky and more similar to gambling than true investing.” writes Katie Brockman in her Motley Fool article.
These crypto tokens are considered incredibly high risk even when compared to more mainstream cryptocurrencies in the market. In an already volatile high risk market, meme tokens such as the ones mentioned above carry huge risk, but also the potential for massive rewards.
Baby Cake
Baby Cake prides itself it being the first “auto-claim CAKE reward mechanism” according toThe project is most notably known for their passive rewards system. Their system distributes $CAKE tokens to users who hold $BABYCAKE tokens in their wallet.
The coin reached an all-time high this week on July 22, up to $0.002813, but has since dropped back over 90% to $0.0002794. The coin sees a 24-hour trading volume of around $4.4 Million USD, according to Coin Market Cap.
There is a 15% fee on every transaction, with an added 1% fee on sale transactions to discourage selling. The 15% fee is broken down into three parts:
7% is redistributed to holders
3% is sent to the liquidity pools
5% is used as a buy back and burn / marketing
Users will receive CAKE that they have earned from holding the BABYCAKE token in their wallet every 60 minutes.
The coin is beginning to break out from meme-coin status with the high daily volume. The connection to PancakeSwap, the largest decentralized exchange on BSC, surely does help. For more information, make sure to read Baby Cake’s whitepaper!
MAMADOGE
The MAMADOGE protocol claims to be the ‘proud birth mother of meme lord Doge.’ The maternal token has become quite popular in the meme token community. The token operates on the BSC network and offers deflationary tokenomics with a passive reward system for token holders.
MAMADOGE does not see much volume, with only $18,500 for 24-hour volume, according to CoinGecko. The token saw a 7 day price high of $0.000000002533. Still very much a low-value alt-coin, but growing in attention.
The $MAMADOGE token has a 10% tax on every transaction, where 5% is distributed to holders, 3% is sent to the liquidity pool, and 2% is sent to their charity wallet. The token is community-driven with the mission to provide food and shelter to homeless dogs around the world.
More links from MAMADOGE:
Website | Twitter | Telegram | GitHub |
Baby Shiba Inu
The Baby Shiba Inu is decentralized finance (DeFi) platform that looks to leverage the power of DeFi to give back to charities. The protocol also has built-in tokenomics that reward users who hold their $BABYSHIBAINU tokens.
The Baby Shiba Inu token has seen incredible growth this week. The token is up 550% from an all-time low on July 25th. The token has a trading volume of $265,000 in the last 24hrs, according to CoinMarketCap.
The platform runs on the BSC network with the goal of creating a charitable dog-loving community. Baby Shiba Inu currently has over 31,000 unique wallet address holders and a market cap of roughly $28 million according to the Baby Shiba Inu’s website. 2% of every sell transaction of Baby Shiba Inu tokens get distributed to token holders.
Source : bsc.newswww.bsc.news/post/meme-coins-baby-cake-mamadoge-and-baby-shiba-inu-are-most-visited-tokens-despite-high-risk
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