Catecoin token continues 30-day fall, but still up massive on the 90-day chart.
Catecoin Struggles Through Rough Week
One week removed from the launch of its NFT game ‘Rise of Cats, and Catecoin cannot pull itself out of the doldrums. The token prices went on a steady fall the last week, and the token’s Telegram was hit also hit with a bot attack preventing a token burn.
The Catecoin token was all set for a token burn challenge that was announced on Dec. 8th, challenging the Catecoin community to rally 20,000 Telegram users. The token burn was canceled due to bots that fictiously inflated the user count, and the team made an effort of integrity to look ahead.
“During the recent burn challenge, people employed bots to inflate the follower count,” Catecoin Tweeted on Dec. 12th. “As #CATECOIN strives for an authentic community, we will, unfortunately, have to cancel this challenge. We will be setting a new burn challenge very soon!”
Meanwhile, the team has a giveaway that will reward Catecoin NFT hodlers. As the token price continues to fall—down 39% on the week and 72% over 30 days—marketing giveaways and engagement campaigns are important.
The Catecoin team appears well aware of the difficulties between some token holders. The token is still up 3,000% over the last 90 days, and many early buyers are obviously still up massive on the token. ‘The Rise of Cats’ still has yet to take off, and hopefully, the V2 can bring PlayToEarn features to make the NFT purchases worth something.
If Catecoin wants to push to flip Doge and Shiba Inu in 2022, all eyes will be on how the next utility steps can catch on.
What is Catecoin
Catecoin is a utility-oriented meme creation and content farming platform made to help meme creators earn from their creativity. The creative meme community can share their content and earn from the community response. CATE is the native token of Catecoin, and CATE’s limited supply and burn mechanism aim to increase the token’s value offering rewards to long-term hodlers. The creative community will also be able to sell their memes via NFT minting.
For more about Catecoin, check these links:
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